WASHINGTON—Covington is assisting Veritas Capital-backed Gainwell Technologies in its acquisition of HMS for approximately $3.4 billion. The transaction is expected to close in the first half of 2021.
Veritas will look to optimize the HMS solution set across Gainwell and Veritas-backed Cotiviti, Inc. Gainwell will acquire the HMS capabilities focused on the Medicaid market, including solutions delivered to states and managed care organizations, and Cotiviti will acquire the HMS capabilities focused on the commercial, Medicare, and federal markets. The addition of the HMS business lines will expand Gainwell’s and Cotiviti’s capabilities with unique, data-driven technology and service solutions expected to drive greater impact in the healthcare market.
HMS is an industry-leading technology, analytics, and engagement solutions provider helping organizations reduce costs and improve health outcomes. Gainwell is a leading provider of solutions vital to the administration and operations of health and human services programs. Cotiviti is a leading provider of data-driven healthcare solutions.
Covington is assisting Veritas Capital and Gainwell on government contracts, data privacy, cybersecurity, and political law aspects of the deal. The Covington team is led by partner Scott Freling, along with Carl Wiersum and Alex Hastings. The team also includes Brooke Stanley (government contracts); Libbie Canter, Anna Kraus, Hannah Lepow, and Tara Carrier (data privacy and cybersecurity); and Matt Shapanka and Elizabeth Upton (political law).
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