Experian has signed a deal to buy another US company, Passport Health Communications, for $850m (£528m). The announcement comes a month after the information services group acquired US-based fraud protection provider 41st Parameter. (Release)
Passport Health Communications, a data and software provider, services over 2,500 hospitals and 9,000 other healthcare providers. The deal will see Experian move further into the US healthcare market - worth $3 trillion - expanding the company's hospital client base from 500 to about 3,000 (45 per cent of US hospitals), and healthcare providers from 350 to over 9,000.
Don Robert, chief executive officer, commented that the purchase will see the company offer its clients "a competitive one-stop-shop to manage risk and to satisfy their payments requirements." Experian is expanding its portfolio from 14 to 28 products, creating comprehensive coverage of the entire healthcare payment process.
Robert added, "we are now taking the next step and the acquisition of Passport Health will make us a clear leader in this high growth and attractive market." The deal is still subject to regulatory approval.