SHPS
 | This article may be confusing or unclear to readers. (October 2015) |
 | |
| Company type | Private |
|---|---|
| Industry | Health care |
| Founded | 1997 |
| Headquarters | Louisville, Kentucky |
Key people | |
| Products | Employee health and wellness programs |
Number of employees | 1,000 |
| Website | www |
Carewise Health, formerly SHPS, Inc. (pronounced "ships") is a national provider of health improvement programs. The company is headquartered in Louisville, Kentucky. Primary data center operations are in Minneapolis. Carewise Health has satellite offices in Minneapolis, Philadelphia, Scottsdale, Arizona, Seattle, and Walnut Creek, California.
History
[edit]The company was founded as SHPS in 1997 as a joint venture between SYKES Enterprises and Health Plan Services, and financed by Prudential Financial Services.[1]
In December 1997, Prudential Financial Services and SYKES Enterprises, Incorporated formed SYKES Health Plan Services (SHPS), Inc.
In 2000, SHPS was purchased by Welsh, Carson, Anderson & Stowe, a private equity firm which focuses on information and business services, healthcare and communications.[2]
In 2001, SHPS acquired CareWise, Inc., a provider of care management services to complement existing healthcare services offerings.[3]
In 2003, SHPS acquired eBenX, Inc., a human resource and benefits administrator.[4]
In 2004, SHPS acquired National Health Services, Inc. and Landacorp, Inc., two care management providers.[5] In 2006, SHPS introduced its enhanced health management delivery model. In 2007, SHPS introduced a health risk engine to help employers strategically manage the clinical risk in their employee population. Also, in 2007, SHPS' Landacorp division released its CareRadius product suite, intended to simplify complex medical management processes and enable health plans to simplify work flow, improve health outcomes, and lower costs.
In April 2012, SHPS sold its Human Resource Solutions subsidiary, which administers Flexible spending accounts, to Automatic Data Processing. It retains ownership of the Carewise Health component.[6][7]
In October 2012, the company sold LandaCorp for $38 million.[8][9]
In December 2013, a new ownership group acquired Carewise.[10]
See also
[edit]- Health consumerism
- Outsourcing
- Healthcare
- Health economics
- Management consulting
- Third party administrator
References
[edit]- ^ "SHPS - Company Overview - Hoover's". Hoovers.com. Retrieved 2013-11-05.
- ^ [1] SHPS website
- ^ "SHPS Inc. acquires Seattle-based CareWise Inc. - Louisville - Business First". American City Business Journals. May 25, 2001.
- ^ Published: November 05, 2002 (November 5, 2002). "Company News; Shps, A Health Care Company, Plans To Acquire Ebenx". The New York Times.
{{cite news}}: CS1 maint: numeric names: authors list (link) - ^ "SHPS Holdings, Inc. Completes Acquisition of Landacorp, Inc. - Free Online Library". Thefreelibrary.com. 2004-04-27. Retrieved 2013-11-05.
- ^ "ADP Completes Acquisition of the Human Resource Solutions Subsidiary of SHPS, Inc" (Press release). PR Newswire. April 3, 2012.
- ^ "SHPS, Inc. Completes Sale of Its Human Resource Solutions Subsidiary to ADP" (Press release). PR Newswire. April 3, 2012.
- ^ "Exl Acquires Landacorp To Provide A Comprehensive Suite Of Operations, Analytics And Technology Solutions For The Healthcare Industry" (Press release). GlobeNewswire. October 15, 2012.
- ^ "EXL buys US-based Landacorp for $ 38 million". The Economic Times. October 16, 2012.
- ^ "SHPS / Carewise Health Acquisition". Carewise. December 23, 2013.