BROOKFIELD, Wis. — After years of acquiring, Fiserv Inc. is selling off a major chunk of business.
The company says it has agreed to sell "substantially all" of its health businesses to UnitedHealthcare for $775 million in cash.
Included in the deal is Fiserv Health Plan Administration, the nation's third largest third-party administrator of self-funded health plans. Also is in the deal are outsourcing services for mid-sized health plans and prescriptions benefits, a mail-order prescription business, a care management company and other ancillary businesses.
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"Now, Fiserv will be completely focused on expanding its technology leadership position across the financial services landscape," says Jeffery Yabuki, Fiserv president and CEO.
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