Genpact Acquires Healthcare Business Services Company JAWOOD
Adds Healthcare Payer Industry Domain Expertise
Strengthens Capabilities in Addressing New Healthcare Regulations
NEW YORK, Feb. 6, 2013
NEW YORK, Feb. 6, 2013 /PRNewswire/ --Genpact Limited (NYSE: G), a global
leader in business process management and technology services, today announces
that it has acquired JAWOOD, a leading provider of business services to the
healthcare payer industry. The transaction also includes Genpact's purchase
of India-based Felix Software, a key subcontracted service provider to JAWOOD.
(Logo: http://photos.prnewswire.com/prnh/20120501/NY98560LOGO )
This acquisition adds to Genpact's deep domain expertise and strengthens the
company's solutions and services offerings in the healthcare payer market.
Genpact already provides business process management (BPM) and analytics
services in areas such as claims management, membership management, provider
management, clinical services, and finance and accounting. 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 U.S Patient Protection
and Affordable Care Act. This transaction will enable Genpact to build out
strong industry solutions combining process, analytics and technology.
Headquartered in Bingham Farms, Michigan, JAWOOD provides consulting and
technology services including strategy, planning, execution, implementation,
test data creation and testing tools to healthcare payers. Since 1989, JAWOOD
has been providing solutions to its clients, including large marquee
healthcare organizations across the country.
"The addition of JAWOOD significantly expands Genpact's services for the
healthcare payer market which is a strategic industry and growth area for us,"
said Tiger Tyagarajan, president and CEO, Genpact. "Under healthcare reform,
with millions more people eligible for insurance and the creation of the new
insurance 'exchanges,' the demand for solutions in the healthcare payer
industry is expected to continue growing rapidly. 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 organizations make their
operations more effective, and thus address the many sweeping regulatory
changes that will be implemented this year and beyond."
"Given the imminent changes to the healthcare industry, it is even more
imperative now for healthcare payers to ensure that their core business
processes are running at optimal efficiency and that their business systems
have the ability to adapt easily as regulatory changes are implemented," said
Mohit Thukral, senior vice president and global lead, Financial Services,
Insurance and Healthcare, Genpact. "We welcome the talented JAWOOD team to
the Genpact family, and look forward to establishing the Greater Detroit area
as Genpact's healthcare payer services hub."
JAWOOD's specialized expertise includes claims processing, benefit
configuration and management, testing, and a custom platform designed for
BCBS-affiliated companies. JAWOOD also provides proprietary IP, software and
solutions for ICD-10 compliance.
"JAWOOD has been able to grow successfully in the last 20-plus years by
creating niche capabilities for healthcare payers, and this transaction will
allow us to grow even more and build additional capabilities and scale," said
Lynn Mustazza, president and CEO, JAWOOD.
"With Genpact's expertise in business process management, operational
excellence, and analytics, we will be able to compete even more effectively
and profitably in a very dynamic market," said Blaine Mallat, senior vice
president and COO, JAWOOD.
As part of the transaction, the more than 420 combined JAWOOD and Felix
Software employees will become Genpact employees and be integrated into
Genpact's healthcare and IT services businesses.
Harris Williams & Co. acted as the exclusive financial advisor to JAWOOD for
Genpact, a global leader in business process management and technology
services, leverages the power of smarter processes, smarter analytics and
smarter technology to help its clients drive intelligence across their
enterprise. Genpact's Smart Enterprise Processes (SEPSM) framework, its unique
science of process combined with deep domain expertise in multiple industry
verticals, leads to superior business outcomes. Genpact's Smart Decision
Services deliver valuable business insights to its clients through targeted
analytics, reengineering expertise, and advanced risk management. Making
technology more intelligent by embedding it with process and data insights,
Genpact also offers a wide range of technology services. Driven by a passion
for process innovation and operational excellence built on its Lean and Six
Sigma DNA and the legacy of serving GE for more than 15 years, the company's
60,500+ professionals around the globe deliver services to its more than 600
clients from a network of 74 delivery centers across 20 countries supporting
more than 30 languages.
For more information:
Gail Marold (Genpact Media Barbara Tate (For Genpact Rupali Kathuria (For
Relations) U.S.) Genpact India)
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+1 919-345-3899 +1 212-880-5338 +91 124 441 7589
SOURCE Genpact Limited
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