12 Jan Fiserv announces MedPay acquisition
Brookfield, Wis.– Fiserv recently announced that it completed its acquisition of MedPay Corporation, a Memphis, Tenn.-based provider of workers’ compensation prescription services. The acquisition was announced Dec. 4, 2003.
According to Leslie Muma, Fiserv’s president and chief executive officer, the acquisition will foster the growth of Fiserv Health, which focuses on technology and business processes related to heath care transaction processing.
“We will continue to look for more ways to build this very important business,” Muma said. “We see the entire health care transaction processing industry as an area of growth opportunity for Fiserv.”
Fiserv provides information management systems and services to the financial industry. The company serves approximately 14,000 clients worldwide, including banks, credit unions, insurance companies and lenders and savings institutions.
MedPay specializes in verifying workers’ compensations prescriptions, employment status and insurance providers. It is also the parent company to Third Party Solutions, the nation’s largest workers’ compensation prescription service and DirectComp RX, a company that helps lower workers’ compensation prescription program costs for employers and insurers.