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Bolstering its Healthcare Analytics Practice Adding Leading Payment Integrity and Population Risk Management Capabilities EXLService Holdings, Inc. (NASDAQ: EXLS), a leading operations management and analytics company, announces that on July 1. It has closed the acquisition of SCIOInspire Holdings, Inc. ("SCIO"), a West Hartford Connecticut-based leading healthcare analytics solution and services company (doing business as SCIO Health Analytics). The aggregate merger consideration is $236.5 million, subject to certain post-closing adjustments.
Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer stated, "This acquisition broadens and accelerates EXL's market-leading advanced analytics and healthcare capabilities which combine our data and domain expertise to provide healthcare organizations actionable insights, innovative solutions, optimal outcomes and reduce our client's total cost of care."
"SCIO adds important elements to EXL's healthcare growth strategy by complementing our capabilities to sell and deliver more complex clinical work and enlarge our payment integrity services with a focus on fraud, waste and abuse across healthcare payers, pharmacy benefit managers, healthcare providers and life sciences companies. The addition of SCIO's 1,100 employees to EXL's 2,000+ clinicians and 3,000+ data scientists worldwide significantly increases our ability to scale to meet the needs of our healthcare clients."
EXL funded the purchase with available cash on hand and borrowing from its credit facility.
