After making a string of digital health deals over the past few years, HMS Holdings Corp. (NASDAQ: HMSY) has now expanded into the managed care sector. In the last week of November, the company announced its acquisition of Accent from Intrado Corporation for $155 million.
The target company is a payment accuracy and cost containment business. Accent’s healthcare payer clients include large commercial health plans, Blue Cross and Blue Shield plans, provider-sponsored health plans, Medicare Advantage plans, third-party administrators and self-insured employer groups. Its offerings include comprehensive prospective and retrospective claims accuracy solutions, which incorporate cost avoidance and overpayment recovery services. Accent had approximate net revenue of $50 million in the last 12 months.
Accent’s capabilities and client base are highly complementary to HMS, providing immediate market expansion and growth opportunities. The addition of Accent’s capabilities will open up a new coordination of benefits market for HMS with commercial payers, and extends its push into the Medicare COB market.
HMS last reported a deal in September, when it purchased VitreosHealth for $36.5 million. The digital health company operates Elli, an artificial intelligence-driven platform that leverages data from a broad set of sources, including electronic health records, claims, health risk assessments and socioeconomic data that allows clinicians and health plan administrators alike to identify and address care gaps within their member or patient populations.