Boston, MA (WorkersCompensation.com) – Little more than a year after purchasing the company, a private equity firm announced it has sold Franco Signor to Verisk. BV Investment Partners said the provider of Medicare Secondary Payer compliance solutions will become part of Verisk’s Claims Partners business, another provider of MSP compliance and other analytic claim services.
“When we invested in Franco Signor just over a year ago, we were proud to partner with CEO John Williams and company founders Roy Franco and Jeff Signor, true pioneers and leaders of the MSP compliance industry,” said Sean Wilder, managing director of BV Investment Partners, in a statement. “Our visions were aligned on the multiple opportunities to grow the company both organically and through strategic M&A. We are excited to have achieved our goals in a relatively short period of time and we look forward to witnessing what the future holds for this compelling combination with Verisk.”
The $160 million deal will combine the forces of Franco Signor and Claims Partners to “provide the single best resource for Medicare compliance,” according to the statement.
“The complexities of Medicare compliance obligations are extremely challenging,” said Richard Della Rocca, president of Claims at Verisk, in a separate statement. “With the addition of Franco Signor to the Claims Partners team, we can offer the insight and experience of the country’s top MSP experts under one roof for the benefit of the entire industry and look forward to providing the very best experience and service for our customers.”
The two companies’ approaches to deliver Medicare compliance services “are very complimentary,” the statement said. “With the synergies resulting from the acquisition, the industry will benefit from flexible service levels that fully support insurers, self-insureds, and third-party administrators (TPAs) in their compliance needs throughout the life of a claim, as well as the industry-leading quality and service for which Claims Partners is known.”
“We are excited to join Claims Partners in order to provide integrated solutions and enhanced support to claims professionals,” said Franco Signor CEO Williams. “Becoming part of the Verisk family will enable us to offer added value to our current customers through advanced analytics.”