June 28, 2011 / 9:45 AM / 9 years ago

UPDATE 1-Experian to buy Medical Present Value for $185 mln

* Cash deal to be funded from existing resources

* Experian’s second acquisition in U.S. medical payments (Adds detail, background)

LONDON, June 28 (Reuters) - British credit information firm Experian is buying medical payments specialist Medical Present Value for $185 million in cash to tap growing demand for payment administration systems in the U.S. medical sector.

Experian, best known for running consumer credit checks for banks and retailers, said it would fund the deal from its own cash resources.

The takeover, Experian’s second in the U.S. medical payments industry after its 2008 acquisition of software firm Search America, will help the group exploit growing demand among U.S. doctors for billing administration systems as increasingly complex regulations prompt frequent changes to patients’ healthcare plans.

Experian shares were 0.6 percent higher at 756.75 pence by 0935 GMT, valuing the company at about 7.5 billion pounds, while the FTSE 100 share index was up 0.32 percent. (Reporting by Myles Neligan; Editing by Will Waterman)

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