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Share Name | Share Symbol | Market | Type |
---|---|---|---|
HMS Holdings Corp | NASDAQ:HMSY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 36.975 | 34.87 | 37.00 | 0 | 01:00:00 |
Pursuant to terms of the PCG settlement agreement, PCG has agreed for a period of seven years until April 2023 not to develop, plan, market, provide, offer, advise with respect to, assist with, sell, or otherwise perform, directly or indirectly, any third party liability services (“TPL Services”) including but not limited to coordination of benefits, credit balance audits and dependent eligibility audits. PCG has also agreed to withdraw any pending TPL bids, bid protests and/or contract negotiations, including with the State of New Jersey. In addition, the settlements will result in the dismissal of all pending cases or appeals between the parties and includes full, mutual releases of PCG, HMS, and their affiliates from any and all pending and future claims related to the Trade Secret Litigation.
“We are very pleased to put these matters behind us and to return our full time and attention to serving our customers, as we partner with them to help bend the healthcare cost curve. Our goal from the outset of the litigation was to defend our intellectual property and to protect our trade secrets. Those objectives have been accomplished,” said Bill Lucia, HMS Chairman and CEO.
About HMS
HMS Holdings Corp., through its subsidiaries, provides coordination of benefits and payment integrity services for payers. The Company serves state Medicaid programs; health plans, including Medicaid managed care, Medicare Advantage and group and individual health lines of business; federal government health agencies, including the Centers for Medicare & Medicaid Services and the Veterans Health Administration; government and private employers; and other healthcare payers and sponsors, including child support agencies. As a result of the Company’s services, our customers recover billions of dollars annually and save billions more through the prevention of improper payments.
Investor Contact: Dennis Oakes SVP, Investor Relations dennis.oakes@hms.com 212-857-5786 Media Contact: Francesca Marraro VP, Marketing and Communications fmarraro@hms.com 212-857-5442
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