Xerox Corp. agreed to pay $225 million for ISG Holdings Inc., a workers’ compensation specialist that operates Irvine-based StrataCare LLC, its healthcare software maker.
Norwalk, Conn.-based Xerox, which provides diversified business processing services, including document management and printing software, said the deal is aimed at expanding its workers’ compensation offerings for clients in the property and casualty insurance industry.
StrataCare provides Web-based medical bill management software. It has more than 350 employees across its operations here and a regional office in Amarillo, Texas. The company is headed by Paul Glover, chairman and chief executive of Farmington, Conn.-based ISG. He’ll continue to lead StrataCare and ISG’s other subsidiary, Bunch CareSolutions in Lakeland, Fla.
―Jane Yu
