Patni bags deal from Universal American

By SiliconIndia   |   Wednesday, 28 April 2010, 02:37 Hrs   |    9 Comments
Printer Print Email Email
Patni bags deal from Universal American
Mumbai: IT and BPO services provider Patni Computer Systems announced that it has won a multi-million dollar deal from Universal American, a senior health insurance company in the U.S. In addition, Patni has signed a definitive agreement to acquire CHCS Services, a wholly owned subsidiary of Universal American.

The acquisition creates a new hub for Patni in Pensacola, Florida and establishes a new line of business for Patni as a Third-Party Administrator (TPA) in the insurance and healthcare sector, significantly enhancing its existing BPO capabilities to deliver end-to-end platform based solutions and TPA services to insurance providers' back-office transactions.

Commenting on the development, Jeya Kumar, CEO, Patni said, "This represents the largest win in the company's history and this strategic acquisition of CHCS Services is a strong validation of Patni's differentiated micro-vertical strategy. This move takes on dual significance for Patni in terms of growing our global life and healthcare insurance business as well as establishing us as a TPA."

Patni will add to its onshore delivery capability in North America where it already has centers in Bloomington, Illinois and El Paso, Texas in addition to its near shore centre in Mexico.

Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..