Acquisition brings additional technology, analytics and human analysis to combat fraud, waste and abuse
MINNEAPOLIS and ST. PAUL, Minn., March 19, 2020 /CNW/ -- Thomson Reuters (TSX/NYSE: TRI) today announced that it has acquired Pondera Solutions, a leading provider of technology and advanced analytics to combat fraud, waste and abuse in healthcare and large government programs.
Thomson Reuters serves government agencies at the federal, state and local level with solutions and resources to improve efficiencies, diminish risk and reduce fraud. The acquisition of Pondera Solutions will enhance the offerings in the risk, fraud and compliance space and will allow Thomson Reuters to expand on its strategic approach to deliver insight through advanced analytics, artificial intelligence and human expertise.
"Thomson Reuters and Pondera share a commitment to serve customers with solutions that reduce fraud by individuals targeting government programs," said Steve Rubley, president of the Government business for Thomson Reuters. "Pondera will be a key component to the suite of tools available to government customers that use technology, data and human analysis to support their mission and benefit their communities."
"Government agencies offer and operate some of the largest programs in the world, and that fact alone makes them targets for illicit gains through fraud," said Jon Coss, CEO and founder, Pondera Solutions. "We have taken the latest technology and advanced analytics to help our clients combat fraud and waste, and by joining Thomson Reuters, we will be able to offer even more to help customers with key insights to minimize risk and reduce fraud."
Founded in 2011, Pondera Solutions is based in Sacramento and has an office in Florida.
Financial terms of the acquisition were not disclosed.
Pondera Solutions leverages advanced analytics, AI, and human intelligence to help government and commercial healthcare programs maintain compliance and detect fraud, waste, and abuse. Their core detection system, FraudCaster, helps their clients detect and prevent hundreds of millions of dollars in improper payments in health plans and government programs.
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
SOURCE Thomson Reuters