Conn.-based Xerox announced a definitive agreement to acquire ISG Holdings, Inc. for $225 million, creating a comprehensive workers’ compensation suite of offerings for clients in the property/casualty insurance industry.
In addition to Xerox’s current workers’ compensation business offered through CompIQ, Xerox will add the following ISG subsidiaries and their offerings to its portfolio:
- StrataCare, based in Irvine, Calif., provides comprehensive web-based medical bill review software, workflow and outsourcing solutions.
- Bunch CareSolutions, based in Lakeland, Fla., provides medical management solutions with real-time integration between medical bill review and nurse case management.
The acquisition of ISG expands Xerox’s services to property/casualty insurers, third party administrators, managed care services providers, governments and self-administered employers who require comprehensive reviews of medical bills and implementation of care management plans stemming from workers’ compensation claims.
Once the acquisition is complete, the brands will go to market as StrataCare, A Xerox Company and Bunch CareSolutions, A Xerox Company.