MDaudit and Streamline Health Announce Definitive Merger Agreement

The Combined Entity Supports Healthcare Organizations Nationwide with an Aggregate Net Patient Revenue of More than $300B and Brings Together Best-in-Class Billing Compliance and Revenue Integrity Solutions to Empower Health Systems with Actionable Foresight and End-to-End Visibility

MDaudit to Acquire All Outstanding Shares of Streamline Stock for $5.34 Per Share in Cash, a Premium of 138% to Streamline’s Closing Price on May 28, 2025

MDaudit, an award-winning cloud-based continuous risk monitoring platform that enables the nation’s premier healthcare organizations to minimize billing risks and maximize revenues, and Streamline Health Solutions, Inc., a leading provider of solutions that enable healthcare providers to improve financial performance, announced today that they have entered into a definitive merger agreement pursuant to which MDaudit will acquire Streamline in an all cash transaction valued at approximately $37.4 million, including debt.

Pursuant to the terms of the merger agreement, MDaudit will acquire all outstanding shares of Streamline stock for $5.34 per share in cash, which represents a premium of 138% to Streamline’s closing price on May 28, 2025, the last trading day prior to this announcement, and a premium of 117% to Streamline’s 30-day volume-weighted average stock price as of May 28, 2025.

This combination brings together two organizations that share a common vision: enabling healthcare organizations to expand patient care and access by improving financial stability. By joining Streamline’s pre-bill integrity solutions with MDaudit’s robust billing compliance and revenue integrity platform, the parties believe that the combined organization will be uniquely positioned to unify disparate data silos, broaden executive insights, and drive coordinated actions across the revenue cycle continuum to accelerate revenue outcomes and mitigate risk.

“At a time when health systems are facing mounting financial and operational pressures, we believe the future belongs to those who can connect the dots across the revenue cycle continuum with data- and AI-driven solutions,” said Ritesh Ramesh, CEO at MDaudit. “Streamline’s eValuator and RevID solutions complement MDaudit’s current strengths in billing compliance and revenue integrity capabilities by enabling pre-bill visibility in real-time to unlock revenue opportunities. These solutions reflect our shared belief that human-driven revenue cycles deserve proactive, systemwide intelligence with closed feedback loops that are actionable”.

“MDaudit and Streamline have always believed that the most sophisticated technology won’t drive successful outcomes without an unwavering focus on customer satisfaction,” said Ben Stilwill, CEO at Streamline Health. “Our teams have built trust by being true partners to our customers. Together, we’re building a broader platform that reflects the reality of today’s revenue cycle: distributed teams, disconnected data, and immense responsibility. Together, we’re delivering foresight and action; not just reports or alerts.”

Advisors

Cain Brothers, a division of KeyBanc Capital Markets, acted as exclusive financial advisor to Streamline and rendered a fairness opinion to its Board of Directors, and Troutman Pepper Locke LLP served as legal counsel to Streamline.

Goodwin Procter, LLP served as legal counsel to MDaudit.

About MDaudit

MDaudit is a leading healthcare technology provider that partners with the nation’s premier healthcare systems to reduce compliance risk, improve efficiency, retain revenue, and enhance communication between cross-functional teams. Bringing solutions to an industry in transformation, MDaudit enables organizations to minimize billing risks and maximize revenue with an AI-powered, integrated, cloud-based platform that leverages the power of collaboration between people and sophisticated technology to keep humans at the forefront of decision-making while driving sustainable change. To learn more, visit mdaudit.com.

About Streamline Health

Streamline Health Solutions, Inc. enables healthcare organizations to proactively address revenue leakage and improve financial performance. We deliver integrated solutions, technology-enabled services, and analytics that drive compliant revenue, leading to improved financial performance across the enterprise. For more information, visit streamlinehealth.net.

Originally announced May 29th, 2025