Data analytics provider Verisk has acquired Franco Signor, a Florida-based Medicare secondary payer (MSP) service provider, for $160 million.

Franco Signor will operate under Verisk’s Claims Partners business, which provides MSP compliance and other analytic claim services.

Claims Partners and Franco Signor will be joining forces to offer the single best resource for Medicare compliance, said Verisk.

Commenting on Verisk acquisition of Franco Signor, Mark Anquillare – chief operating officer of Verisk said: “We’re pleased to add Franco Signor’s well-regarded capabilities to Verisk’s strong offerings in the Medicare space.

“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.”

Verisk said that following the addition of Franco Signor’s offerings to the MSP compliance suite of Claims Partners, the company now has the widest range of Medicare solutions to offer which are powered by its analytics and data capabilities.

The company said that the synergies arising from the transaction will mean that the industry will benefit from flexible service levels that totally support insurers, self-insureds, and third-party administrators (TPAs) in their compliance requirements throughout the life of a claim.

John Williams – CEO of Franco Signor said: “We are excited to join Claims Partners in order to provide integrated solutions and enhanced support to claims professionals.

“Becoming part of the Verisk family will enable us to offer added value to our current customers through advanced analytics.”

  Claims Partners, Florida, Franco Signor, Insurance acquisition news, Insurance industry news, John Williams, Mark Anquillare, Medicare secondary payer, USA, Verisk