Wipro acquires US-based HealthPlan Services for $460 mn

HealthPlan Services’ BPaaS solutions are ideal for payers who want to operate in the private and public exchanges and the off-exchange individual market in the US The Dollar Business Bureau

This acquisition adds another platform-led Business Process as a Service (BPaaS) offering, delivered on cloud to Wipro’s services portfolio.

Indian consulting and technology major Wipro Ltd. on Thursday announced that it has signed a definitive agreement to acquire US-based HealthPlan Services from Water Street Healthcare Partners for $460 million. “As part of the agreement, Wipro will acquire 100% of HealthPlan Services’ shares for a purchase consideration of $460 million,” Wipro Ltd. said in a statement. With the inking of this partnership, Wipro now gains the competitive, first-mover advantage in the high growth public and private exchange space for individual, group and ancillary markets in the US health insurance sector. This partnership also strengthens Wipro's payer portfolio with access to HealthPlan Services’ payer clientele. Since partnering with Water Street in 2008, HealthPlan has grown to become the leading independent technology and Business Process as a Service (BPaaS) provider in the US health insurance market, currently offering market-leading technology platforms and a fully integrated Business Process as a Service (BPaaS) solution to health insurance companies in the US. HealthPlan Services’ BPaaS solutions are ideal for payers who want to operate in the private and public exchanges and the off-exchange individual market in the US. At present, HealthPlan Services connects its payer clients to over 40 public exchanges and more than 150 private exchanges in the US. It also has powered many of these payers to expand membership, while keeping their administrative costs predictable. The Patient Protection and Affordable Care Act, which has of late altered the health insurance outlook in the US, also gives the Indian IT major an opportunity to enhance its reach in the US’s dynamic market. This acquisition adds another platform-led Business Process as a Service (BPaaS) offering, delivered on cloud to Wipro’s services portfolio. Wipro’s clients currently include over 100 US payers, leading healthcare providers, and public health agencies. “This partnership with HealthPlan Services positions Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business model. This will help us lower the cost of healthcare and transform the quality of the member experience,” said Jeffrey Heenan Jalil, Senior Vice President & Head – Healthcare Life Sciences and Services, Wipro Ltd. “The combination creates the first true end-to-end solution in the individual under 65 commercial markets and the governmental over 65 and Medicaid markets,” said Jeff Bak, CEO and President, HealthPlan Services.

February 11, 2015 | 06:51pm IST.

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The Dollar Business Bureau - Feb 11, 2016 01:17 IST

Wipro acquires US-based HealthPlan Services for $460 mn

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