A Durham technology company that helps health insurers cut claims costs has been sold for $82 million in cash.
Bloodhound Technologies was acquired by Verisk Analytics, a publicly traded New Jersey company that supplies actuarial data to insurers and mortgage lenders. Since Verisk went public in 2009, it's been expanding by buying smaller firms with promising products.
Bloodhound's system for spotting fraud in claims-processing data is valuable because the health industry is racing to reduce expenses, said Steve Nelson, a partner with the Wakefield Group, one of the company's early venture-capital investors.
"Health-care IT is certainly a hot space right now in the wake of the federal health reform," Nelson said.