Subject: Divestiture
NTT DATA Services to Acquire State Healthcare Consulting Practice from Cognosante
NTT DATA Services, a recognized leader in global technology services, today announced it has acquired Cognosante Consulting, LLC, the consulting division of Cognosante, a leader in health information technology solutions and services for federal and state health agencies.
Cognosante Consulting provides IT strategy, planning, quality assurance and project management for state HHS agencies undergoing large-scale Medicaid and related human services IT and business transformation programs. The company has nearly three decades of experience working with 48 states and the federal government, developing, managing, and executing large, complex health information technology implementations.
As a result of the acquisition, NTT DATA Services will add more than 250 specialized consulting resources, as well as intellectual property currently supporting IT transformations, including those specific to Medicaid in more than 20 states.
"The acquisition of Cognosante's consulting practice immediately establishes us as a leader in a growing health and human services market and enhances the value we can deliver to our clients in the public sector and healthcare," said Bob Pryor, CEO, NTT DATA Services. "This acquisition is the latest in our ongoing strategy of growth by strategic acquisitions that augment our specialized industry expertise and geographical presence."
"Cognosante Consulting has built an unmatched reputation supporting IT projects for state HHS departments and other state agencies. Combining our team with the resources and expertise of NTT DATA will enhance our ability to serve clients as they continue to modernize their IT systems to support business transformation," said Jim Joyce, General Manager of Cognosante's consulting practice, who will continue to lead the organization and serve as Senior Vice President with NTT DATA Services. "As states revamp their legacy systems and business models, there is significant opportunity for NTT DATA. We are excited to be part of their long-term strategy to support successful state IT implementations."
As part of NTT DATA Services, the consulting practice will be focused on client IT strategy, project management, quality assurance and Independent Verification and Validation services.
"Cognosante Consulting has been one of the building blocks of Cognosante," said Michele Kang, Founder and CEO of Cognosante. "We are extremely proud of what we have accomplished for our clients, while also increasing both top line revenue and the number of employees by about 500% since 2010. This growth of scope and reach, however, began to create conflicts with Cognosante's core business, requiring us to look for divestiture opportunities. We could not have found a more perfect home than NTT DATA Services to align with Cognosante Consulting's overall mission and company culture. Both Cognosante Consulting clients and employees will benefit tremendously from this combination. We are confident NTT DATA Services will take Cognosante Consulting to the next level while Cognosante continues to focus on its core mission of transforming the nation's healthcare through innovative technology and solutions."
About Cognosante
Cognosante provides technology solutions and business process outsourcing services to Federal, state, and local government health agencies. The company has nearly three decades of experience working with 48 states and the Federal government, developing, managing, and executing large, complex health information programs. Its expertise includes Medicaid; Medicare; military and Veterans' health; the health insurance marketplace; data standards and analytics; modular system development and integration; and fraud, waste, and abuse detection and prevention. Visit Cognosante.com for more information.
About NTT DATA Services
NTT DATA Services partners with clients to navigate and simplify the modern complexities of business and technology, delivering the insights, solutions and outcomes that matter most. We deliver tangible business results by combining deep industry expertise with applied innovations in digital, cloud and automation across a comprehensive portfolio of consulting, application, infrastructure and business process services.
NTT DATA Services, headquartered in Plano, Texas, is a division of NTT DATA Corporation, a top 10 global business and IT services provider with 120,000+ professionals in more than 50 countries, and NTT Group, a partner to 88 percent of the Fortune Global 100. Visit nttdataservices.com to learn more.
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