Here are three things to know about the transaction.
1. Under the agreement, Wipro will acquire all of HealthPlan Services’ shares for approximately $460 million. HealthPlan Services offers an administrative technology platform and consumer engagement services to payers and agents across the public exchange, private exchange and off-exchange individual markets. The company currently employs more than 2,000 associates.
2. Jeffrey Heenan Jalil, senior vice president and head of healthcare life sciences and services with Wipro Limited, spoke positively of the deal. “The addition of HealthPlan Services’ capabilities complements Wipro’s strengths in claims processing and back office services. This is a strategic move for us, as it advances Wipro’s vision of leveraging unique insights into customer buying behavior and applying this across the healthcare value chain. This will help us lower the cost of healthcare and transform the quality of the member experience,” he said in a prepared statement.
3. The transaction is subject to customary closing conditions and regulatory approvals and is likely to be completed in the next 60 to 90 days.
