ExlService Holdings, Inc. (“EXL”) (NASDAQ: EXLS) today announced it has acquired Landacorp Inc., significantly increasing its capabilities to serve the healthcare industry.
Landacorp, a leading provider of healthcare solutions and technology with more than 50 million members under management on its platforms, has developed services and technology solutions that share vital clinical data with payers, providers, plan participants and accountable care organizations (ACOs). These services and solutions enable collaborative care, provide insights through analytics, improve health and realize cost savings across the healthcare value chain. Landacorp’s flagship CareRadius suite is a flexible platform designed to integrate a payer’s internal and external data to streamline workflows, support collaboration among healthcare professionals and drive better health decision making with analytics.
“I am excited to announce our acquisition of Landacorp, which provides EXL with an end-to-end solution for the healthcare industry, and which is consistent with our strategy of building deep domain expertise in select industry verticals and offering platform-based solutions, ” said Rohit Kapoor, Vice Chairman and CEO of EXL. “This acquisition brings us a best-in-class proprietary technology platform, embedded analytics and deep healthcare domain expertise. Equally important are Landacorp’s strong relationships with many leading health insurers and its strong culture of client centricity. EXL sees an opening to establish a leadership position in healthcare by integrating care management technology, clinical outsourcing services and focused analytics. We believe that this will be a compelling value proposition for healthcare payers and make EXL an ideal partner as they confront both the challenges and opportunities of the market environment.”
For several years, healthcare has been a dynamic and rapidly growing domain for EXL. The company has generated positive business impact for its healthcare clients with strong high end analytics specific to healthcare, and strong clinical services capabilities including over 800 nurses and clinicians. The Landacorp acquisition strengthens EXL’s ability to support the healthcare industry with better outcomes by combining technology, operational efficiency and analytics.
“Landacorp has found a great home in EXL, which has a clear vision for building up its healthcare practice, as well as impressive financial strength,” said Jay Dunlap, General Manager of Landacorp. “Healthcare payers are striving to drive down costs by increasing operational efficiency, to improve health outcomes and to enhance the customer experience. These dynamics, along with demographic trends and rapid regulatory change, are increasing the strategic value of care management systems. I am excited to build on our opportunities and combine them with EXL’s global delivery capabilities, substantial analytics, process re-engineering expertise and deep client relationships to grow Landacorp’s value to its clients.”
Healthcare offers an attractive growth opportunity for EXL, as the industry faces secular cost pressures, regulatory implementation deadlines, potentially surging enrollments, and increasing shortage of analytical staff. According to research firm NelsonHall, the market for outsourced services to healthcare payers should increase to $15 billion in 2016 from $9 billion in 2011.
Prior to this acquisition, Landacorp was a subsidiary of SHPS, Inc. Following its acquisition by EXL, Landacorp will be known as EXL Landa.
EXL will hold a conference call to discuss its acquisition of Landacorp on Tuesday, October 16, 2012 at 8 am EST. The conference call will be available live via internet by accessing the investor relations section of EXL’s website at ir.exlservice.com, where an accompanying investor presentation can also be accessed. Please go to the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.
To listen to the conference call via phone, please dial 1-(877) 303-6384 or 1-(224) 357-2191 and an operator will assist you. For those who cannot access the live broadcast, a replay will be available on the EXL website (ir.exlservice.com).
About Landacorp, Inc.
Landacorp is dedicated to the advancement of healthcare collaboration through technology solutions that capture and share relevant information among providers, payers and members to improve health decisions and optimize cost. CareRadius is the collaborative care suite providing big solutions in healthcare technology. Visit www.landacorp.com for more information.