India: IT major Cognizant acquires US-based Bolder Healthcare Solutions

Photo: Bloomberg
Photo: Bloomberg

Technology major Cognizant is acquiring US-based Bolder Healthcare Solutions, a  revenue cycle management (RCM) solutions provider to healthcare organisations in the US.

The financial details of the deal, which is likely to be closed in the second quarter of 2018, were not disclosed.

Bolder’s RCM offerings will further expand Cognizant’s leading healthcare consulting, IT and business process services into more hospitals, hospital outpatient departments, physician practices, and other specialty care providers, the IT firm said in a statement.

The acquisition will also enable Cognizant to expand its range of digital solutions across the healthcare value chain and address the large provider segment of the US healthcare market.

“As the healthcare industry continues to undergo significant transformation to a value-based care model, digital RCM services and solutions remove complexity and allow providers to streamline their operations,” said Kaushik Bhaumik, Executive Vice President and Global Head of Healthcare at Cognizant.

“By joining forces with Cognizant, we will have many new tools that will be a catalyst for future growth.  The increased capabilities will allow Bolder to continue to be on the cutting edge of provider RCM and this forward looking combination will create new opportunities for Cognizant in the hospital provider, specialty physician, and other professional markets,” said Michael Shea, CEO of Bolder Healthcare Solutions.

Nasdaq-listed Cognizant has been trying to strengthen its offerings in the healthcare technology space through the inorganic route. Last year, it acquired another US-based firm Health Care Service Corporation’s (HCSC) subsidiary TMG Health.

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