SCIO Health Analytics Culminates 10 Years of Innovation with Announcement of Acquisition by EXL
Published: Jul 03, 2018
Combined resources help broaden healthcare footprint of both organizations while deepening analytics capabilities
WEST HARTFORD, Conn., July 3, 2018 /PRNewswire/ -- SCIO Health Analytics® announced that it completed its sale to EXLService Holdings. Inc. (NASDAQ: EXLS), a leading operations management and analytics company. SCIO's growth over the last 10 years has been driven by its proven leadership in strategy and innovation around the use of big data and analytics to help payers, providers, and life sciences organizations improve revenue, quality, and operations while solving some of healthcare's greatest challenges.
"From its founding, SCIO has been dedicated to driving positive change by helping our clients effectively manage critical issues such as the transition to value-based care," said Siva Namasivayam, co-founder and chief executive officer, SCIO. "We are excited to combine our analytics capabilities and deep healthcare expertise with those of EXL, who is already a world-class global services provider and recognized leader in healthcare analytics."
Pointing to SCIO's track record Krishna Kottapalli, chief growth officer and co-founder said, "From our founding in 2007 to today, SCIO has experienced substantial year-over-year growth across the payer, provider, and life sciences segments. We have done this by keeping a laser focus on what is important to our clients - delivering insights and tangible outcomes through a flexible engagement model that helps them succeed in a dynamic environment. Going forward, we will continue to focus on the client experience and look to create even deeper relationships with our clients."
"SCIO was one of the first organizations to create a healthcare analytics delivery center in Chennai, India," said Karthik Krishnaswami, president, India Operations and co-founder of SCIO. "We have been able to build a talent pool with deep healthcare domain, analytics, and technology skills, which has always been a key strategic advantage. We are excited to join the EXL family and for the opportunity for our employees to further build on this expertise for the benefit of our clients and their own careers."
SCIO's significant early investors include Sequoia India, Health Enterprise Partners and Saama Capital. TripleTree, LLC served as the exclusive strategic and financial advisor to SCIO in the transaction.
SCIO Health Analytics, an EXL company, is a leading health analytics solution and services company. It serves over 100 healthcare organizations representing over 130 million covered lives across the continuum including providers, health plans, PBMs, employers, health services and global life sciences companies.
SCIO provides predictive analytics and insights as a service to transform data into actionable insights, helping healthcare organizations identify opportunities and prescribe actions to drive operational performance and address the healthcare waste epidemic while improving care quality. SCIO is dedicated to helping our clients achieve optimal outcomes and decrease the total cost of care. For more information visit: www.sciohealthanalytics.com
Continuing Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to successfully close and integrate strategic acquisitions, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
Media Contact: SCIO Contact: Brandon Glenn Michele Norton, M.S., R.N. Amendola Communications Senior Vice President Marketing (216) 233-4357 (727) 815-7710 email@example.com firstname.lastname@example.org
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SOURCE SCIO Health Analytics
Company Codes: NASDAQ-NMS:EXLS