Adds Industry-Leading Capability in Health Care
Management
WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of
global Business Process Management (BPM) services, today announced
it has acquired HealthHelp, an industry leader in care management.
HealthHelp works closely with both payors and providers to help
improve patient outcomes and drive long-term sustainable cost
savings for the healthcare industry. The company’s solutions are
delivered by combining a proprietary technology platform rooted in
evidence-based medical research, high-end predictive analytics, and
deep healthcare industry expertise.
HealthHelp provides benefits management across several key
specialty healthcare areas, including Radiology, Cardiology,
Oncology, Sleep Care, Orthopedics, and Pain Management. The
company’s approach is based on a non-denial, collaborative model
which includes a peer-to-peer network of over 100 Medical Doctors
and 11 university medical systems. HealthHelp’s solutions are
powered by a proprietary clinical decision support technology
platform called ConsultTM. This scalable platform enables
HealthHelp to process over 70% of its current assessments
automatically, ensuring rapid response to procedure authorization
requests, and automated escalation to nurses and physician
specialists as clinically warranted. The technology embeds
predictive analytics which evaluate and drive health care
improvement opportunities. Today, HealthHelp’s differentiated
approach results in the company’s recommendation being implemented
in over 95% of all requests. As a result, HealthHelp is driving
long-term sustainable utilization reform and behavior change, and
generating reduced carrier costs and measurable ROI for payors. The
company has received utilization management accreditation from URAC
and NCQA, and is certified as a Quality Improvement Organization
(QIO)-like entity.
“With the acquisition of HealthHelp, WNS has taken a major step
forward in strengthening our end-to-end Healthcare and Insurance
BPM offerings. WNS plans to leverage HealthHelp’s industry-leading
capability in care management to address the needs of payor,
provider and insurance organizations,” said Keshav Murugesh, WNS’
Chief Executive Officer. “HealthHelp’s deep industry expertise,
differentiated market approach and extensive use of technology and
analytics make this asset an excellent fit for WNS. In combination
with our existing strengths, we believe there are significant
opportunities to cross-sell services and create state-of-the-art
solutions for the BPM industry. We are excited to welcome the
HealthHelp team to WNS.”
“HealthHelp is pleased to join forces with WNS, an established
leader in Business Process Management,” said Cherrill Farnsworth,
HealthHelp’s CEO. “We believe that together, our firms will be able
to successfully address the rapidly evolving and expanding needs of
the healthcare industry. We look forward to jointly creating new
and enhanced industry-specific solutions which should enable us to
reduce the long-term costs of healthcare, improve outcomes for
payors, providers and patients, and grow our business.”
Founded in 1999 and based in Houston, Texas, HealthHelp
currently employs approximately 400 medical and operational
professionals in the United States. Consideration for the
transaction is $95.0 million excluding adjustments for cash, debt
and working capital. WNS has funded the acquisition primarily with
long-term debt. The acquisition of HealthHelp is expected to
contribute approximately $2.3 million in revenue for WNS in the
fiscal year ending March 31, 2017, and to be immediately accretive
to earnings excluding approximately $1.4 million of one-time
transaction costs.
Cain Brothers & Co. acted as financial advisor and Reed
Smith LLP acted as legal advisor to WNS in connection with this
transaction.
About WNSWNS (Holdings)
Limited (NYSE: WNS), is a leading global business process
management company. WNS offers business value to 200+ global
clients by combining operational excellence with deep domain
expertise in key industry verticals including Travel, Insurance,
Banking and Financial Services, Manufacturing, Retail and Consumer
Packaged Goods, Shipping and Logistics, Healthcare and Utilities.
WNS delivers an entire spectrum of business process management
services such as finance and accounting, customer care, technology
solutions, research and analytics and industry specific back office
and front office processes. As of December 31, 2016, WNS had 32,184
professionals across 41 delivery centers worldwide including China,
Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri
Lanka, United Kingdom and the United States. For more information,
visit www.wns.com.
Safe Harbor StatementThis
release contains forward-looking statements, as defined in the safe
harbor provisions of the US Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on our
current expectations and assumptions about HealthHelp and our
industry. Generally, these forward-looking statements may be
identified by the use of terminology such as “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “will,” “seek,” “should”
and similar expressions. These statements include, among other
things, the expected benefits of our acquisition of HealthHelp,
including HealthHelp’s expected revenue contribution to WNS and
accretive benefit to our earnings, our growth opportunities,
industry environment, and expectations concerning our future
financial performance and growth potential. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statements. Such risks and uncertainties include
but are not limited to worldwide economic and business conditions;
political or economic instability in the jurisdictions where we
have operations; our dependence on a limited number of clients in a
limited number of industries; regulatory, legislative and judicial
developments; increasing competition in the BPM industry;
technological innovation; telecommunications or technology
disruptions; our liability arising from fraud or unauthorized
disclosure of sensitive or confidential client and customer data;
our ability to attract and retain clients; negative public reaction
in the US or the UK to offshore outsourcing; our ability to expand
our business or effectively manage growth; our ability to hire and
retain enough sufficiently trained employees to support our
operations; the effects of our different pricing strategies or
those of our competitors; our ability to successfully consummate,
integrate and achieve accretive benefits from our strategic
acquisitions, and to successfully grow our revenue and expand our
service offerings and market share; and future regulatory actions
and conditions in our operating areas. These and other factors are
more fully discussed in our most recent annual report on Form 20-F
filed on May12, 2016 with the US Securities and Exchange Commission
(SEC) which are available at www.sec.gov. We caution you not to
place undue reliance on any forward-looking statements. Except as
required by law, we do not undertake to update any forward-looking
statements to reflect future events or circumstances.
References to “$” refer to the United States dollars, the legal
currency of the United States.
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version on businesswire.com: http://www.businesswire.com/news/home/20170315005680/en/
WNS (Holdings) LimitedInvestors:David MackeyCorporate
SVP–Finance & Head of Investor Relations+1 (201)
942-6261david.mackey@wns.comorMedia:Archana RaghuramHead –
Corporate Communications+91 (22) 4095 2397archana.raghuram@wns.com;
pr@wns.com
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