Brookfield, Wis. —
The transaction includes Fiserv Health Plan Administration, the nation's largest third-party administrator (TPA) of self-funded health plans; Fiserv Health Plan Management, an outsourcing service for mid-sized health plans and healthcare payer organizations; Innoviant, a prescription benefits administrator; Innoviant Pharmacy, a prescription mail-order service; Avidyn Health, a care management company; and four other components of Fiserv Health's ancillary businesses.
The company will retain its workers’ compensation services organization, which includes the recently announced WorkingRx acquisition. The company will also retain its CareGain Inc. technology business, which is used to intermediate health banking solutions. Both of these businesses will remain in the insurance segment.
“Now, Fiserv will be completely focused on expanding its technology leadership position across the financial services landscape,” said Fiserv’s president and CEO Jeffery Yabuki.
Yabuki said that Fiserv will continue to deliver innovative health care banking and payments products and services to its clients. Over the last several years the company has established a leading position in this growing area in part due to the knowledge and expertise gained by owning these health care businesses, claims the company.
Source: Fiserv Inc.