ExlService Holdings’ $240 million Acquisition of SCIOInspire Holdings

TripleTree, LLC served as the exclusive strategic and financial advisor to SCIO in the transaction. Sheppard Mullin acted as legal advisor to ExlService Holdings, Inc.

ExlService Holdings (NASDAQ: EXLS), a leading operations management and analytics company, has signed a definitive agreement to acquire SCIOInspire®Holdings, Inc. (SCIO®), a West Hartford Connecticut-based leading healthcare analytics solution and services company (doing business as SCIO Health Analytics).

For more than 10 years SCIO has been driving care and reimbursement optimization for its clients through its leading healthcare analytics solutions and services. SCIO’s unique 360° view of the patient, provider and claim is informed by deep clinical, payment, analytics and data expertise. Through the use of integrated healthcare data, proprietary analytics, innovative technologies and flexible delivery methodologies, SCIO transforms data into actionable insights and proven outcomes. SCIO’s significant early investors include Sequoia India, Health Enterprise Partners and Saama Capital.

The aggregate merger consideration is $240 million, subject to adjustment based on, among other things, SCIO’s cash, debt, working capital position and other adjustments set forth in the Merger Agreement. EXL intends to fund the purchase with available cash on hand and borrowing from its credit facility. The acquisition is anticipated to close in the next three months, subject to the fulfillment of certain closing conditions, including regulatory and other customary consents.

Exlservice Holdings Inc. provides offshore business process outsourcing solutions, primarily serving the needs of Global 1000 companies in the banking, financial services, and insurance area. The company, led by Rohit Kapoor, Pavan Bagai and Vishal Chhibbar, in 2017 recorded $762 Million Revenues.

The Sheppard Mullin team representing EXL was led by partner Valerie Demont (Picture) in New York and included Ken Contrata, Omar Hashim, Karl Buhler, Carol Archer Boboris, Verity Rees, Lindsay Stone, Keith Gercken, John Crisp, Malika Levarlet, Dan Yannuzzi, Kristi Kung, Steven Chananie and Sophie Solomon.

Involved fees earner: Valérie Demont – Sheppard Mullin; Carol Archer Boboris – Sheppard Mullin; Steven Chananie – Sheppard Mullin; Kenneth Contrata – Sheppard Mullin; Omar Hashim – Sheppard Mullin; Malika Levarlet – Sheppard Mullin; Lindsay Colvin Stone – Sheppard Mullin; Verity Rees – Sheppard Mullin; John Crisp – Sheppard Mullin; Keith R. Gercken – Sheppard Mullin;

Law Firms: Sheppard Mullin;

Clients: Exlservice Holdings Inc.;


Author: Ambrogio Visconti