Wipro to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, the Indian software major said in a statement.

As part of the agreement, Wipro will acquire 100 percent of HealthPlan Services' shares for a purchase consideration of USD 460 million, it added.

Headquartered in Florida, US, HealthPlan is a leading independent technology and Business Process as a Service(BPaaS) provider in the US health insurance market.

HealthPlan Services employs over 2,000 associates. It offers technology platforms to health insurance companies (payers) in the individual, group and ancillary markets.

It connects its payer clients to over 40 public exchanges and over 150 private exchanges in the US.

Wipro's clients currently include over 100 US payers, healthcare providers, and public health agencies, it added.

The Patient Protection and Affordable Care Act has dramatically altered the health insurance landscape in the US.

Latest News  from Business News Desk