Wipro buys HealthPlan Services
India’s third largest IT exporter Wipro Limited has acquired US based healthcare technology firm HealthPlan Services for US 460 million dollars.
This acquisition was part of the Wipro’s traditional “string of pearls” acquisition strategy and it shall help company to strengthen its position in the US health insurance market.
It will help Wipro to participate in the shift of the US health insurance industry towards a customer-centric business model as it has currently has a US 800 million dollars healthcare and life sciences business.
This is Wipro’s overall 4th acquisition in the in calendar year 2015 after it had bought Denmark-based Designit, German IT consulting firm Cellent AG and US-based Viteos Group.
HealthPlan Services: It is a leading independent technology and Business Process as a Service (BPaaS) provider in the US health insurance market that offers solutions to health insurance firms. The company was founded in 1970 and currently generates annual revenue of 223 million dollars and employs over 2,000 associates.
Categories: Business & Economy Current Affairs 2018