MedRisk Acquires Conduent’s Casualty Claims Solutions Business for $240 Million, Expanding its Offerings in Workers’ Compensation Physical Rehabilitation.
MedRisk, a managed care organization that specializes in the physical rehabilitation of workers’ compensation patients, has announced that it will be acquiring Conduent’s casualty claims solutions business for $240 million. This acquisition includes Conduent’s workers’ compensation and auto casualty bill review solutions, services for processing medical bills and clinical services, as well as its portfolio of Strataware bill review software products.
As part of the deal, current Conduent employees working in the casualty claims solutions business will transition to MedRisk. However, Conduent will continue to provide mailroom services for existing casualty claims clients, including MedRisk. The transaction is expected to be finalized in the third quarter pending the satisfaction of customary closing conditions and regulatory approvals.
Conduent CEO and president, Cliff Skelton, stated that this sale is part of the company’s strategy to streamline its portfolio and focus on core capabilities to drive growth. He expressed confidence in a smooth transition for both Conduent associates and clients. The established presence of MedRisk in the workers’ compensation industry makes them a suitable buyer for Conduent’s casualty claims solutions business.
In 2023, the business processed approximately 29 million medical bills for around 100 clients across various markets. This acquisition will allow MedRisk to expand its service offerings and further establish itself as a leader in the physical rehabilitation of workers’ compensation patients.
The sale marks a significant milestone for both companies and underscores their continued commitment to providing innovative solutions that improve patient outcomes while driving growth.
