Xerox spins off $6.7 billion analytics and business process specialist Conduent
Xerox on Jan. 3 announced that its business process services unit is has now become an independent and publicly-traded entity known as Conduent.
"As a standalone company, Conduent will bring a more refined focus, knowledge, depth and understanding to be an essential partner to healthcare organizations," said Rohan Kulkarni, vice president of strategy and portfolio at Conduent Health.
Conduent, which estimated it will bring in $6.7 billion in annual revenue, will also offer the same technologies and services that Xerox offered, including the Midas+ healthcare analytics and workflow package, Care Integration Services, Health Outcomes Services, and the array of Virtual Health Solutions, including telehealth offerings.
"Beyond these provider-focused offerings, we’ll continue to work with payers, governments and pharmaceutical companies," Kulkarni added.
Those offerings include claims processing, managing state governments payments to providers, and pharmaceutical product lifecycle management.
"Conduent will continue to work closely with clients across the entire healthcare ecosystem to help them improve the patient experience and health outcomes at a lower cost," Kulkarni said.
Conduent said its 93,000 employees serve 76 Fortune 100 businesses, 500 government entities and support the top 20 managed U.S. health insurers as well as 9 of the 10 leading pharmaceutical and life sciences companies.