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Avectus Acquired by New Jersey Company

Avectus on Tate Street in Corinth has been acquired by Cognizant, a New Jersey-based company with locations around the world. (Photo by Josh Mitchell/Corinth Today)

By Josh Mitchell

Corinth Today News Editor

Avectus Healthcare Solutions, which employs about 285 in Corinth, has been acquired by a world-renowned New Jersey-based company that helps businesses succeed in the digital economy.

Louisville, Ky.-based Bolder Healthcare Solutions, which previously owned Avectus on Tate Street in Corinth, was recently acquired by Cognizant. Bolder is a revenue cycle management firm for healthcare providers.

A Cognizant spokeswoman told Corinth Today on Tuesday that Avectus operations would be “business as usual” after the Cognizant acquisition, which was finalized in April.

Revenue cycle management helps “ensure benefit eligibility and accurate billing and collections, greatly reducing the time between delivery of service to payment received,” according to Cognizant.

Avectus is located in a Corinth building that underwent an extensive renovation about two years ago. Gov. Phil Bryant visited Corinth a year ago to applaud Avectus’ expansion in Corinth and the many jobs the company provides in Alcorn County.

Cognizant has locations around the globe and its world headquarters are in Teaneck, N.J. The company helps clients “run more innovative and efficient businesses” for the “digital era,” Cognizant’s website says.

Cognizant had revenue of $14.8 billion in 2017, up about 10 percent from the prior year, according to its annual report.

“The addition of Bolder Healthcare Solutions to the Cognizant portfolio enables us to offer more services to a broader range of healthcare providers and equip them with a digital foundation for outcome-based models and greater efficiency,” said Cognizant’s Kaushik Bhaumik. “Bolder Healthcare Solutions’ impressive capabilities, processes and experts provide the specialized RCM approach care providers need to enhance their financial performance, ensure regulatory compliance and increase focus on quality of patient care.”

Cognizant’s website said it is ranked No. 195 on the Fortune 500 and that it has been named one of the world’s most-admired companies nine years in a row by Fortune magazine.

It will be “business as usual” at Avectus in Corinth following the acquisition by Cognizant, a spokeswoman said.

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