Sign In
Free Newsletter
Cognizant to acquire TMG Health
Emily Bader//June 14, 2017//
Listen to this articleTeaneck-based Cognizant announced it has agreed to purchase TMG Health, a subsidiary of Health Care Service Corp.
Teaneck-based Cognizant announced it has agreed to purchase TMG Health, a subsidiary of Health Care Service Corp.
As part of the expansion of Cognizant’s strategic relationship with HCSC, TMG Health will enter into a new, expanded multiyear service agreement to continue to provide information technology, business process and other services to HCSC’s operating units and subsidiaries.
The transaction is expected to close in the third quarter of 2017. Financial terms were not disclosed.
TMG Health, which has offices in Pennsylvania and Texas, is a provider of business process services to the Medicare Advantage, Medicare Part D and Managed Medicaid markets in the United States. It supports 32 client plans and more than 4.3 million members throughout the U.S.
As part of the expansion of Cognizant’s strategic relationship with HCSC, TMG Health will enter into a new, expanded multiyear service agreement to continue to provide information technology, business process and other services to HCSC’s operating units and subsidiaries.
The transaction is expected to close in the third quarter of 2017. Financial terms were not disclosed.
TMG Health, which has offices in Pennsylvania and Texas, is a provider of business process services to the Medicare Advantage, Medicare Part D and Managed Medicaid markets in the United States. It supports 32 client plans and more than 4.3 million members throughout the U.S.
Upon closing the deal, TMG Health’s health care business and technology professionals will become employees of Cognizant.
“Cognizant and TMG Health are an ideal strategic fit because we share similar priorities and values when it comes to helping clients deliver superior member-centric care, enable efficient claims processing and efficiently meet state and federal regulatory requirements,” Susan Rawlings Molina, CEO and president, TMG Health, said. “Government business lines are expanding, and more payers, big and small, are entering the market. We believe there is a growing opportunity for our experienced teams to work together to help current and future clients succeed in highly regulated, cost- and compliance-driven markets.”
“On an ongoing basis we look at ways to increase our agility and enhance technology to serve our members’ evolving needs,” Andy Napoli, senior vice president and chief customer service pfficer of HCSC, said. “By joining forces in this way, Cognizant and TMG Health can combine their unique strengths to accelerate innovation across people, process and technology capabilities so that we can better serve members now and in the future.”
“Cognizant and TMG Health are an ideal strategic fit because we share similar priorities and values when it comes to helping clients deliver superior member-centric care, enable efficient claims processing and efficiently meet state and federal regulatory requirements,” Susan Rawlings Molina, CEO and president, TMG Health, said. “Government business lines are expanding, and more payers, big and small, are entering the market. We believe there is a growing opportunity for our experienced teams to work together to help current and future clients succeed in highly regulated, cost- and compliance-driven markets.”
“On an ongoing basis we look at ways to increase our agility and enhance technology to serve our members’ evolving needs,” Andy Napoli, senior vice president and chief customer service pfficer of HCSC, said. “By joining forces in this way, Cognizant and TMG Health can combine their unique strengths to accelerate innovation across people, process and technology capabilities so that we can better serve members now and in the future.”
