HMS Holdings
{{Promotional|date=March 2018}}
{{Infobox company
| name = HMS Holdings Corp.
| type = Private
| industry = Business services
| services = Cost-containment services
| foundation = {{Start date and age|1974}}
| location_city = Irving, Texas
| location_country = U.S.
| revenue = US$ 598.3M (Feb 22, 2019)
| key_people = William C. Lucia (FLMI)
(CEO, president, and Director)
| num_employees = 2,425 (Sep 30, 2013)
| owner = Veritas Capital
| homepage = {{URL| http://www.hms.com/}}
}}
HMS Holdings Corp. (Healthcare Management Systems) was founded in 1974 and is based in Irving, Texas. The company was formerly listed on Nasdaq but acquired by private-equity firm Veritas Capital in 2021.{{cite press release |url= https://www.businesswire.com/news/home/20210401005826/en/Veritas-Capital-Backed-Gainwell-Completes-Acquisition-of-HMS |title=Veritas Capital-Backed Gainwell Completes Acquisition of HMS |date=April 1, 2021 |agency=Business Wire |publisher=Veritas Capital}}
History
HMS Holdings was acquired by Gainwell Technologies in 2021 for a reported $3.4 billion.{{Cite web |last=Roop |first=Jason |date=2021-04-07 |title=Gainwell Technologies acquires health care tech company for $3.4B |url=https://virginiabusiness.com/gainwell-technologies-acquires-health-care-tech-company-for-3-4b/ |access-date=2024-12-03 |website=Virginia Business |language=en-US}}
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.{{cite web |url= https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=HMSY.O|archive-url= https://archive.today/20140228155527/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=HMSY.O|url-status= dead|archive-date= 2014-02-28|title= Company Full Description| website=Reuters }}
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.{{cite web |title=HMS Holdings Corp. Announces Acquisition of Public Consulting Group's Benefit Solutions Practice Area. |url=http://www.thefreelibrary.com/HMS+Holdings+Corp.+Announces+Acquisition+of+Public+Consulting+Group's...-a0147352138}}
The company acquired HealthDataInsights for approximately $400 million in November 2011.{{Cite web |date=2011-11-07 |title=HMS Holdings acquires HealthDataInsights for $400M |url=https://www.healthcareitnews.com/news/hms-holdings-acquires-healthdatainsights-400m |access-date=2024-12-09 |website=Healthcare IT News |language=en}} 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.{{cite web |url= http://biz.yahoo.com/e/130513/hmsy10-q.html|title= Form 10-Q for HMS HOLDINGS CORP}}
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.{{Cite news |last=Holdings |first=HMS |title=HMS Holdings Announces Agreement to Acquire Eliza Corporation: Transaction further expands member health and care management analytics footprint |url=https://globenewswire.com/news-release/2017/03/13/934870/0/en/HMS-Holdings-Announces-Agreement-to-Acquire-Eliza-Corporation-Transaction-further-expands-member-health-and-care-management-analytics-footprint.html |access-date=2017-04-26 |work=GlobeNewswire News Room |language=en-US}}
In March 2017, Eliza Corporation, a SaaS health engagement platform, was acquired for $170 million.{{Cite web |date=2017-03-16 |title=HMS Holdings acquires patient engagement company Eliza Health for $170M |url=https://www.mobihealthnews.com/content/hms-holdings-acquires-patient-engagement-company-eliza-health-170m |access-date=2025-01-27 |website=MobiHealthNews |language=en}} In September 2016, the company purchased Essette.{{Cite web |date=2016-09-08 |title=HMS Holdings acquires population health company Essette |url=https://www.mobihealthnews.com/content/hms-holdings-acquires-population-health-company-essette |access-date=2025-01-27 |website=MobiHealthNews |language=en}}
In 2019, the company acquired Accent for a reported $155 million.{{Cite web |last=Pennic |first=Fred |date=2019-11-21 |title=HMS Holdings Corp to Acquire Payment Accuracy Company Accent for $155M |url=https://hitconsultant.net/2019/11/21/hms-holdings-corp-to-acquire-payment-accuracy-company-accent-for-155m/ |access-date=2024-12-09 |website=hitconsultant.net |language=en-US}}
Awards
In 2012 and 2013, HMS Holdings was included in the InformationWeek 500.{{cite web|url= http://old.informationweek.com/iw500/2013/viewList?sortby=Company&qNum=5|archive-url= https://archive.today/20140228155526/http://old.informationweek.com/iw500/2013/viewList?sortby=Company&qNum=5|url-status= dead|archive-date= 2014-02-28|title= InformationWeek 500 2013}}
In 2013, HMS Holdings was included on Modern Healthcare magazine's "Healthcare’s Hottest" list as one of the 40 fastest growing companies in healthcare.{{cite web |url= http://www.modernhealthcare.com/article/20130805/INFO/130739981|title= Healthcare's Hottest for 2013; 40 of the healthcare industry's fastest growing companies|date= 31 July 2013}}
References
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External links
- [http://www.hms.com Official Website]
Category:American companies established in 1974
Category:Business services companies of the United States
Category:Business services companies established in 1974
Category:Companies formerly listed on the Nasdaq
Category:1974 establishments in Texas
Category:2021 mergers and acquisitions