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Conduent Buys N.Y.-Based Health Care Software Company

The Xerox spin-off completed the divestiture of $1 billion in assets earlier this year.

Conduent, which recently completed its divestiture of $1 billion in assets to create a better corporate alignment in what it called its core business, announced its plans to buy a health care software provider.

The Florham Park, N.J. solution provider said the deal is subject to regulatory conditions but is expected to close in the fourth quarter. Terms of the deal were not disclosed.

Health Solutions Plus, a software provider of health care payer administration solutions, was ranked as the number one vendor for payer claims and administration platforms in the 2018 Best in KLAS: Software and Services report, Conduent said.

"We are one of the few companies in the healthcare services industry with the capacity to connect the entire healthcare ecosystem with deep expertise and relationships in each major market segment from payer and provider to pharmaceutical and government," Pratap Sarker, Group Chief Executive, Conduent, Financial Services and Healthcare, said in a statement. "The purchase of HSP is highly strategic for us and will help drive growth."

Conduent said Melville, N.Y.-based Health Solutions Plus offers a modern core administration processing system solution, which is a key connector of administrative functions for healthcare funding entities, including commercial payers, managed care organizations, state Medicaid agencies and Medicare advantage payers. The acquisition is expected to let Conduent to take advantage of the growing Medicaid managed care market and allow the company to expand its portfolio of services for its large commercial healthcare clients.

Health Solutions Plus provides payer solutions that offer flexibility and automation to support extended health products like dental, vision and specialty health benefits products. Besides providing end-to-end administration processing – from enrollment to billing to final reporting – the HSP Payer Suite can support multiple lines of business, including commercial, Medicaid, Medi-Cal and Medicare Advantage.

Founded in 1996, Health Solutions Plus is a privately held company and supports more than 20 million people insured by healthcare organizations across medical, dental, vision and extended health products.

Conduent has had its share of bad news lately with problems at Conduent-run cashless tolls in Florida, New Hampshire, Michigan and New York that prompted a joint statement on July 30 by U.S. Senators Bill Nelson (D-Fla.) and Gary Peters (D-Mich.), who called the company out on a "pattern of mismanagement" and urged the FTC to investigate.

The company has managed to shed $1 billion in non-core assets after it was split from Xerox at the beginning of 2017.

As part of that divestiture, Conduent completed the sale of its commercial vehicle operations business June 28 and sold its off-street parking business July 10. A deal for company’s HR consulting business, for which a buyer was announced in May has closed. The company also sold its local government services business. All told, the company said it expects $600 million from those deals.

Conduent is also found a buyer for 15 customer care contracts worth about $500 million.

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