India: EXL to acquire Sequoia-backed healthcare analytics firm SCIO for $240m

Operations management and analytics firm EXL announced that it is acquiring SCIOInspire Holdings Inc, a health analytics solution and services firm, for about $240 million, according to a company statement.

EXL, with significant presence in Asia primarily in India and the Philippines, said the acquisition will strengthen the company’s capability in the cost and care optimization markets.

The acquisition is expected to close in the next three months. EXL will fund the purchase with internal cash and borrowing from its credit facility.

SCIO serves over 100 healthcare organizations representing over 130 million covered lives across the spectrum covering providers, health plans, PBMs, employers, health services and global life sciences companies.The company’s significant early investors include Sequoia India, Health Enterprise Partners, and Saama Capital.

SCIO said, it transforms data into actionable insights and outcomes through the use of integrated healthcare data, proprietary analytics, innovative technologies, and flexible delivery methodologies.

“SCIO’s analytical tools and expertise in healthcare claims payment and care optimization expands EXL’s market-leading advanced analytics and healthcare capabilities,” said Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer.

He added that combining SCIO’s workforce to its own team of over 2,000 clinicians and more than 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”.

EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation, and logistics industries.

TripleTree, LLC served as the exclusive strategic and financial advisor to SCIO in the transaction.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.