Expanding its footprint in healthcare analytics, New York-based EXL Service Holdings, Inc. has finalized the acquisition of SCIOInspire Holdings, a West Hartford, Conn.-based healthcare analytics solution company, doing business as SCIO Health Analytics.
EXL is an operations management and analytics company. The deal closed at $236.5 million. Company officials said the combined resources help broaden the healthcare footprint of both organizations while deepening analytics capabilities.
Rohit Kapoor, EXL vice chairman and CEO said in a statement, “SCIO adds important elements to EXL’s healthcare growth strategy by complementing our capabilities to sell and deliver more complex clinical work and enlarge our payment integrity services with a focus on fraud, waste and abuse across healthcare payers, pharmacy benefit managers, healthcare providers and life sciences companies. The addition of SCIO’s 1,100 employees to EXL’s 2,000+ clinicians and 3,000+ data scientists worldwide significantly increases our ability to scale to meet the needs of our healthcare clients,” Kapoor said.
Siva Namasivayam, co-founder and chief executive officer, SCIO, said in a press release, “From its founding, SCIO has been dedicated to driving positive change by helping our clients effectively manage critical issues such as the transition to value-based care. We are excited to combine our analytics capabilities and deep healthcare expertise with those of EXL, who is already a world-class global services provider and recognized leader in healthcare analytics.”
Pointing to SCIO’s track record Krishna Kottapalli, chief growth officer and co-founder said, “From our founding in 2007 to today, SCIO has experienced substantial year-over-year growth across the payer, provider, and life sciences segments. We have done this by keeping a laser focus on what is important to our clients – delivering insights and tangible outcomes through a flexible engagement model that helps them succeed in a dynamic environment. Going forward, we will continue to focus on the client experience and look to create even deeper relationships with our clients. “
SCIO’s significant early investors include Sequoia India, Health Enterprise Partners and Saama Capital. TripleTree, LLC served as the exclusive strategic and financial advisor to SCIO in the transaction.
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