Conduent, a global technology-led business solutions and services company, agreed to sell its Casualty Claims Solutions business to MedRisk, the nation’s largest managed care organization dedicated to physically rehabilitating workers’ compensation patients. This sale was for $240 million in cash, subject to customary adjustments, and includes of Conduent’s workers’ compensation and auto casualty bill review solutions and services that involve processing medical bills and clinical services and its portfolio of Strataware bill review software products.
Last year, with approximately 100 clients across multiple markets, the business processed approximately 29 million medical bills. And as part of this deal, the current Conduent employees in the Casualty Claims Solutions business will join MedRisk. Conduent will continue providing mailroom services for current casualty claims clients, including MedRisk. The deal is expected to close in the third quarter of 2024, subject to the satisfaction of customary closing conditions and regulatory approvals.
Conduent delivers digital business solutions and services spanning the commercial, government, and transportation spectrum and creates valuable outcomes for its clients and the millions of people who count on them. The company utilizes cloud computing, AI, machine learning, automation, and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of about 59,000 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 clients’ missions in many ways, including disbursing about $100 billion in government payments annually, enabling 2.3 billion customer service interactions, enabling millions of employees through HR services every year, and processing nearly 13 million tolling transactions daily.
KEY QUOTE:
“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. MedRisk is well-established in the workers’ compensation industry, and we are confident in a seamless transition for our associates and clients.”
- Cliff Skelton, Conduent President and CEO
