ACS Acquires Bowers & Associates to Strengthen Health Information Capabilities |
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Affiliated Computer Services, Inc.
2828 N. Haskell Ave.
Dallas, TX, 75204
USA
Press release date: February 21, 2008
DALLAS, Feb. 22 - Affiliated Computer Services, Inc. (NYSE:ACS) today announced that it has acquired Bowers & Associates, Inc., a Wisconsin-based provider of quality care and productivity management services and healthcare data analytics, for $8 million, plus contingent payments based on future financial performance.
The acquisition strengthens ACS' Informed Health offerings by adding Bowers' expertise in healthcare management and state-of-the-art informatics. These capabilities provide health management services that improve the health and productivity of patients. ACS' Informed Health solutions provide physicians, pharmacists, payers, and patients with access to clinical and claims information from a wide variety of previously unconnected sources, to enable them to make smarter decisions about healthcare treatment.
"ACS is already a leading provider in the emerging health information exchange market. Bowers will broaden the capabilities of our government healthcare business to include the delivery of best-in-class, accredited care management services for high-risk beneficiaries," said Christopher T. Deelsnyder, ACS senior vice president and managing director, Government Healthcare Solutions. "ACS clients will benefit from our enhanced ability to help them provide the highest quality of care."
Bowers' suite of modeling, profiling, reporting and health risk prediction tools is considered among the most innovative in the industry. Bowers is one of only a handful of companies that holds Utilization Review Accreditation Commission (URAC) accreditations for utilization management, case management, disease management, and worker's compensation case management. URAC is an independent, nonprofit organization that is considered a leader in promoting health care quality through its accreditation and certification programs.
"Leveraging ACS' platform will allow us to pursue large-scale implementations and provide deeper value to our customers," said Tim Bowers, chief executive officer of Bowers & Associates. "The combination of these two skills brings to the healthcare market a unique, flexible offering that can be tailored to meet the client's specific health management needs."
Bowers' trailing twelve months revenue was approximately $6 million, and the acquisition will be funded with cash on hand. Bowers currently provides care management services and analytic tools to government and commercial organizations whose employees are covered beneficiaries of health insurance plans. Bowers manages care for approximately 225,000 plan members. All of Bowers' employees will transition to ACS.
ACS is a national leader in state healthcare program administration, offering a full spectrum of systems and complementary services through an integrated solution, from care management solutions and child health programs to pharmacy benefits management and traditional Medicaid fiscal agent services. ACS supports more than 23 million program recipients and processes nearly 550 million Medicaid healthcare claims annually, representing close to $50 billion in provider payments. As the nation's largest government program pharmacy benefits administrator, ACS serves 28 states, the District of Columbia, and the Department of Labor with drug expenditures totaling more than $13 billion.
ACS, a global FORTUNE 500 company with 62,000 people supporting client operations reaching more than 100 countries, provides business process outsourcing and information technology solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." Learn more about ACS at http://www.acs-inc.com/.
FCMN Contact: Jon.Puckett@acs-inc.com
Source: Affiliated Computer Services, Inc.
CONTACT: investors, Jon Puckett, Vice President, Investor Relations, +1-214-841-8281, jon.puckett@acs-inc.com,
or media, Andy Wilson, Director, Corporate Communications, +1-214-841-8004, andy.wilson@acs-inc.com, both of Affiliated Computer Services, Inc.
Web site: http://www.acs-inc.com/
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