M&A: CIO-SP3 Prime spins off $6.7B analytics and consulting firm

Xerox spins off $6.7 billion analytics and business process specialist Conduent – January 3, 2017, By Tom Sullivan, HealthcareITNews

Xerox on Jan. 3 announced that its business process services unit is has now become an independent and publicly-traded entity known as Conduent.

“As a standalone company, Conduent will bring a more refined focus, knowledge, depth and understanding to be an essential partner to healthcare organizations,” said Rohan Kulkarni, vice president of strategy and portfolio at Conduent Health.

Conduent, which estimated it will bring in $6.7 billion in annual revenue, will also offer the same technologies and services that Xerox offered, including the Midas+ healthcare analytics and workflow package, Care Integration Services, Health Outcomes Services, and the array of Virtual Health Solutions, including telehealth offerings.

“Beyond these provider-focused offerings, we’ll continue to work with payers, governments and pharmaceutical companies,” Kulkarni added.

Those offerings include claims processing, managing state governments payments to providers, and pharmaceutical product lifecycle management.

“Conduent will continue to work closely with clients across the entire healthcare ecosystem to help them improve the patient experience and health outcomes at a lower cost,” Kulkarni said…

G2X TAKE: While this large technology firm has not had a lot of success using the NITAAC vehicle, the news of a spin-off group that will offer “analytics, telehealth and workflow tools among its healthcare-centric products and services” will have both competitors and potential partners taking notice.

The few wins that G2X was able to identify for Xerox using CIO-SP3 were for tasks outside of Federal Health, but the new Conduent organization has clearly set their sights on health as a primary area of focus. With a rather impressive set of commercial and government health expertise, this is an interesting partner option for opportunities that come out on CIO-SP3, and elsewhere.

We should note that there has been no official announcement that Conduent will take the CIO-SP3 contract with them, but the contract vehicle is listed on their new site.

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