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Genex agrees to buy Intracorp's workers' compensation unitNov 05, 2010 (MANAVIGATOR via COMTEX) -- US care management services provider Genex Holdings has agreed to buy the workers' compensation and disability case management business of International Rehabilitation Associates (Intracorp), the buyer said on Thursday without disclosing the purchase price. As part of the deal, US health service organisation Cigna (NYSE:CI), Intracorp's parent, will receive minority shareholding in Genex in exchange for the business. The combined company would represent the largest workers' compensation and disability field case management network in the US health services industry, Genex said in a statement. Matt Manders, the president of Cigna's US service, said that the company would continue to distribute its existing health management and wellness services through Intracorp. The transaction is expected to close in the the next few weeks. Intracorp delivers medical bill review services and return-to-work programmes. It also provides companies with programmes for enhancing their workforce and productivity. Country: , USA Sector: Healthcare, Business and Consumer Services Target: Intracorp's workers' compensation and disability case management business Buyer: Genex Holdings Inc Vendor: Cigna Corporation, International Rehabilitation Associates (Intracorp) Type: Corporate acquisition Status: Agreed Comments on this story may be sent to [email protected] |