HMS Completes Acquisition of Accent Payment Accuracy Business
December 23 2019 - 4:05PM
HMS Holdings Corp. (Nasdaq: HMSY) today announced
it completed the acquisition of Accent, a payment accuracy and cost
containment business. HMS purchased Accent from Intrado Corporation
(f/k/a West Corporation) for approximately $155 million, subject to
working capital and other customary adjustments, which HMS funded
with cash on hand.
Accent’s offerings include comprehensive
prospective and retrospective claims accuracy solutions, which
incorporate both cost avoidance and overpayment recovery services.
Its capabilities and client base are highly complementary to HMS,
providing immediate market expansion and growth opportunities.
Accent’s broad spectrum of healthcare payer clients include large
commercial health plans, Blue Cross and Blue Shield plans,
provider-sponsored health plans, Medicare Advantage plans,
third-party administrators and self-insured employer
groups.
“The combination of Accent with HMS will provide
expanded payment accuracy capabilities across the healthcare payer
landscape, and offers numerous benefits for our clients and
stakeholders,” said Bill Lucia, HMS Chairman and CEO. “The addition
of Accent enhances our capabilities across all of our COB and
Payment Integrity solutions, expands our range of edit and audit
solutions, opens up a new coordination of benefits market for HMS
with commercial payers and extends our push into the Medicare COB
market.
“On behalf of HMS, I’d like to welcome the
Accent employees to our team. They will be a critical part of this
business combination as their talent and expertise have been a
significant reason why Accent established and maintains a
leadership position in the markets it serves,” Lucia added.
About HMS
HMS advances the healthcare system by helping
healthcare organizations reduce costs and improve health outcomes.
Through our industry-leading technology, analytics and engagement
solutions, we save billions of dollars annually while helping
consumers lead healthier lives. HMS provides a broad range of
coordination of benefits, payment integrity and population health
management solutions that help move the healthcare system forward.
Visit us at www.hms.com or follow us on Twitter at
@HMSHealthcare.
Safe Harbor Statement
This press release contains “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such statements relate to our
current expectations, projections and assumptions about our
business, the economy and future events or conditions. They do not
relate strictly to historical or current facts. Forward-looking
statements can be identified by words such as “believes,”
“expects,” “future,” “may,” “plans,” “will,” “should,” “plans,”
“anticipates,” “intends,” “estimates,” “predicts,” and similar
references, although some forward-looking statements may be
expressed differently. Factors or events that could cause actual
results to differ may emerge from time to time and are difficult to
predict. Should known or unknown risks or uncertainties
materialize, or should underlying assumptions prove inaccurate,
actual results may differ materially from past results and those
anticipated, estimated or projected. We caution you not to place
undue reliance upon any of these forward-looking statements.
Factors that could cause or contribute to such differences,
include, but are not limited to: our ability to execute our
business plans or growth strategy; our ability to innovate, develop
or implement new or enhanced solutions or services; the nature of
investment and acquisition opportunities we are pursuing, and the
successful execution of such investments and acquisitions; our
ability to successfully integrate acquired businesses (including
Accent) and realize synergies; our ability to comply with current
and future legal and regulatory requirements; and other factors,
risks and uncertainties described in our most recent Annual Report
on Form 10-K and in our other filings with the Securities and
Exchange Commission. Any forward-looking statements are made as of
the date of this press release. Except as may be required by law,
we disclaim any obligation to publicly update forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Contact: |
Media Contact: |
Robert Borchert |
Lacey Hautzinger |
SVP, Investor Relations |
Sr. Director, External
Communications |
robert.borchert@hms.com |
lacey.hautzinger@hms.com |
469-284-2140 |
469-284-7240 |
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