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Xerox to buy workers' comp services firm for $225 million

Rochester Business Journal
May 6, 2014

Xerox Corp. is acquiring ISG Holdings Inc., in a $225 million deal. The move will create a suite of offerings for clients in the property and casualty insurance industry, the company said.

The acquisition expands Xerox’s services to property and casualty insurance carriers, third-party administrators, managed care services providers, governments and self-administered employers who require reviews of medical bills and implementation of care management plans stemming from workers’ compensation claims.

“The workers’ compensation industry generates $60 billion in medical payments each year—that equates to approximately 75 million bills in need of financial validation,” said Bob Zapfel, president, Xerox Services, in a statement “This acquisition demonstrates our commitment to the property and casualty sector and makes us an industry leader in workers’ compensation bill review software and care management services.”

Once the acquisition is complete, the ISG brands will go to market as StrataCare, a Xerox company and Bunch CareSolutions, a Xerox company. The operations of StrataCare and Bunch CareSolutions and its 700 employees are in Irvine, Calif., Lakeland, Fla. and Amarillo, Texas.

 (c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 

 


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