- Conduent Incorporated, a global technology-led business solutions company announced an agreement to sell its Casualty Claims Solutions business to MedRisk, the nation’s largest managed care organization.
- As part of the agreement, current Conduent employees in the Casualty Claims Solutions division will transition to MedRisk, ensuring continuity and expertise within the workforce.
- The move underscores Conduent’s commitment to sharpening its focus on core capabilities while facilitating growth opportunities in key markets.
Conduent Incorporated a global leader in technology-driven business solutions and services, has agreed to divest its Casualty Claims Solutions business to MedRisk, the largest managed care organization dedicated to rehabilitating workers’ compensation patients.
The deal, valued at $240 million in cash, marks a strategic shift for Conduent towards its core capabilities and growth objectives.
Focused portfolio refinement
The sale encompasses Conduent’s workers’ compensation and auto casualty bill review solutions, including medical bill processing, clinical services, and its suite of Strataware bill review software products. With an extensive clientele of approximately 100 across various markets, the business processed around 29 million medical bills in 2023.
As part of the agreement, current Conduent employees in the Casualty Claims Solutions division will transition to MedRisk, ensuring continuity and expertise within the workforce. Conduent will maintain its provision of mailroom services for existing casualty claims clients, including MedRisk.
Also read: How to prevent healthcare data breaches?
Seamless workforce transition
The transaction is anticipated to be finalised in the third quarter of 2024, pending customary closing conditions and regulatory approvals.
Cliff Skelton, President and CEO of Conduent, expressed confidence in the seamless transition, highlighting the alignment of MedRisk’s established presence in the workers’ compensation sector with Conduent’s strategic realignment efforts.
“This transaction is another milestone in our ongoing strategy to streamline our portfolio and bolster Conduent’s growth trajectory, MedRisk’s prominence in the workers’ compensation industry positions us for a smooth transition, ensuring continued value for our associates and clients alike.”
Cliff Skelton, President and CEO of Conduent
Continued client commitment
“This transaction is another milestone in our ongoing strategy to streamline our portfolio and bolster Conduent’s growth trajectory,” stated Skelton.
“MedRisk’s prominence in the workers’ compensation industry positions us for a smooth transition, ensuring continued value for our associates and clients alike,” he added.
The move underscores Conduent’s commitment to sharpening its focus on core capabilities while facilitating growth opportunities in key markets.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum, creating valuable outcomes for its clients and the millions of people who count on them.
The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions.
About MedRisk
MedRisk is a leading managed care organisation specialising in the rehabilitation of workers’ compensation patients, renowned for its expertise, innovation, and commitment to optimal healthcare outcomes.
