HMS Holdings Corp. (''Healthcare Management Systems'') was founded in 1974 and is based in
Irving, Texas
Irving is a city in Dallas County, Texas, United States. It is part of the Mid-Cities region of the Dallas–Fort Worth metroplex and is an Inner suburb, inner city suburb of Dallas. Irving is noted for its #Demographics, racial and ethnic diver ...
. The company was formerly listed on
Nasdaq
The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...
but acquired by private-equity firm
Veritas Capital
Veritas Capital Fund Management, L.L.C. is a New York–based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial ...
in 2021.
History
HMS Holdings was acquired by Gainwell Technologies in 2021 for a reported $3.4 billion.
Products and services
The company's services include providing validated insurance and helping find liable third parties. Their program integrity services identify improper payments and over-payments and attempt recovery, as well as reduce fraud and waste. In addition, the company also supports Medicaid Managed Care Organizations and Medicare Advantage Plans.
Acquisitions
In 2006, the Company announced to acquire the assets of PCG's Benefits Solutions Practice Area (BSPA) for $80 million in cash, shares of Holdings common stock, and a contingent cash payment of up to $15 million.
The company acquired HealthDataInsights for approximately $400 million in November 2011. In December 2012, HMS Holdings acquired the assets and liabilities of MedRecovery Management, LLC (MRM), for about $11.8 million, with $10.8 million initial cash payment and $1.0 million in future contingent payments.
In April 2017, HMS Holdings acquired the Eliza Corporation, a privately held health engagement management and member analytics firm providing comprehensive and personalized member-centric outreach and engagement solutions, for a cash purchase price of $170 million.
In March 2017, Eliza Corporation, a SaaS health engagement platform, was acquired for $170 million. In September 2016, the company purchased Essette.
In 2019, the company acquired Accent for a reported $155 million.
Awards
In 2012 and 2013, HMS Holdings was included in the
InformationWeek
''InformationWeek'' is a digital magazine which conducts corresponding face-to-face events, virtual events, and research. It is headquartered in San Francisco, California
California () is a U.S. state, state in the Western United State ...
500.
In 2013, HMS Holdings was included on
Modern Healthcare
''Modern Healthcare'' is a twice monthly business publication targeting executives in the healthcare industry. It is an independent American publisher of national and regional healthcare news.
The publication is also known for providing statisti ...
magazine's "Healthcare’s Hottest" list as one of the 40 fastest growing companies in healthcare.
References
{{reflist
External links
Official Website
American companies established in 1974
Business services companies of the United States
Business services companies established in 1974
Companies formerly listed on the Nasdaq
1974 establishments in Texas
2021 mergers and acquisitions
Companies based in Irving, Texas
Private equity portfolio companies