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Indian Company To Scoop Up CHCS

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Universal American Corp. (NYSE:UAM) has agreed to sell a unit that administers long term care insurance plans and other elder care plans.

Patni Americas Inc., Cambridge, Mass., a unit of Computer Systemds Ltd., Mumbai, India (NYSE:PTI), plans to acquire the unit, CHCS Services Inc., Pensacola, Fla., according to Universal American, Rye Brook, N.Y.

Patni has agreed to have CHCS continue to provide administrative services for Universal American’s own traditional insurance business for at least 5 years and to have the current CHCS employees continue to provide the services, Universal American says.


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