Genpact, India?s largest business process outsourcing (BPO) firm, has acquired US-based Jawood, a provider of business services to the healthcare payer industry. Though the financial details of the deal were not disclosed, the transaction also includes Genpact?s purchase of India-based Felix Software, a key subcontracted service provider to Jawood.
On the other hand, Jawood provides consulting and technology services including strategy, planning, execution, implementation, test data creation and testing tools to healthcare payers.
The healthcare payer industry is seeing enormous growth due to extensive secular and regulatory changes including transition from ICD9 to ICD10, creation of health insurance exchanges, the development of alternative risk and payment models including Accountable Care, and compliance with the new US Patient Protection and Affordable Care Act.
?Genpact?s scale, process excellence, analytical insights, and technology services ? combined with Jawood?s expertise in systems and business processes unique to payers ? will allow us to help many more large healthcare payer organisations make their operations more effective, and thus address the many sweeping regulatory changes that will be implemented this year and beyond,? said NV Tyagarajan, CEO, Genpact.
As part of the transaction, the more than 420 combined Jawood and Felix Software employees will become Genpact employees and be integrated into the BPO?s healthcare and IT services businesses.