HMS to Acquire Payment Accuracy Business From Intrado
HMS HOLDINGS CORP (HMSY)
Last hms holdings corp earnings: 2/21 06:00 am
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Source: GlobeNewswire
IRVING, Texas, Nov. 21, 2019 (GLOBE NEWSWIRE) -- HMS Holdings Corp. (Nasdaq: HMSY) today announced it has signed a definitive agreement to acquire Accent, a payment accuracy and cost containment business. HMS will purchase Accent from Intrado Corporation (f/k/a West Corporation) for approximately $155 million, plus net working capital on a cash-free and debt-free basis, which HMS expects to fund with cash on hand. “HMS and Accent are an outstanding strategic fit, and this combination offers numerous benefits for our clients and stakeholders,” said Bill Lucia, HMS Chairman and CEO. “Our collective strengths will provide expanded payment accuracy capabilities across the healthcare payer landscape, and advance cost containment opportunities in the industry. “The addition of Accent’s capabilities will open up a new coordination of benefits market for HMS with commercial payers, and extends our push into the Medicare COB market,” Lucia added. “Accent’s ideation expertise will also exp
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