Business process outsourcing firm ExlService Holdings, today 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 organizations (ACOs).
"The acquisition provides Exl with an end-to-end solution for the healthcare industry, and which is consistent with our strategy of building deep domain expertise in select industry verticals and offering platform-based solutions. This acquisition 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 of ExlService.
Exl has been acquiring small companies with niche focus and capabilities over the last few quarters. Last year, the company acquired Trumbull Services, which gave it a stronghold in the insurance space. In 2011 it also closed the acquisition of Outsource partners International (OPI) that has a significant presence in the finance and accounting space and has 3,700 employees.
These services and solutions enable collaborative care, provide insights through analytics, improve health and realize cost savings across the healthcare value chain. Landacorp's flagship CareRadius suite is a platform designed to integrate a payer's internal and external data to streamline workflows, support collaboration among healthcare professionals and drive better health decision making with analytics.
For several years, healthcare has been a dynamic and rapidly growing domain for Exl. The company has generated positive business impact for its healthcare clients with strong high end analytics specific to healthcare, and strong clinical services capabilities including over 800 nurses and clinicians. 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.
