MedRisk Acquiring Casualty Claims Solutions Business from Conduent for $240M

MedRisk is acquiring the Casualty Claims Solutions business from Conduent for $240 million.

This business encompasses workers’ compensation and auto casualty bill review services, which include the processing of medical bills and clinical services.

The sale consists of Conduent’s workers’ comp and auto casualty bill review solutions and services that include medical bill processing and clinical services, and its portfolio of Strataware bill review software products.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the third quarter of 2024. Until the deal closes, both companies plan to operate as independent entities. More details about the combined organization’s go-forward strategy will be communicated after closing.

MedRisk is headquartered in King of Prussia, Pennsylvania, and manages physical rehabilitation in workers’ comp.

Conduent’s services span the commercial, government and transportation spectrum.