Verisk Analytics, an insurance-risk data provider, has acquired Health Risk Partners (HRP), a healthcare technology firm, for $60m in cash.

The acquisition of HRP, which has a customer base representing over 5.5 million Medicare Advantage, Medicare Part D, and Medicaid lives, is expected to further advance Verisk’s position as a provider of data, analytics, and decision-support solutions to the healthcare industry.

Susan Cimbalo, who founded HRP in 1999, will continue to lead the company. Cimbalo has 17 years of experience working with healthcare operations and finance.

Cimbalo said Verisk’s deep analytical expertise and strength in HEDIS and quality-improvement programs will enable clients to strategically position themselves as government programs move to quality-based reimbursement models.

"We believe our continued growth will be driven through the integration of our combined product suite," Cimbalo said.

Verisk said $13m of the transaction price will be placed in escrow and should be paid in 2012. The transaction is expected to be accretive to adjusted earning per share in 2011.

The acquisition is subject to the completion of customary closing conditions.

Verisk Analytics provides predictive analytics and decision-support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields.