EPAM Systems, Inc. (EPAM - Free Report) , a global provider of customized software engineering and technology services, recently signed a definitive agreement to acquire NetSoft USA, Inc., a strategic technology and design firm specializing in healthcare and insurance, for an undisclosed amount.
Based in New York City, NetSoft USA empowers healthcare organizations with customized, value-added software solutions.
Leading health plans in the U.S. seek NetSoft USA’s collaboration on their medical management and claims systems. The company’s forte lies in working with leaders in revolutionary fields such as Health Information Exchanges (HIE), accountable care organizations (ACO), healthcare analytics, tele-medicine, personalized medicine and online self-service capabilities.
With healthcare dynamics undergoing a massive transformation, the industry seems to be on the brink of a strategic shift in operations. NetSoft USA’s technological and strategic expertise in the field of healthcare insurance will add deep value to EPAM’s ability to deliver complicated, mission-critical solutions in healthcare.
The acquisition is in tune with EPAM’s strategy of synchronizing its operations with developments in healthcare. The combination of EPAM’s scale and rich knowledge in customer-centric industries with NetSoft USA’s valuable software skills is likely to generate synergistic benefits. The acquisition is expected to create distinctive opportunities for EPAM’s clientele and facilitate complex business and software solutions.
EPAM primarily serves banking, business information, financial services, media and hospitality industries. Over time, EPAM’s strategy of rapid expansion within its verticals by capitalizing on strong software engineering expertise has paid off. By focusing on competencies in business as well as technological domains, EPAM has established itself as a leader in crafting complex information technology solutions. This acquisition will further enable the company to fortify its position in the healthcare insurance space.
EPAM currently holds a Zacks Rank #3 (Hold). Other notable stocks in the sector that hold a higher Zacks Rank #1 (Strong Buy) include CommScope Holding Company, Inc. (COMM - Free Report) , CTS Corporation and Datalink Corporation .