HMS Holdings
From Wikipedia, the free encyclopedia
| Company type | Private |
|---|---|
| Industry | Business services |
| Founded | 1974 |
| Headquarters | , U.S. |
Key people | William C. Lucia (FLMI) (CEO, president, and Director) |
| Services | Cost-containment services |
| Revenue | US$ 598.3M (Feb 22, 2019) |
| Owner | Veritas Capital |
Number of employees | 2,425 (Sep 30, 2013) |
| Website | www |
HMS Holdings Corp. (Healthcare Management Systems) was founded in 1974 and is based in Irving, Texas. The company was formerly listed on Nasdaq but acquired by private-equity firm Veritas Capital in 2021.[1]
HMS Holdings was acquired by Gainwell Technologies in 2021 for a reported $3.4 billion.[2]
Products and services
The company's services include providing validated insurance and helping find liable third parties. Their program integrity services identify improper payments and over-payments and attempt recovery, as well as reduce fraud and waste. In addition, the company also supports Medicaid Managed Care Organizations and Medicare Advantage Plans.[3]
Acquisitions
In 2006, the company announced to acquire the assets of PCG's Benefits Solutions Practice Area (BSPA) for $80 million in cash, shares of Holdings common stock, and a contingent cash payment of up to $15 million.[4]
The company acquired HealthDataInsights for approximately $400 million in November 2011.[5] In December 2012, HMS Holdings acquired the assets and liabilities of MedRecovery Management, LLC (MRM), for about $11.8 million, with $10.8 million initial cash payment and $1.0 million in future contingent payments.[6]
In April 2017, HMS Holdings acquired the Eliza Corporation, a privately held health engagement management and member analytics firm providing comprehensive and personalized member-centric outreach and engagement solutions, for a cash purchase price of $170 million.[7]
In March 2017, Eliza Corporation, a SaaS health engagement platform, was acquired for $170 million.[8] In September 2016, the company purchased Essette.[9]
In 2019, the company acquired Accent for a reported $155 million.[10]