Fiserv acquires WorkingRx
Fiserv (NASDAQ: FISV), a leading provider of technology solutions, announced today it has acquired WorkingRx, a private company that offers products and services to help pharmacies nationwide reduce the administrative time spent on workers' compensation claims processing.
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This acquisition in the Insurance Group will complement Fiserv's Workers Comp Division which already includes, Third Party Solutions (TPS), DirectCompRx, and P2P Link. Terms of the agreement were not disclosed.
Joseph Hensley, president, Fiserv Workers' Comp Division said, "This is an exciting opportunity to expand our transaction processing solutions for pharmacies. We look forward to serving WorkingRx's pharmacy clients with continued high quality service and an expanded set of technology and process solutions."
For WorkingRx, founded in 2002, this acquisition is a chance to offer its clients an even better value proposition. "Some of our processing is currently outsourced. Fiserv's capabilities will allow our customers to use the Fiserv platform and on-line transaction processing solutions, which can be customized for their individual needs," said Lori Daugherty, WorkingRx president and chief executive officer.
The majority of WorkingRx's employees are based in Salt Lake City, where Fiserv intends to maintain an office.
"The acquisition of WorkingRx is consistent with our continued expansion of the value we bring to pharmacies, payers and employers as we integrate the electronic delivery capabilities of our P2P Link unit and the network management capabilities of our DirectCompRx unit. The integration of these capabilities will improve the efficiency and effectiveness of workers compensation pharmacy processing" explained Hensley.