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Rediff.com  » Business » Infocrossing wins $407 mn contract

Infocrossing wins $407 mn contract

December 06, 2007 10:09 IST
Infocrossing Healthcare Services, an indirect wholly-owned subsidiary of Wipro which provides medicaid and medicare services to insurers, has bagged a multiple-year contract to provide fiscal agent services to Missouri's MO HealthNet programme.

The contract, to be executed over a period of nine years, is expected to fetch the company $407 million (around Rs 1,600 crore).

Wipro acquired the US-based IT infrastructure and BPO services provider Infocrossing for approximately $600 million in an all cash-deal in August this year.

The contract also calls for Infocrossing to update Missouri's legacy-based Medicaid Management Information System, and ensure that it is equipped to administer the new MO HealthNet programme, which is responsible for purchasing and monitoring health care services for the state's low income and vulnerable citizens.

The agreement provides for a one-year development period followed by up to nine years of operational support (six years plus three optional years).

Infocrossing will deliver the MO HealthNet programme with services such as system development, system re-engineering and processing operations, through its offices in Missouri, Florida and New Jersey.

BS Reporter in Bangalore
Source: