Philadelphia, PA – Perspecta, a provider of physician directories and provider data management solutions in workers’ compensation, government and commercial healthcare, recently announced it has merged with TalisPoint, a San Francisco-based provider of workers’ compensation directory and data management solutions as well as other workers’ compensation and property & casualty insurance and medical data validation services.
Talis was formerly a subsidiary of Medcor, which provides leading employer health services related to onsite clinics, telehealth, and employer safety programs. This merger creates an industry leader and strengthens the combined company’s position across the group health, property & casualty and workers’ compensation markets. The merger will benefit clients through enhanced technological offerings and investments, complementary domain and product expertise, and world-class customer service.
For the past 25 years, TalisPoint has been driving innovation in the property & casualty industry. The company’s solutions help ensure compliance, streamline network management, and drive cost containment. TalisPoint empowers insurance carriers, third party administrators and employers to utilize provider data with confidence through its proprietary validation services.
Perspecta, the leader in provider data management solutions, brings deep commercial healthcare expertise and a robust technology platform that has allowed the Company to scale significantly with leading blue-chip payers. Perspecta’s solutions are primarily focused on driving similar benefits as TalisPoint. Perspecta solutions ensure enhanced consumer and beneficiary experiences and improved cost containment and payer network management, while providing rich analytic solutions.
“We are truly excited to be bringing these organizations together,” said Howard Koenig, President and CEO at Perspecta. “Adding TalisPoint’s deep workers’ compensation expertise and cutting-edge service offerings to our existing capabilities will provide both firms’ clients with a full suite of service offerings. We are truly building a world-class team that will continue to drive innovation to enhance our clients’ experience.”
As part of the merger, Howard Koenig, CEO of Perspecta, will lead the combined organization. Monique Barkett, who is a co-founder and CEO of TalisPoint, will now serve as President of the Workers’ Compensation and Property & Casualty Division. While April Stiles, a co-founder of Perspecta and its Chief Operating Officer, will now be President of the Group Health and Government Divisions.
“Speaking for the entire TalisPoint team, we are excited about bringing together two strong industry players that have complimentary client offerings,” Barkett said. “Combining the strengths of both companies really positions us to take advantage of the many growth opportunities in the market today while providing our clients with best-in-class services.”
“The benefits of the combination of both firms are more than just technology platform based,” Stiles said. “The cultures of both firms are extremely compatible and will make for a stronger and more successful organization moving forward that can serve our clients with the highest standards.”
The TalisPoint and Perspecta merger comes on the heels of Perspecta’s investor, 5th Century Partners, announcing the appointment of executive industry veteran, Will Smith as Operating Partner. In February 2023, 5th Century Partners acquired Perspecta to help accelerate the company’s growth strategy and provide access to capital. DLA Piper served as legal counsel to Perspecta, and CIBC Innovation Banking provided debt financing to support the transaction. Terms of the transaction were not disclosed.