BRADENTON — Data analytics provider Verisk has acquired Franco Signor, a provider of Medicare Secondary Payer compliance solutions, for $160 million.
Bradenton-based Franco Signor will become part of Verisk’s Claims Partners business, another provider of MSP compliance and other analytic claim services, according to a press release. BV Investment Partners, a private equity firm that invested capital into Franco Signor in 2019, announced the sale.
Franco Signor, which reported $23.1 million in gross revenue in 2019, handles Medicare Secondary Payer compliance for self-insured companies, insurers and third-party administrators.
“We are excited to join Claims Partners in order to provide integrated solutions and enhanced support to claims professionals,” says John Williams, CEO of Franco Signor, in the statement. “Becoming part of the Verisk family will enable us to offer added value to our current customers through advanced analytics.”
Verisk is headquartered in Jersey City, N.J. It operates in 30 countries.
“We’re pleased to add Franco Signor’s well-regarded capabilities to Verisk’s strong offerings in the Medicare space,” says Mark Anquillare, COO of Verisk, in the statement. “We anticipate that this acquisition will have substantive long-term advantages for the industry, as Verisk will now be able to offer unparalleled guidance and an all-inclusive solution suite for all aspects of an insurer’s Medicare compliance needs.”