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Cognizant warns of slow growth in U.S. healthcare business

07
May
2014

Technology outsourcing company Cognizant Technology Solutions Corp said growth in its North America healthcare business would remain slow this quarter due to lower spending by customers as they adjust to changes brought on by Obamacare. Cognizant’s shares fell as much as 7 percent, after the company also forecast current-quarter revenue below analysts’ estimates. The company provides services such as claims processing, billing and maintaining regulatory compliance to healthcare customers, including insurers and hospitals. Revenue growth in North America, Cognizant’s largest market, slowed to 16.1 percent, in the first quarter ended March 31 from 16.3 percent, a year earlier.

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