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HMS Holdings acquires Intrado's payment accuracy business for $155M

HMS Holdings Corp. has acquired Intrado Corp.'s payment accuracy and cost containment business, called Accent, for about $155 million.

The purchase price is subject to working capital and other customary adjustments, and was funded with cash on hand.

Accent's offerings include comprehensive prospective and retrospective claims accuracy solutions, which incorporate both cost avoidance and overpayment recovery services.

HMS said Accent's clientele is complementary to the company's market expansion plans.

Intrado, which is a cloud-based, global technology partner to clients around the world, said that the divesting of the business will allow it to focus on core cloud-based technology and next-generation solutions.