Highmark, parent company of the Blue Cross and Blue Shield plan of Western Pennsylvania, has sold Synertech, a wholly owned managed-care service and technology subsidiary, to Platinum Equity Holdings of Los Angeles.
Terms were not disclosed.
Harrisburg-based Synertech was formed 10 years ago to support the Pennsylvania Blues, but in recent years it has developed into a national vendor of managed-care information systems, contracted administrative processing and other services, a spokesman said.
Acknowledging the growing differences in their core businesses, Highmark and Synertech began to explore divestiture last fall.
Synertech's new owner manages a portfolio of technology companies involved in software development, information systems, computer services and "outsourcing" arrangements.