EXL, an operations management and analytics company has signed an agreement to acquire SCIO Health Analytics, a West Hartford Connecticut-based leading healthcare analytics solution and services company for $240 million, excluding adjustments for cash, debt, and working capital. SCIO has been focused on using next-generation analytics to help payers, providers, and life sciences organizations make the transition to value-based care, improve revenue, reduce financial loss, uncover fraud, waste, and abuse around prescription pharmaceuticals and more.
For more than 10 years SCIO has been driving care and reimbursement optimization for its clients through its leading healthcare analytics solutions and services. SCIO’s unique 360° view of the patient, provider and claim is informed by deep clinical, payment, analytics and data expertise. Through the use of integrated healthcare data, proprietary analytics, innovative technologies and flexible delivery methodologies, SCIO transforms data into actionable insights and proven outcomes.
Over the last couple of years, the company has grown considerably, both financially and in its ability to deliver analytics-based technology and services. The acquisition by EXL will help SCIO continue to build on this base while enabling it to go even deeper. It will also expand EXL’s presence in the healthcare industry by taking advantage of SCIO’s strong client relationships across all sectors.
“The acquisition will strengthen EXL’s capability in the high growth cost optimization and care optimization markets. SCIO’s analytical tools and expertise in healthcare claims payment and care optimization expands EXL’s market-leading advanced analytics and healthcare capabilities. Combining the talented team at SCIO to our team of 2,000+ clinicians and 3,000+ data scientists worldwide significantly increases our ability to scale to meet the needs of larger clients and increases our reach into pharmacy benefit managers, healthcare providers and life sciences companies,” said Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer.
