Mumbai: Business process outsourcing firm ExlService Holdings on Tuesday announced the acquisition of Landacorp, significantly increasing its capabilities in the healthcare industry. The financial details of the deal were not disclosed.
Landacorp, a provider of healthcare solutions and technology, with more than 50 million members under management on its platforms, has developed services and technology solutions that share clinical data with payers, providers, plan participants and accountable care organisations.
“The acquisition provides Exl with an end-to-end solution for the healthcare industry which is consistent with our strategy of building deep domain expertise in select industry verticals and offering platform-based solutions. It gives us access to proprietary technology platform, embedded analytics and healthcare domain expertise. Equally important are Landacorp’s strong relationships with many leading health insurers and its strong culture of client centricity,” said Rohit Kapoor, vice-chairman and CEO, ExlService.
Exl has been acquiring small companies with niche focus and capabilities over the last few quarters. Last year, it acquired Trumbull Services, which gave it a stronghold in the insurance space. In 2011, it also closed the acquisition of Outsource Partners International that has a significant presence in the finance and accounting space with 3,700 employees.
With this acquisition, Exl also gets Landacorp’s flagship CareRadius suite, a platform designed to integrate a payer’s internal and external data to streamline workflows, support collaboration among healthcare professionals and drive health decision making with analytics.
For several years, healthcare has been a dynamic and rapidly growing domain for Exl. The Landacorp acquisition strengthens Exl's ability to support the healthcare industry with better outcomes by combining technology, operational efficiency and analytics.
Healthcare offers an attractive growth opportunity for the IT and BPO industry. According to research firm NelsonHall, the market for outsourced services to healthcare payers should increase to $15 billion in 2016 from $9 billion in 2011.
Prior to this acquisition, Landacorp was a subsidiary of SHPS, Inc. Following its acquisition by Exl, Landacorp will be known as Exl Landa.
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