Hinduja Global Solutions acquires Colibrium
30 Mar 2015
Hinduja Global Solutions Ltd (HGS) has acquired a majority stake in Colibrium Partners and Colibrium Direct (Colibrium), through its US subsidiary HGS Colibrium Inc, for an undisclosed sum.
HGS Colibrium will own about 89.9-per cent of Colibrium with the balance remaining with the founders. For the year-ended 31 December 2014, Colibrium reported revenues of $12.6 million.
The addition of Colibrium Partners and Colibrium Direct brings complementary platform and servicing capabilities in the sales and enrollment area for the US and global health insurers, HGS said in a statement, adding, HGS already provides a broad array of services in both administrative and clinical functions to Fortune 100 health insurance clients.
The acquisition of a health insurance technology and services company in the US market, complements and increases the already strong healthcare payer servicing capability of HGS.
The cloud-based platform for online self-service combined with a pool of licensed health insurance agents are the reasons behind this acquisition.
Colibrium brings in expertise in sales and marketing of health insurance exchanges, the employer group market and brokers. These capabilities address a known need in the rapidly growing market for turnkey health insurance purchasing and enrollment solutions.
Additionally, HGS and Colibrium's healthcare insurance clients will benefit from the combined capabilities of the two businesses.
''With more than 30 clients, a leading technology platform and several hundred licensed health insurance agents, this investment in the fast evolving health insurance market represents a significant competitive advantage for HGS. We are already recognized as one of the largest and most capable providers of outsourced business process management to the health insurance industry,'' said Partha DeSarkar, CEO, HGS.