WNS (Holdings) Limited, a leading provider of global Business Process Management (BPM) services, today announced it has acquired HealthHelp, an industry leader in care management. HealthHelp works closely with both payors and providers to help improve patient outcomes and drive long-term sustainable cost savings for the healthcare industry. The company’s solutions are delivered by combining a proprietary technology platform rooted in evidence-based medical research, high-end predictive analytics, and deep healthcare industry expertise.
HealthHelp provides benefits management across several key specialty healthcare areas, including Radiology, Cardiology, Oncology, Sleep Care, Orthopedics, and Pain Management. The company’s approach is based on a non-denial, collaborative model which includes a peer-to-peer network of over 100 Medical Doctors and 11 university medical systems. HealthHelp’s solutions are powered by a proprietary clinical decision support technology platform called ConsultTM.
This scalable platform enables HealthHelp to process over 70% of its current assessments automatically, ensuring rapid response to procedure authorization requests, and automated escalation to nurses and physician specialists as clinically warranted. The technology embeds predictive analytics which evaluates and drive health care improvement opportunities. Today, HealthHelp’s differentiated approach results in the company’s recommendation being implemented in over 95% of all requests.
As a result, HealthHelp is driving long-term sustainable utilization reform and behavior change, and generating reduced carrier costs and measurable ROI for payors. The company has received utilization management accreditation from URAC and NCQA and is certified as a Quality Improvement Organization (QIO)-like entity.
“With the acquisition of HealthHelp, WNS has taken a major step forward in strengthening our end-to-end Healthcare and Insurance BPM offerings. WNS plans to leverage HealthHelp’s industry-leading capability in care management to address the needs of the payor, provider, and insurance organizations,” said Keshav Murugesh, WNS’ Chief Executive Officer.
“HealthHelp’s deep industry expertise, differentiated market approach and extensive use of technology and analytics make this asset an excellent fit for WNS. In combination with our existing strengths, we believe there are significant opportunities to cross-sell services and create state-of-the-art solutions for the BPM industry. We are excited to welcome the HealthHelp team to WNS,” added Keshav.
“HealthHelp is pleased to join forces with WNS, an established leader in Business Process Management,” said Cherrill Farnsworth, HealthHelp’s CEO. “We believe that together, our firms will be able to successfully address the rapidly evolving and expanding needs of the healthcare industry. We look forward to jointly creating new and enhanced industry-specific solutions which should enable us to reduce the long-term costs of health care, improve outcomes for payors, providers, and patients, and grow our business.”
Founded in 1999 and based in Houston, Texas, HealthHelp currently employs approximately 400 medical and operational professionals in the United States. Consideration for the transaction is $95.0 million excluding adjustments for cash, debt and working capital. WNS has funded the acquisition primarily with long-term debt.
The acquisition of HealthHelp is expected to contribute approximately $2.3 million in revenue for WNS in the fiscal year ending March 31, 2017, and to be immediately accretive to earnings excluding approximately $1.4 million of one-time transaction costs.Cain Brothers & Co. acted as financial advisor and Reed Smith LLP acted as legal advisor to WNS in connection with this transaction.