BPO firm Genpact on Thursday said it has acquired Jawood, a business services provider to healthcare payer industry, for an undisclosed amount.
The transaction also includes Genpact's purchase of India-based Felix Software, a key subcontracted service provider to Jawood, Genpact said in a statement.
As part of the transaction, 420 employees (Jawood and Felix Software) will become Genpact employees and be integrated into Genpact's healthcare and IT services businesses, it added.
"The addition of Jawood significantly expands our services for the healthcare payer market which is a strategic industry and growth area for us," Genpact President and CEO N V Tiger Tyagarajan said.
Genpact already provides business process management (BPM) and analytics services in areas like claims management, membership management, provider management, clinical services, and finance and accounting.
The healthcare payer industry is seeing enormous growth due to regulatory changes, including transition from ICD9 to ICD10, creation of health insurance exchanges, the development of alternative risk and payment models and compliance with the new US Patient Protection and Affordable Care Act.
Headquartered in US, Jawood provides consulting and technology services including strategy, planning, execution, implementation, test data creation and testing tools to healthcare payers.
Harris Williams & Co acted as the exclusive financial advisor to Jawood for this transaction.