Shares of CorVel Corp. rose 7% on Tuesday after the Irvine-based healthcare service company posted strong results for the December quarter.
CorVel works with health plans, employers and insurers to control workers’ compensation costs. Its services include case management, networks of preferred providers, medical bill review and independent medical evaluations.
CorVel earned $17.2 million in the quarter, up 61% from a year earlier.
Revenue jumped 15% to $76.7 million. The company said profit and revenue reflected improving results in its product lines, including expanding its Enterprise Comp project, which is centered on software used to manage workers’ compensation claims.
CorVel counted a market value of $375 million at recent check.
