MphasiS Enters Healthcare Insurance and Payments BPO Market

Monday 14 March 2005 21:37 CET | News

The MphasiS BFL Group, has entered into a definitive agreement to acquire Eldorado Computing Inc., a US based healthcare benefits management solutions firm, for US$ 16.5 million in an all cash deal. The deal also allows for a performance based incentive for Eldorados top management over the next three years. The transaction is expected to be immediately EPS accretive.

Eldorado Computing, Inc., a profitable entity with revenues of over $10 million, specializes in claims processing and benefit management solutions for the health insurance industry. Eldorados customers include third party administrators, HMOs, insurance companies, self-funded employers, preferred provider organizations, associations, managed care organizations and unions. With 128 clients representing 2.5 million members, the Company is a leader in technology administration solutions for healthcare payers. Its core business products and services include software solutions for health benefit management offered on a licensed basis or on an Application Service Provider platform. This solution streamlines the administrative costs and the technology required to command the processes of claims, billing, administration, case management, workflow, online enrollment and customer service. Beginning with its first system release in 1984, Eldorado Computing Inc. has enjoyed steady growth and achieved widespread acceptance of its systems making it one of the industrys dominant vendors. Recently Eldorado has started to package their platform with Business Process Outsourcing services in the claims administration space. The transaction is expected to be completed in the quarter ending 31 March 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce