HMS Holdings

Last updated
HMS Holdings Corp.
Company typePrivate
IndustryBusiness services
Founded1974
Headquarters,
U.S.
Key people
William C. Lucia FLMI
(Chief Executive Officer, President, and Director)
ServicesCost-containment services
RevenueUS$ 598.3M (Feb 22, 2019)
Owner Veritas Capital
Number of employees
2,425 (Sep 30, 2013)
Website 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. [1]

Contents

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. [2]

Operations

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. [3]

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. [4]

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. [5]

Awards

In February 2014, HMS Holdings’ Chief Security Officer, Scott Pettigrew, won the CSO Compass Awards from CSO magazine. Pettigrew has been working in Security for about twenty years and has spent the last four years at HMS. He led the company’s first risk-based security program in 2010. [6]
In 2012 and 2013, HMS Holdings was included in the InformationWeek 500. [7]
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. [8]

Related Research Articles

Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware, and a provider of security products. Headquartered in the Greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of The Stanley Works and Black & Decker on March 12, 2010.

SunGard was an American multinational company based in Wayne, Pennsylvania, which provided software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company. The name of the company originally was an acronym which stood for Sun Guaranteed Access to Recovered Data, a reference to the disaster recovery business it helped pioneer. SunGard was ranked at 480th in the U.S. Fortune 500 list in the year 2012.

<span class="mw-page-title-main">Zebra Technologies</span> American technology company

Zebra Technologies Corporation is an American mobile computing company specializing in technology used to sense, analyze, and act in real time. The company manufactures and sells marking, tracking, and computer printing technologies. Its products include mobile computers and tablets, software, thermal barcode label and receipt printers, RFID smart label printers/encoders/fixed & handheld readers/antennas, autonomous mobile robots (AMR’s) & machine vision (MV), and fixed industrial scanning hardware & software.

<span class="mw-page-title-main">Cerberus Capital Management</span> U.S. investment management company

Cerberus Capital Management, L.P. is an American global alternative investment firm with assets across credit, private equity, and real estate strategies. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia.

<span class="mw-page-title-main">Sierra Wireless</span> Canadian wireless communications company

Sierra Wireless is a Canadian multinational wireless communications equipment designer, manufacturer and services provider headquartered in Richmond, British Columbia, Canada. It also maintains offices and operations in the United States, Korea, Japan, Taiwan, India, France, Australia and New Zealand.

Verint Systems Inc. is a Melville, New York–based technology company that sells products and services for customer experience (CX) automation. The company offers an open platform, applications, and bots that incorporate artificial intelligence (AI), advanced analytics, large language models, and automated workflows to analyze business intelligence from customer interactions in the contact center, back office, branch, web sites, and mobile apps. This information is used by organizations to achieve a variety of business outcomes, such as increasing productivity and service quality without hiring additional workers, lowering costs, improving the customer experience, and enhancing products, services, and competitive differentiation.

IQVIA, formerly Quintiles and IMS Health, Inc., is an American Fortune 500 and S&P 500 multinational company serving the combined industries of health information technology and clinical research. IQVIA is a provider of biopharmaceutical development, professional consulting and commercial outsourcing services, focused primarily on Phase I-IV clinical trials and associated laboratory and analytical services, including investment strategy and management consulting services. It has a network of more than 88,000 employees in more than 100 countries and a market capitalization of US$49 billion as of August 2021. As of 2023, IQVIA was reported to be one of the world's largest contract research organizations (CRO).

<span class="mw-page-title-main">EXL Service</span> American multinational professional services

Exlservice Holdings, Inc. is a global analytics and digital solutions company serving industries including insurance, healthcare, banking and financial services, media, retail, and others. The company is headquartered in New York and has more than 54,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.

<span class="mw-page-title-main">Thomson Reuters</span> Canadian multinational information conglomerate

Thomson Reuters Corporation is a Canadian-American multinational information conglomerate. The company was founded in Toronto, Ontario, Canada and maintains its headquarters at 19 Duncan Street there.

<span class="mw-page-title-main">Welsh, Carson, Anderson & Stowe</span> American private equity firm

Welsh, Carson, Anderson & Stowe (WCAS), also referred to as Welsh Carson, is a private equity firm. WCAS was formed in 1979 and focuses on investing in two growth industries, technology and healthcare, primarily in the United States. WCAS has a current portfolio of approximately 30 companies and has organized 17 limited partnerships with total capital of over $27 billion, consisting of 13 equity partnerships and four subordinated debt partnerships. WCAS is currently investing equity funds, including WCAS XII, L.P. and WCAS XIII, L.P.

Laboratory Corporation of America Holdings, more commonly known as Labcorp, is an American healthcare company headquartered in Burlington, North Carolina. It operates one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories. Before a merger with National Health Laboratory in 1995, the company operated under the name Roche BioMedical. Labcorp performs its largest volume of specialty testing at its Center for Esoteric Testing in Burlington, North Carolina, where the company is headquartered. As of 2018, Labcorp processes 2.5 million lab tests weekly.

Riverbed Technology LLC is an American information technology company. Its products consist of software and hardware focused on Unified Observability, Network Visibility, End User Experience Management, network performance monitoring, application performance management, and wide area networks (WANs), including SD-WAN and WAN optimization.

Athenahealth is a private American company that provides network-enabled services for healthcare and point-of-care mobile apps in the United States.

<span class="mw-page-title-main">Verisk Analytics</span> American data analytics and risk assessment firm

Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey, with customers in insurance, natural resources, financial services, government, and risk management sectors. The company uses proprietary data sets and industry expertise to provide predictive analytics and decision support consultations in areas including fraud prevention, actuarial science, insurance coverage, fire protection, catastrophe and weather risk, and data management.

<span class="mw-page-title-main">API Healthcare</span>

API Healthcare is based in Hartford, Wisconsin and is a developer of healthcare-specific workforce management software. The company is best known for providing workforce management solutions to the healthcare industry.

Change Healthcare is a provider of revenue and payment cycle management that connects payers, providers, and patients within the U.S. healthcare system. The name also refers to a company founded in 2007 which subsequently became part of the current conglomerate. The company operates the largest financial and administrative information exchange in the United States.

Veritas Technologies LLC is an American international data management company headquartered in Santa Clara, California. The company has its origins in Tolerant Systems, founded in 1983 and later renamed Veritas Software. It specializes in storage management software including the first commercial journaling file system, VxFS, VxVM, VCS, the personal/small office backup software Backup Exec and the enterprise backup software, NetBackup. Veritas Record Now was an early CD recording software.

Veritas Capital Fund Management, L.L.C. is a New York–based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The firm's first fund closed in 1998. They closed an eighth flagship fund in 2022; in all, Veritas has approximately $45 billion of assets under management. Veritas is led by Ramzi Musallam, the firm's Chief Executive Officer and Managing Partner.

Maxar Technologies Inc. is a space technology company headquartered in Westminster, Colorado, United States, specializing in manufacturing communication, Earth observation, radar, and on-orbit servicing satellites, satellite products, and related services. DigitalGlobe and MDA Holdings Company merged to become Maxar Technologies on October 5, 2017.

Omnicell, Inc. is an American multinational healthcare technology company headquartered in Fort Worth, Texas. It manufactures automated systems for medication management in hospitals and other healthcare settings, and medication adherence packaging and patient engagement software used by retail pharmacies. Its products are sold under the brand names Omnicell and EnlivenHealth.

References

  1. "Veritas Capital-Backed Gainwell Completes Acquisition of HMS" (Press release). Veritas Capital. Business Wire. April 1, 2021.
  2. "Company Full Description". Reuters . Archived from the original on 2014-02-28.
  3. Holdings, HMS. "HMS Holdings Announces Agreement to Acquire Eliza Corporation: Transaction further expands member health and care management analytics footprint". GlobeNewswire News Room. Retrieved 2017-04-26.
  4. "Form 10-Q for HMS HOLDINGS CORP".
  5. "HMS Holdings Corp. Announces Acquisition of Public Consulting Group's Benefit Solutions Practice Area".
  6. "HMS Holdings Chief Security Officer Wins Once-in-a-Lifetime Award" (Press release). 30 October 2013.
  7. "InformationWeek 500 2013". Archived from the original on 2014-02-28.
  8. "Healthcare's Hottest for 2013; 40 of the healthcare industry's fastest growing companies". 31 July 2013.