The deal will allow Conduent to better serve commercial and government payer clients with core administration processing technology, it said. It will also now be able to better serve the growing Medicaid Managed Care market.
“We are one of the few companies in the health care services industry with the capacity to connect the entire healthcare ecosystem with deep expertise and relationships in each major market segment from payer and provider to pharmaceutical and government,” Pratap Sarker, group chief executive, Conduent, Financial Services and Healthcare, said. “The purchase of HSP is highly strategic for us and will help drive growth.”
Under terms of the deal, HSP employees will transfer to Conduent, including John Buser and Dr. James Basile, HSP co-founders. HSP will also become part of Conduent’s Financial Services and Healthcare sector led by Sarker.
Financial terms of the deal were not disclosed. The acquisition is expected to close int he fourth quarter of 2018.