Wipro acquired US-based HealthPlan Services for 3150 crore rupees

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Who: US-based HealthPlan Services
What: To be acquired by Wipro for 3150 crore rupees
When: Announced on 11 February 2016

Wipro on 11 February 2016 announced signing of a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners.

Wipro will acquire 100 per cent of HealthPlan Services’ shares for a purchase consideration of 460 million US dollars. However, the transaction is subject to customary regulatory approvals and is expected to be completed in the next 60-90 days.

The acquisition will help the country’s third largest software services firm strengthen its position in the U.S. health insurance market.

About HealthPlan Services

Headquartered in Florida, U.S., HealthPlan was founded in 1970.

It is a leading independent technology and Business Process as a Service (BPaaS) provider in the U.S. health insurance market.

It offers technology platforms to health insurance companies. It connects its payer clients to over 40 public exchanges and over 150 private exchanges in the U.S.