Fiserv, Brookfield, Wis., acquired software vendor CareGain, East Winsdor, N.J., to expand its consumer-driven healthcare service offerings. Financial terms weren't disclosed. CareGain's DefinedCare Platform software is used by several large health insurers, including Cigna Corp. and Health Net, to administer health savings accounts and other consumer-driven plans.
Founded in 2001, the privately held company has 80 employees and annual revenue of less than $10 million. CareGain will operate as a unit of Fiserv Health, which provides health-plan management, claims processing and other administrative services to self-funded employers and insurers. Fiserv earned $377.6 million, or $1.91 per share, on revenue of $3.73 billion in 2004.