IT and BPO service provider Patni said it bagged a multi-million dollar five-year agreement for providing end-to-end policy administration services for Universal American Corp, a US health insurance company. In addition, Patni has signed a definitive agreement to acquire CHCS Services, Inc, a wholly-owned subsidiary of Universal American.
Patni CEO Jeya Kumar said, ?This represents the largest win in the company?s history and this strategic acquisition of CHCS Services is a strong validation of Patni?s differentiated micro-vertical strategy. This move takes on dual significance for Patni in terms of growing our global Life and Healthcare Insurance business as well as establishing us as a TPA.? The acquisition creates a new hub for Patni in Pensacola , Fla and establishes a new line of business as a third-party administrator (TPA) in the insurance and healthcare sector.
