EXL Deepens Investment in Healthcare and Analytics by Signing a Definitive Agreement to Acquire Payment Integrity and Population Risk Management Company SCIOInspire Holdings, Inc

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Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer, stated, "The acquisition will strengthen EXL's capability in the high growth cost optimization and care optimization markets. SCIO's analytical tools and expertise in healthcare claims payment and care optimization expands EXL's market-leading advanced analytics and healthcare capabilities. Combining the talented team at SCIO to our team of 2,000+ clinicians and 3,000+ data scientists worldwide significantly increases our ability to scale to meet the needs of larger clients and increases our reach into pharmacy benefit managers, healthcare providers and life sciences companies."
"SCIO is dedicated to driving positive change by helping our clients effectively manage the transition to value-based care," said Siva Namasivayam, Founder and Chief Executive Officer, SCIO. "We are excited to join EXL, a world-class operations management and analytics Company and a recognized leader in healthcare analytics. Together, our combined synergies and innovation in end-to-end cost recovery, care management and population risk management delivers powerful solutions to our clients - helping healthcare organizations achieve optimal outcomes while reducing the total cost of care."

The aggregate merger consideration is $240 million, subject to adjustment based on, among other things, SCIO's cash, debt, working capital position and other adjustments set forth in the Merger Agreement. EXL intends to fund the purchase with available cash on hand and borrowing from its credit facility. The acquisition is anticipated to close in the next three months, subject to the fulfillment of certain closing conditions, including regulatory and other customary consents. (m0re)