MDaudit and Streamline Health Solutions, Inc. announced a definitive merger agreement on May 29, 2025. Under the terms, MDaudit will acquire all outstanding shares of Streamline stock for $5.34 per share in cash. The total transaction is valued at approximately $37.4 million, including debt.
This acquisition price represents a substantial premium of 138% to Streamline’s closing price on May 28, 2025, and a 117% premium to its 30-day volume-weighted average stock price. The merger aims to combine Streamline’s pre-bill integrity solutions with MDaudit’s billing compliance and revenue integrity platform. The combined entity will support healthcare organizations nationwide with an aggregate Net Patient Revenue of more than $300 billion.
The transaction is subject to customary closing conditions, including approval by Streamline stockholders, and is expected to close during the third quarter of 2025. Certain officers and directors of Streamline, collectively owning approximately 22% of outstanding common stock, have entered into voting agreements to support the merger. Following the closing, Streamline’s common stock will no longer be listed on the Nasdaq Stock Market.
Ritesh Ramesh, CEO of MDaudit, stated that Streamline’s eValuator and RevID solutions complement MDaudit’s strengths by enabling pre-bill visibility in real-time to unlock revenue opportunities. Ben Stilwill, CEO of Streamline Health, emphasized that the combined platform will deliver foresight and action, reflecting the reality of today’s revenue cycle. The merger is not subject to a financing condition, with MDaudit intending to use cash on hand and existing credit facilities.
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