Brookfield, WI-based Fiserv Inc. has acquired Pharmacy Fulfillment Inc., a direct mail pharmacy based in Huntingdon Valley, PA for an undisclosed sum.
The acquisition is projected to generate $10 million in annual revenue for Fiserv’s health services group. Finserv entered the healthcare sector last year when it acquired an employee benefits administration firm, Wausau Benefits Inc.
“Our acquisition of Pharmacy Fulfillment will afford a new avenue of growth as we look for more ways to build this important business,” said Leslie M. Muma, Fiserv’s president and CEO, in a statement.
Last year Finserv reported $2.7 billion in revenues primarily for providing data processing and technology services in the financial services sector. Finserv’s health group accounts for roughly 25% of its revenues.
