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May
1

And the winner of the Stratacare auction is…

Believe it or not, Xerox. Or more precisely, subsidiary CompIQ.

While the deal isn’t official yet, word from multiple sources is it will be finalized early next week; no details on whether Bunchcare will be part of the transaction.

This will greatly strengthen Xerox’ bill review business, combining the number three and five (my guess) application providers.  While Xerox will now own two platforms, I’m thinking we will see current CompIQ customers converted to Stratacare.  CompIQ has not been having all that much success of late, so this may well rejuvenate what was becoming an also-ran in the bill review space.

This yet another example of the rapid consolidation occurring in the work comp services space, and is by no means the last deal we’ll see for a while.  There are several more in process as I write this, and that doesn’t count the ones that I don’t know about.

More on the implications of all this later.

 

 


Joe Paduda is the principal of Health Strategy Associates

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