Acquisition strengthens our ability to provide customers with superior claims results and exceptional service
King of Prussia, Pennsylvania, May 3, 2024–(BUSINESS WIRE)–MedRisk, a leader in managed physical rehabilitation in workers' compensation, has announced the acquisition of its personal injury claims solutions business, including its portfolio of Strataware products, from Conduent. agreed. The business includes workers' compensation and auto liability claims adjudication solutions and services, including medical claims processing and clinical services.
“This acquisition further enhances our current care and cost management solutions for workers’ compensation and auto insurance carriers, third-party administrators, and self-insured employers. It strengthens our ability to deliver claims results and exceptional service,” said Shri Sridharan, CEO of MedRisk. “By combining the technology assets of our family of companies, we will be able to deliver even more unique and powerful insights to our customers across all products.”
“We are excited to join the MedRisk family of companies,” said Beth Fritz, General Manager, Claims Solutions. “We are a long-standing leader in the industry, and working with MedRisk gives us the opportunity to further innovate while improving the overall experience for our customers.”
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the third quarter of 2024. Trust Securities and UBS Investment Bank acted as financial advisors to MedRisk. Until the transaction is completed, the companies will operate as separate and independent entities. Further details regarding the future strategy of the combined organization will be provided upon closing.
About Medrisk
Founded in 1994 and headquartered in King of Prussia, Pennsylvania, MedRisk was founded with a mission to revolutionize physical rehabilitation for workers' compensation patients. Over the past 30 years, the company has evolved into one of the nation's leading managed care organizations specializing in physical rehabilitation and medical bill review for the claims industry. For more information, visit www.medrisknet.com or call 800-225-9675.
About Condient
Conduent provides digital business solutions and services across commercial, government and transportation sectors, delivering valuable outcomes for our clients and the millions of people who rely on them. We leverage cloud computing, artificial intelligence, machine learning, automation, and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 59,000 employees, process expertise, and advanced technology, Conduent's solutions and services digitally transform customers' operations to improve customer experiences, improve performance, and drive efficiencies. improvement and cost reduction. Conduent disburses approximately $100 billion in government payments annually, enables 2.3 billion customer service interactions annually, empowers millions of employees through human resources services each year, and completes approximately 13 million paid transactions every day. We add momentum to our clients' missions in a variety of ways, including processing transactions. For more information, please visit www.conduent.com.
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contact address
Helen King Patterson, King Knight Communications, 813-690-4787, helen@kingknight.com
