Verisk buys Medicare claims services business for $160M

(File photo)

Verisk, a Jersey City-based data analytics provider, has paid $160 million to acquire Franco Signor, a Medicare Secondary Payer service provider, it announced Friday.

Florida-based Franco Signor will become part of Verisk’s Claims Partners business, which provides MSP compliance and other analytic claim services, the company said in a news release.

“We’re pleased to add Franco Signor’s well-regarded capabilities to Verisk’s strong offerings in the Medicare space,” Verisk Chief Operating Officer Mark Anquillare said in a prepared statement. “We anticipate that this acquisition will have substantive long-term advantages for the industry, as Verisk will now be able to offer unparalleled guidance and an all-inclusive solution suite for all aspects of an insurer’s Medicare compliance needs.”

Verisk said its Claims Partners unit and Franco Signor have complementary approaches to Medicare compliance services, which will broaden its offerings through flexible service levels and more.