JOIN USWipro to acquire HealthPlan Services
Wipro, India’s third largest IT services company, on Thursday announced the acquisition of US-based healthcare technology services firm HealthPlan Services for $460 million as part of its game plan to become a $15 billion behometh.
In a statement issued in the BSE, the company said Wipro will acquire 100 per cent share of HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.
The company currently has $800 million healthcare and life sciences business and the acquisition would strengthen its position in the healthcare payer sector.
HealthPlan, which is headquarted in Florida, is a leading independent technology and Business Process as a Service (BPaaS) provider in the US health insurance market. It has payer clients of over 40 public exchanges and over 150 private exchanges in the US.
“The partnership with HealthPlan Services positions Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business model,” Wipro Senior Vice President and Head - Healthcare Life Sciences and Services, Jeffrey Heenan Jalil said.