Conduent is selling its casualty claims solutions business to MedRisk for $240 million. MedRisk is a managed care organization dedicated to the physical rehabilitation of workers’ compensation patients.
In a Friday announcement, the Florham Park-based technology-led business services firm said that, as part of this transaction, current Conduent employees in the casualty claims solutions business will join MedRisk. Conduent will continue to provide mailroom services for current casualty claims clients, including MedRisk.
The transaction is expected to close in the third quarter, subject to the satisfaction of customary closing conditions and regulatory approvals.
The sale consists of Conduent’s workers’ compensation and auto casualty bill review solutions and services that includes the processing of medical bills and clinical services, and its portfolio of Strataware bill review software products. In 2023, the business, with approximately 100 clients across multiple markets, processed approximately 29 million medical bills.
“This transaction is an additional example of the significant progress we have made in our strategy to streamline our portfolio while increasing our focus on core capabilities to fuel Conduent’s growth,” Cliff Skelton, Conduent CEO and president, said. “MedRisk is well-established in the workers’ compensation industry, and we are confident in a seamless transition for our associates and clients.”
