Verisk Analytics (Nasdaq:VRSK), a data analytics provider serving customers in insurance, energy, healthcare, financial services, government, and risk management has hired Morgan Stanley to sell Verisk Health, its healthcare division, according to three industry bankers, The Deal reports. Bankers estimate that Verisk Health sale could pull in between $900 million to $1.08 billion. The sales process is reportedly in the early stages and bankers have noted that the company’s breadth of offerings and scale could be a very attractive for M&A opportunities for companies looking to strengthen their footprint in healthcare data analytics.
Verisk Health is transforming the business of healthcare by providing data services, analytics, and advanced technologies that answer the industry’s most complex challenges. With a focus on reducing risk across all domains of healthcare, the Salt Lake City-based Verisk Health helps health plans, employers, providers, and other risk-bearing entities improve the quality of healthcare delivery, reduce costs, ensure appropriate revenue, pay claims accurately, and support compliance. Its customers include health plans, Medicare Advantage, Managed Medicaid, employers and life insurance carriers.
The company has acquired several companies since its entry into the healthcare sector since 2004 including acquiring venture capital-backed MediConnect Global Inc. for $358.6 million in cash and Medicare and Medicaid data collector Health Risk Partners LLC for $60 million in cash.
