Acquisition enhances ability to provide superior cost and clinical management for customers
KING OF PRUSSIA, Pa., Sept. 04, 2024 (GLOBE NEWSWIRE) -- MedRisk, a leader in managed physical rehabilitation in workers’ compensation, has completed the acquisition of the Casualty Claims Solutions business, including the portfolio of Strataware® products, services, and technologies, from Conduent Incorporated (Nasdaq: CNDT). The acquired business encompasses workers’ compensation and auto casualty bill review solutions and services, including the processing of medical bills and clinical services.
Today, the company will be known as StrataCare, a brand with a long and proud history in the industry. This acquisition expands MedRisk's portfolio of care and cost management solutions for workers' compensation and auto insurance carriers, third-party administrators, and self-insured employers, enhancing its ability to provide superior claims outcomes and exceptional service for customers.
"We're thrilled to welcome the StrataCare team and solutions to the MedRisk family," said Sri Sridharan, MedRisk CEO. "Together, we'll leverage our combined expertise and technology to drive even better outcomes and experiences for our customers."
"The integration of StrataCare's capabilities with MedRisk's offerings will create a powerful platform for the industry," said Beth Fritts, StrataCare’s President. "We're excited to join forces and innovate together."
The acquisition demonstrates MedRisk's commitment to strategic growth and investment in solutions that benefit its customers and the industry. MedRisk looks forward to continuing to deliver exceptional service and outcomes through its expanded offerings. White & Case LLP acted as legal advisor to MedRisk on the acquisition, which was originally announced on May 3, 2024.
About MedRisk
Founded in 1994 and headquartered in King of Prussia, Pennsylvania, MedRisk was established with a mission to revolutionize physical rehabilitation for workers' compensation patients. Over the last 30 years, the company has evolved into the nation's leading managed care organization dedicated to physical rehabilitation and medical bill review for the casualty claims industry. For more information, please visit www.medrisknet.com or call 800-225-9675.
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. Through a dedicated global team of approximately 55,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
CONTACT: For media inquiries contact: Chris Stephenson, MedRisk, 445-213-2392, cstephenson@medrisknet.com
