India’s IT giant Cognizant agrees to acquire US-based Bolder Healthcare Solutions (BHS) to boost healthcare solutions.
The US-based BHS is a private provider of Revenue Cycle Management (RCM) solutions to hospitals and other healthcare organizations in the US.
The company is yet to disclose the financial details of the deal.
RCM software and services will help in integration and automation of healthcare administrative and medical data. It will allow accurate billing and faster collections.
A press release from the company says the transaction is expected to close in phase between April to June. It will be subject to satisfaction of closing conditions including regulatory reviews.
Kaushik Bhaumik, Executive Vice-President and Global Head of the Healthcare, Cognizant said,” As the healthcare industry continues to undergo a significant transformation to a value-based care model, digital RCM services and solutions remove complexity and allow providers to streamline their operations.”
BHA is a Kentucky based company that now has over 2200 specialists who serve in over 1400 client locations in the United States. The company has made five acquisitions since 2015.
Michael Shea, CEO of Bolder Healthcare Solutions, said hospitals and physician providers require a specialized revenue cycle management approach to maximize cash flow, lower costs, enhance financial performance and make sure regulatory compliance demands are met.
Joining forces with Cognizant will help Bolder Healthcare to have many tools that will be catalysts for future growth, Shea added.
The leadership team of Bolder Healthcare were senior executives at Med Assist Inc. It was acquired by India’s BPO First Source in 2007.
Cognizant has done various deals since the end of the second quarter of the previous year. It acquired TMG Health, London-based digital service- AgencyZone and Zurich based digital marketing firm Netcentric for undisclosed amounts.