WNS Holdings Ltd. (NYSE: WNS) has acquired healthcare management company HealthHelp for $95 million. The acquisition expands WNS’ healthcare and insurance business process management (BPM) services.
Founded in 1999, HealthHelp provides benefits management across key healthcare areas, including: radiology, cardiology, oncology, sleep-care, orthopedics, and pain management. The target works closely with healthcare providers and its customers to help improve patient outcomes and reduce carrier costs. The Houston, Texas-based healthcare tech provider aims to speed up the procedure authorization request process and also provides predictive analytics for the healthcare management process.
“HealthHelp’s deep industry expertise, differentiated market approach and extensive use of technology and analytics make this asset an excellent fit for WNS,” states WNS chief executive officer Keshav Murugesh. WNS expects to benefit from cross-sell opportunities.
WNS is a business process management company providing a variety of services such as finance and accounting, customer care, technology capabilities, research and analytics, and back office processes. The HealthHelp acquisition is expected to contribute nearly $2.3 billion in revenue for WNS in the fiscal year ending March 31, 2017. Cain Brothers & Co. served as financial adviser to WNS, and Reed Smith LLP acted as legal counsel.
Some dealmakers say that M&A in the healthcare industry will continue to drag until there is more clarity about the move to repeal and replace the Affordable Care Act. The middle market, however, has seen a fair share of healthcare deals lately, including: Riverside Partners’ purchase of Medical Reimbursement of America; private equity firm HGGC completing a majority investment in London-based Davies Group; the Riverside Co.’s investment in Medical Payment Exchange Inc., a Maryland-based claims management provider to the healthcare industry; and Equian’s acquisition of AfterMath Claim Science Inc., a company that provides post-payment recovery services that aim to eliminate medical claim payment errors through data mining technology.