You are here: Home » PTI Stories » National » News
Business Standard

Cognizant to acquire Bolder Healthcare

Press Trust of India  |  New Delhi 

today said it will acquire US-based Solutions for an undisclosed amount, a move that will help the IT firm further strengthen its play in the space.

Louisville, Kentucky-based Bolder is a privately-held provider of revenue cycle (RCM) solutions to hospitals, practices and other specialist organisations in the US.

The transaction is expected to close in the second quarter of 2018, subject to satisfaction of the closing conditions, including regulatory reviews, said in a statement.

RCM software and processes integrate and automate healthcare administrative and medical data to ensure benefit eligibility and accurate billing and collections. This helps reduce the time between delivery of service to payment received.

"Their (Bolder) RCM offerings will further expand Cognizant's leading healthcare consulting, IT and process services into more hospitals, hospital outpatient departments, practices, and other specialty care providers," the statement said.

The acquisition will also enable to expand its range of across the and address the large provider segment of the US

As the continues to undergo significant transformation to a value-based care model, remove complexity and allow providers to streamline their operations, Cognizant of Healthcare Kaushik Bhaumik said.

"When combined with Cognizant's broad set of offerings for payers and providers, Bolder Healthcare Solutions' capabilities and experts will open new market opportunities as we enable more payers and providers to embrace outcome-based models and innovate with data analytics, and robotic process automation for more efficient of their businesses and ultimately better patient outcomes," he added.

Cognizant's revenues from its healthcare grew about 12 per cent year-on-year and stood at USD 1.12 billion (29.4 per cent of the quarter's revenues) for the October-December 2017 period.

It had acquired in 2014 to boost its revenues from the Last year, it acquired among a slew of acquisitions.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 21:05 IST