The deal, first announced in October, will help Conduent better serve payer clients with administration processing, the company said in a news release.
“This purchase strengthens our leadership position in the market, enhancing our capacity to connect the entire health care ecosystem,” Pratap Sarker, Conduent’s group CEO, Financial Services and Healthcare, said in a prepared statement. “We can now bring an end-to-end health care payer administration solution to our commercial and government payer clients, helping them achieve operational efficiencies, lower costs and an enhanced digital experience for members and providers.”
HSP co-founders John Buser and Dr. James Basile, along with other former employees, are now part of Sarker’s group.
Financial terms of the deal remain undisclosed.
Sheppard Mullin was Conduent’s legal counsel, while Bruderman Brothers served as HSP’s financial adviser.