News : Wipro Limited Signs Agreement to Acquire HealthPlan Services
Bangalore, India and Somerset, New Jersey, USA February 11, 2016 -- Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a global information technology, consulting and business process services company, announced that it has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. As part of the agreement, Wipro will acquire 100% of HealthPlan Services' shares.
"The partnership with HealthPlan Services positions Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business model. HealthPlan Services strengthens Wipro's position in the health insurance exchange market while offering synergies with Wipro's presence in the Managed Medicare and Commercial Group Insurance markets. The addition of HealthPlan Services' capabilities complements Wipro's strengths in claims processing and back office services.
"We are excited about what Wipro and HealthPlan Services can accomplish together for our customers and employees," said Jeff Bak, CEO and President of HealthPlan Services.
Laura Collins, Editorial Management
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Published: Monday, February 15, 2016