KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--MedRisk has acquired Select Provider Networks, Inc. (SPNet) from Select Medical (NYSE:SEM). SPNet provides a boutique specialty network of physical and occupational therapists to the workers’ compensation industry.
Founded in 2008 by Select Medical, SPNet offers payers a prospective, managed rehabilitation solution to control physical medicine costs that includes a proprietary peer-to-peer utilization management system.
Under the new MedRisk ownership, SPNet will retain its name and operate independently.
“SPNet and MedRisk may have very different managed care programs, but one thing we share is a commitment to quality care for injured workers,” said MedRisk CEO Mike Ryan. “We look forward to working with SPNet’s management team to ensure that patients continue to benefit from effective, evidence-based treatment strategies for physical rehabilitation.”
SPNet’s President Greg Nichols, PT will continue to lead SPNet to deliver boutique network solutions to the workers’ compensation community.
“SPNet offers a unique model and we see real value in keeping this solution available to clients,” said Nichols. “We’re looking forward to leveraging MedRisk’s resources and technologies to strengthen our service delivery.”
The purchase price was not disclosed.
Based in King of Prussia, Pennsylvania, MedRisk is the largest managed care organization dedicated to the physical rehabilitation of injured workers. One of the Inc. 5,000 fastest growing privately held companies for 13 consecutive years, MedRisk counts over 272,000 providers in its network and serves almost 500,000 injured workers every year. It holds direct contracts with more than 90 percent of the nation’s top workers’ compensation insurers and third-party administrators. MedRisk, which has successfully completed a SSAE 18 SOC Type 1 and 2 examination, ensures high quality care and delivers outstanding customer service. To that end, all customer service professionals, healthcare advocates and physical therapists are based in the U.S. For more information, visit www.medrisknet.com or call 800-225-9675.