IT services provider Wipro announced its deal to acquire HealthPlan Services for $460 million.
Headquartered in Tampa, Florida, HealthPlan is a leading technology and Business Process as a Service (BPaaS) provider in the U.S. health insurance market.
HealthPlan Services employs over 2,000 associates. Jeff Bak is the CEO and president of HealthPlan Services.
The US-based HealthPlan Services offers technology platforms and integrated Business Process as a Service (BPaaS) solution to health insurance companies in the individual, group and ancillary markets. The deal to buy HealthPlan Services assists the Bengaluru-based Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business mode.
By acquiring HealthPlan Services, Wipro gains the first-mover advantage in the public and private exchange space. This partnership strengthens Wipro’s payer portfolio, with access to HealthPlan Services’ payer clientele.
Wipro’s clients currently include over 100 U.S. payers, leading healthcare providers, and public health agencies.
“HealthPlan Services strengthens Wipro’s position in the health insurance exchange market while offering synergies with Wipro’s presence in the Managed Medicare and Commercial Group Insurance markets,” said Jeffrey Heenan Jalil, head- Healthcare Life Sciences and Services, Wipro.