Wipro Agrees To Acquire HealthPlan Services For $460 Mln

(RTTNews) - Wipro Ltd. (WIT, WIPRO) Thursday announced the signing of a definite agreement to acquire HealthPlan Services from Water Street healthcare Partners for $460 million. Healthplan, headquartered in Tampa, Florida, is an independent technology and Business Process as a Service provider in the U.S. Health Insurance market.

Wipro said Healthplan has more than 2000 associates. This transaction is expected to be completed in next 60 to 90 days.

Jeffrey Heenan Jalil, senior vice president & Head - Healthcare Life Sciences and Services, Wipro Limited said, the partnership with HealthPlan Services positions Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business model. HealthPlan Services strengthens Wipro's position in the health insurance exchange market while offering synergies with Wipro's presence in the Managed Medicare and Commercial Group Insurance markets."