Hinduja Global Solutions is currently trading at Rs. 555.00, up by 11.25 points or 2.07% from its previous closing of Rs. 543.75 on the BSE.
The scrip opened at Rs. 550.00 and has touched a high and low of Rs. 561.05 and Rs. 550.00 respectively. So far 1468 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 736.55 on 07-Jul-2014 and a 52 week low of Rs. 475.00 on 30-May-2014.
Last one week high and low of the scrip stood at Rs. 561.05 and Rs. 500.40 respectively. The current market cap of the company is Rs. 1160.30 crore.
The promoters holding in the company stood at 67.83% while Institutions and Non-Institutions held 16.97% and 15.20% respectively.
Hinduja Global Solutions (HGS) has acquired majority of stake in Colibrium Partners LLC and Colibrium Direct LLC (Colibrium). The acquisition has been made by HGS Colibrium Inc, a US subsidiary of HGS, which would own 89.9% of Colibrium and the balance will be held by the founders. For the year ended December 31, 2014, Colibrium reported revenues of $12.6 million.
This acquisition of a health insurer technology and services company in the US market complements and increases the already strong healthcare payer servicing capability of HGS. The cloud-based platform for online self-service combined with a pool of licensed health insurance agents are the key drivers behind this acquisition. Colibrium brings in expertise in sales and marketing of health insurance exchanges, the employer group market and brokers. These capabilities address a known need in the rapidly growing market for turnkey health insurance purchasing and enrollment solutions. Additionally, HGS and Colibrium’s healthcare insurance clients will benefit from the combined capabilities of the two businesses.
HGS already serves Fortune 100 health insurance clients, providing a broad array of services in both the administrative and clinical functions. The addition of Colibrium Partners and Colibrium Direct brings complementary platform and servicing capabilities in the sales and enrollment area for the US and global health insurers.
Colibrium is an innovation leader in delivering sales, service and wellness automation to health plans. The Colibrium developed, cloud-based platform provides an easy-to-implement health insurance portal that integrates with enterprise CRM platforms such as Microsoft Dynamics, and facilitates end-to-end workflow automation capability. Health insurance plans using the system are 30-40% more efficient in acquiring new members and providing services over the course of the customer lifecycle.
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