MedRisk, a King of Prussia, Pennsylvania-based managed care organization, has acquired Select Provider Networks, Inc. (SPNet), a provider of a boutique specialty network of physical and occupational therapists to the workers’ compensation industry, from Select Medical (NYSE:SEM).
The amounf of the deal was not disclosed.
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. President Greg Nichols, PT will continue to lead SPNet to deliver boutique network solutions to the workers’ compensation community.
Led by CEO Mike Ryan, MedRisk is a large managed care organization dedicated to the physical rehabilitation of injured workers. The company counts over 272,000 providers in its network and serves almost 500,000 injured workers every year.