Mergers & Acquisitions

Mergers & Acquisitions

January 06, 2012

OpenSpan Signs Definitive Agreement to Acquire Triangle BPA

OpenSpan (News - Alert), Inc., a provider of business process analytics, optimization and automation solutions, has announced the acquisition of Triangle BPA, LLC, headquartered in the Research Triangle region of Raleigh-Durham, N.C.

With this acquisition, OpenSpan has secured rights to intellectual property for Triangle BPA’s health insurance payer claim automation tools and techniques.

Officials said that OpenSpan will also be able to add Triangle’s key senior staff with extensive industry expertise to its executive team.

According to Triangle BPA Co-Founder Rod Dunlap, it became clear that combining the capabilities of the two companies created a comprehensive approach to the business process optimization and automation needs of the insurance industry.

“Working with OpenSpan, we quickly saw the power and value of a unified offering,” said Dunlap.

“Together, we are well-positioned to have a dramatic impact on health payers’ efforts to reduce administrative costs, comply with changing regulations, accelerate service, and reduce waste and errors with a compelling, fully automated claim repair solution,” Dunlap added.  

Being rebranded and re-launched as the OpenSpan Automation Engine, Triangle BPA’s Claim Control Engine of Triangle BPA, is a business process automation engine for accelerated health insurance claim auto-adjudication.

The engine manages specialized, reusable components containing business rules and repair actions in a service-oriented architecture. For fast time-to-deployment, components can be iteratively enhanced and reused across multiple repair scenarios. This offers insurance payers tremendous flexibility to react to changes such as claims inventory fluctuations, new regulations, and member or provider service needs.

It also executes claim repairs via a foundational set of business process definitions and integration services called Reinacts, a Triangle BPA solution that is retaining its brand under the OpenSpan auspices.

OpenSpan has served customers in the insurance industry for years. Increasingly, organizations across many industries are turning to the back office as the next frontier for accelerating enterprise efficiency and performance. The acquisition of Triangle BPA is the first initiative of a strategic expansion into additional back-office environments, where more than a third of current customer implementations are found today, according to OpenSpan CEO Eric Musser.

In related news, according to a recent announcement made by OpenSpan, its user process improvement software, OpenSpan 5.1, is now available in the market.

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Deepika Mala is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Carrie Schmelkin

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