Scandent gets Rs 290 crore contract

Scandent Solutions Corporation Ltd has announced that its subsidiary Cambridge Australia has been awarded a four-year renewal contract by the State Victoria WorkCover Authority to process their workers compensation claims.

The contract will be effective until June 30, 2010 and has an estimated value of $64.5 million (Rs 290 crore).

Originally appointed and selected in 2002, the Cambridge Victoria operation's primary focus since July 2002 has been to ensure a successful delivery and implementation of a workers compensation and claims management system to the Victoria WorkCover Authority.

In just over three years Cambridge has achieved significant reductions in their key continuance rate measures and projected claim costs while managing approximately 30,000 policies for the Victoria WorkCover Authority.

"This four year contract with the Victoria WorkCover Authority continues to demonstrate the success of our strategy of being able to service and deliver complex high end knowledge based outsourcing engagements," stated Chris Sinclair, executive chairman and CEO, Scandent.

To accommodate this major growth and expansion, Cambridge recently announced the dedication of a new facility in Melbourne, Australia. The state-of-the-art facility spread across 3,000 square metres will support 200 employees.

In addition to this Victoria WorkCover Authority contract, Cambridge was recently awarded a three-year contract valued at $37.7 million (Rs 170 crore) by the New South Wales (NSW) WorkCover Authority to process their workers compensation claims. Effective on January 1, 2006, the contract will give Cambridge an 8 per cent market share.