MedRisk, a managed care organization based in the United States, has acquired Conduent’s casualty claims solutions business for $240 million. The transaction is expected to be completed by the end of the third quarter, pending regulatory approvals and customary closing conditions. This acquisition will enable MedRisk to expand its offerings in physical rehabilitation for workers’ compensation patients.
Conduent CEO Cliff Skelton announced that this sale was part of their strategy to streamline their portfolio and focus on core capabilities to drive growth. He expressed confidence that both Conduent associates and clients would have a smooth transition as they transitioned to MedRisk. MedRisk’s established presence in the workers’ compensation industry makes them a suitable buyer for Conduent’s casualty claims solutions business.
Under the agreement, Conduent will continue to provide mailroom services for existing casualty claims clients, including MedRisk. This includes bill review services for workers’ compensation and auto casualty claims, processing of medical bills and clinical services, as well as portfolio of Strataware bill review software products. In 2023, this business processed approximately 29 million medical bills for around 100 clients across various markets.
