Cognizant completes acquisition of Bolder Healthcare Solutions
New Delhi: IT firm Cognizant said it has completed the acquisition of Bolder Healthcare Solutions, a provider of revenue cycle management (RCM) solutions to hospitals and healthcare organizations in the US.
The deal, which was announced last month, will help the IT firm further strengthen its play in the healthcare space.
No financial details of the transaction were disclosed.
As part of the deal, about 800 people will become part of Cognizant's operations in Kolkata and Hyderabad. Bolder has about 2,400 employees globally.
Louisville, Kentucky-based Bolder is a privately-held provider of revenue cycle management (RCM) solutions. RCM software and processes integrate and automate healthcare administrative and medical data to ensure benefit eligibility and accurate billing and collections. This helps reduce the time between delivery of service to payment received.
"The addition of Bolder Healthcare Solutions to the Cognizant portfolio enables us to offer more services to a broader range of healthcare providers and equip them with a digital foundation for outcome-based models and greater efficiency," Cognizant Executive Vice President and Global Head of Healthcare Kaushik Bhaumik said.
Cognizant's revenues from its healthcare business grew about 12 percent year-on-year and stood at USD 1.12 billion (29.4 percent of the quarter's revenues) for the October-December 2017 period.
It had acquired TriZetto Corporation in 2014 to boost its revenues from the healthcare space. Last year, it acquired TMG Health among a slew of acquisitions.