Clearing Regulatory Hurdles for a Healthcare M&A Transaction
On behalf of Intrado Corporation, we led a multi-disciplinary team to secure approval from the California Department of Managed Health Care (DMHC) so it could complete its $690 million sale of Health Advocate to Teleperformance. This involved an extensive process under the Knox Keene Act of satisfying the DMHC’s criteria for approving the change-of-control of the specialized health plan (psychological services).
Intrado Corporation is a global leader in technology-enabled services. Its subsidiary, Health Advocate, offers a full range of clinical and administrative services as well as behavioral health and wellness programs supported by medical claims data science and a technology platform that uses machine learning to drive people to engage in their health and well-being. Nossaman has long represented its employee assistance program (EAP) company, Health Advocate West, with the DMHC.
An international company, Teleperformance is a digital integrated business services provider that specializes in customer experience management. By purchasing Health Advocate, Teleperformance can significantly strengthen its specialized services business portfolio.