Veritas looks to optimize HMS’ product suite across Gainwell and private equity-backed health care analytics company Cotiviti through the transaction, which was first announced Dec. 21, the companies said Thursday.
Gainwell obtained HMS’ Medicaid-focused offerings through the deal while Cotivity gained access to population health management and payment integrity tools designed for federal and health plan sectors.
Ramzi Musallam, CEO and managing partner of Veritas and six-time Wash100 winner, said HMS has “differentiated capabilities” in the public and private health space he believes will help drive strategic efforts at Gainwell and Cotiviti.
Gainwell was formed by Veritas upon completion of the investment firm’s $5 billion cash purchase of the state and local HHS business from DXC Technology (NYSE: DXC) in October 2020.
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