Private-equity firm ABRY Partners may be building a local insurance claims-handling powerhouse.
The 20-year-old firm is buying Louisville-based Trover Solutions, a company with $90 million a year in sales that helps medical insurers, including Blue Cross, check for medical billing fraud, The Post has learned.
Terms were not disclosed.
The deal follows by a week ABRY’s purchase of York Risk Services, a Parsippany, NJ, firm that handles insurance claims for public entities including school districts. York has sales of roughly $185 million.
ABRY, known more for buying media businesses like Muzak and Nexstar Broadcasting, did not return calls for comment.
PE firm Tailwind Capital is exiting Trover after turning the business around.
Tailwind bought Trover in 2004 right after it had just lost its largest customer, UnitedHealthcare.
“We put every penny of profits back in to building the business,” Tailwind co-founder Doug Karp said. Trover picked up smaller insurers, including Blue Cross plans, moved into property and casualty and started a new division helping customers manage law firm bills.

