MINNEAPOLIS--(BUSINESS WIRE)--TripleTree, LLC, a strategic advisor and merchant bank serving innovative companies in healthcare, is pleased to announce that its client, SCIO Health Analytics® (SCIO®), a leading provider of advanced healthcare analytics and performance optimization solutions, has entered into an agreement to be acquired by EXL, a leading operations management and analytics company. The purchase consideration for the transaction is $240 million, excluding adjustments for cash, debt and working capital. The transaction is subject to customary closing conditions.
Through its advanced analytics and performance optimization solutions, SCIO is dedicated to helping its clients identify and resolve underlying issues that lead to excessive spending and suboptimal health outcomes. Together, SCIO and EXL will provide a broader range of solutions in payment integrity, care management and customer engagement, helping healthcare and analytics clients improve outcomes, reduce costs, and improve the healthcare experience.
“SCIO’s ability to identify and analyze high value data across disparate parts of the healthcare system is a true differentiator, creating tremendous value to a broad range of industry constituents,” said Dave Brownlie, TripleTree Managing Director. “We are thrilled for SCIO and EXL, as their complementary solutions and shared spirit of innovation will drive real value for their healthcare and analytics clients.”
“We are excited to join EXL, as our combined capabilities will deliver unique value to our clients and provide true end-to-end cost recovery and care management services to some of the top healthcare organizations in the market,” said Siva Namasivayam, Founder and Chief Executive Officer, SCIO. “TripleTree was a powerful resource and excellent partner throughout the entire process. Their hands-on approach and deep understanding of both our business and the market overall propelled us towards a successful outcome.”
TripleTree acted as the exclusive financial advisor to SCIO Health Analytics for this transaction.
TripleTree is an independent merchant bank focused on mergers and acquisitions, growth capital, recapitalizations, strategic advisory and principal investing. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit Triple-Tree.com.
About SCIO Health Analytics
SCIO is a leading health analytics solution and services company serving over 100 organizations representing over 130 million covered lives across the healthcare continuum including providers, health plans, PBMs, employers, health services and global life sciences companies.
SCIO provides scalable predictive analytic solutions and services that transform data into actionable insights, helping healthcare organizations create the understanding that drives change and proven outcomes. SCIO delivers more than $540 million in client value annually through the elimination of healthcare waste and improved performance associated with its reimbursement and care optimization solutions. SCIO’s insights as a service and flexible engagement models provide consultative resources to ensure insights are operationalized and implemented to drive outcomes improvement.
Headquartered in West Hartford, CT, SCIO has more than 1,000 professionals in locations throughout the United States, UK, and India. www.sciohealthanalytics.com