[{"innerBlocks":[],"name":"core\/freeform","postId":257,"blockType":{"name":"core\/freeform","keywords":[],"attributes":{"content":{"type":"string","source":"raw"},"lock":{"type":"object"}},"providesContext":[],"usesContext":[],"selectors":[],"supports":{"className":false,"customClassName":false,"reusable":false},"styles":[],"variations":[],"apiVersion":3,"title":"Classic","description":"Use the classic WordPress editor.","category":"text"},"originalContent":"HMS Holdings \u2014an IT vendor in the benefits, payments and population health space\u2014is broadening its scope by acquiring Accent from Intrado in a $155 million cash purchase.The deal, announced on Thursday, is intended to expand the HMS business line for commercial and Medicare Advantage plans\u2014Accent\u2019s forte\u2014to build on HMS\u2019 prospective and retrospective claims accuracy services.Irving, Texas-based HMS will buy Accent for $155 million, plus net working capital, on a cash-free and debt-free basis, planning to fund it from cash on hand. The closing of the deal is expected to close in the fourth quarter of HMS\u2019 fiscal year, subject to customary closing conditions and regulatory approvals, including expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.Accent\u2019s offerings include comprehensive prospective and retrospective claims accuracy solutions, which incorporate both cost avoidance and overpayment recovery services. Executives of both companies say Accent\u2019s capabilities and client base are highly complementary to HMS.Accent\u2019s 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. Accent generated about $50 million in net revenue in the last 12 months, based on unaudited, internal segment performance disclosures.

\u201cHMS and Accent are an outstanding strategic fit, and this combination offers numerous benefits for our clients and stakeholders,\u201d said Bill Lucia, HMS chairman and CEO. \u201cOur collective strengths will provide expanded payment accuracy capabilities across the healthcare payer landscape, and advance cost containment opportunities in the industry.\u201cThe addition of Accent\u2019s capabilities will open up a new coordination of benefits market for HMS with commercial payers, and extends our push into the Medicare COB market,\u201d Lucia added. \u201cAccent\u2019s ideation expertise will also expand our range of edit and audit solutions, and enhance our skills across all of our COB and Payment Integrity solutions.\u201dAt least one analyst looks positively on the transaction."We have a favorable view of this transaction, which expands HMS's core payment integrity and coordination of benefits businesses by accelerating growth in the commercial and Medicare markets, which HMS has made efforts to expand into, and enhancing the range of edit and audit solutions that HMS can utilize across its current book of business," says Richard Close, an analyst with Canaccord Genuity.","saveContent":"HMS Holdings \u2014an IT vendor in the benefits, payments and population health space\u2014is broadening its scope by acquiring Accent from Intrado in a $155 million cash purchase.The deal, announced on Thursday, is intended to expand the HMS business line for commercial and Medicare Advantage plans\u2014Accent\u2019s forte\u2014to build on HMS\u2019 prospective and retrospective claims accuracy services.Irving, Texas-based HMS will buy Accent for $155 million, plus net working capital, on a cash-free and debt-free basis, planning to fund it from cash on hand. The closing of the deal is expected to close in the fourth quarter of HMS\u2019 fiscal year, subject to customary closing conditions and regulatory approvals, including expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.Accent\u2019s offerings include comprehensive prospective and retrospective claims accuracy solutions, which incorporate both cost avoidance and overpayment recovery services. Executives of both companies say Accent\u2019s capabilities and client base are highly complementary to HMS.Accent\u2019s 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. Accent generated about $50 million in net revenue in the last 12 months, based on unaudited, internal segment performance disclosures.

HMS buys Accent for $155M to expand offerings for health plans