Business process management major WNS today said it has acquired HealthHelp for USD 95 million (about Rs 623 crore).
Founded in 1999, the Texas-based HealthHelp currently employs approximately 400 medical and operational professionals in the US.
"Consideration for the transaction is USD 95 million excluding adjustments for cash, debt and working capital. WNS has funded the acquisition primarily with long-term debt," WNS said in a statement.
The acquisition of HealthHelp is expected to contribute about USD 2.3 million in revenue for WNS in the fiscal year ending March 31, 2017, and to be immediately accretive to earnings excluding about USD 1.4 million of one-time transaction costs.
HealthHelp works closely with both payors and providers to help improve patient outcomes and drive long-term sustainable cost savings for the healthcare industry.
"With the acquisition of HealthHelp, WNS has taken a major step forward in strengthening our end-to-end Healthcare and Insurance BPM offerings," WNS CEO Keshav Murugesh said.
He added that HealthHelp's industry expertise, differentiated market approach and extensive use of technology and analytics make the asset an excellent fit for WNS.
"In combination with our existing strengths, we believe there are significant opportunities to cross-sell services and create state-of-the-art solutions for the BPM industry," he said.
Cain Brothers & Co acted as financial advisor and Reed Smith LLP acted as legal advisor to WNS in connection with this transaction.
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