Bangalore: Bangalore-based business outsourcing firm, Hinduja Global Solutions Ltd (HGS) acquires a majority stake from the U.S. based automation technology firm, Colibrium Partners LLC and Colibrium Direct LLC for an undisclosed amount. The deal has been made by HGS Colibrium Inc., a U.S. subsidiary of HGS, which would own 89.9 percent of Colibrium. As a part of acquisition, the company would bring complementary platform and servicing capabilities to HGS in sales and enrollment areas for the U.S. and global health insurers.
Colibrium has developed a cloud-based platform to implement health insurance portals to facilitate end-to-end work flow automation capability. In December 2014, the company has revenues of $12.6 Million.
On the other side, HGS already serves Fortune 100 health insurance clients, providing services in administrative and clinical functions. Therefore, the cloud-based platform for online self-service combined with a pool of licensed health insurance agents are the key drivers behind the acquisition.
Talking about the investments, Partha DeSarkar, Chief Executive Officer, HGS says, “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”.