Fair Isaac acquiring Diversified HealthCare
- By William Welsh
- Sep 18, 2003
Fair Isaac Corp., a provider of analytics and decision technology, will acquire Diversified HealthCare Services, the company announced Sept. 18.
Terms of the deal were not disclosed.
The acquisition of Diversified of San Ramon, Calif., will extend San Rafael, Calif.-based Fair Isaac's leadership in the property and casualty insurance industry, the company said.
Adding Diversified's complementary products and services allows Fair Isaac to continue to expand its roster of medical bill review solutions and customer service benefits for workers' compensation payers.
In addition, the combination provides Diversified's customers with opportunities to enhance their efficiency and reduce claims costs through access to Fair Isaac software and analytic solutions tailored to the demands of the insurance industry.
The acquisition will not have a material impact on Fair Isaac's fourth quarter numbers and will represent about $20 million of revenue for the company in fiscal 2004.
Fair Isaac's software products and services currently process more than $4.4 billion annually in property and casualty claims and are used by nine of the top 10 property and casualty carriers and 65 percent of the nation's state workers' compensation funds.
Fair Isaac delivers a wide array of services to government and commercial businesses, including predictive modeling, decision analysis, intelligence management, decision management systems and consulting services.
Services are used by its commercial and government customers to increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably.
William Welsh is a freelance writer covering IT and defense technology.