Universal American Corp. has signed an agreement to install a policy administration program supplied by Patni Computer Systems Ltd., and in turn, Patni will acquire the health insurance company’s subsidiary, CHCS Services Inc. The agreement is designed to expand Patni’s business into the insurance and health care sector, and make the company a third-party administrator (TPA).
“This represents the largest win in the company’s history, and this strategic acquisition of CHCS Services Inc. is a strong validation of Patni’s differentiated, micro-vertical strategy,” said Jeya Kumar, CEO, Patni. “This move takes on dual significance for Patni in terms of growing our global Life and Healthcare Insurance business, as well as establishing us as a TPA.”
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