The move by Fiserv is expected to increase the company’s Fiserv Health business. Fiserv Health offers a variety of technology and business process outsourcing services related to health care transaction processing, according to a news release.
Memphis, Tennessee-based MedPay is the parent company of Third Party Solutions, Inc. and DirectComp RX, Inc. Together, Third Party and DirectComp have more than 200 employees in their Memphis office, who are all expected to join Fiserv after the completion of the acquisition.
No financial details are being released pending the closing of the transaction. Fiserv expects to close the acquisition in early 2004.