Accenture Acquires Gevity to Bolster Health Transformation Service Capabilities in Canada

Rhea-AI Summary

Accenture has acquired Gevity, a healthcare consulting firm, to enhance its health transformation services in Canada and globally. The acquisition will leverage Gevity's expertise in health systems integration and digital transformation, expanding Accenture's capabilities in providing innovative technology solutions to healthcare clients. With Gevity's talented team and experience in more than 40 industries, this deal positions Accenture to lead in tech-enabled health innovation, improving healthcare access and outcomes.

Positive

• Acquisition of Gevity enhances Accenture's health transformation services in Canada.
• Gevity's expertise in health systems integration strengthens Accenture's market position.
• Increased capability to deliver innovative technology solutions in the healthcare sector.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has acquired Gevity, a strategy and consulting service provider focused on helping healthcare industry clients transform their businesses through innovative technology solutions, to expand its capabilities to deliver health transformation services in Canada and internationally. The terms of the acquisition were not disclosed.

Gevity is now part of Accenture (Photo: Business Wire)

Headquartered in Victoria, B.C., Gevity was founded in 1995 and has grown into an established health consulting firm with a team of nearly 100 experts and practitioners across Canada who support clients globally. Gevity works with organizations that span the continuum of healthcare, from providers as well as public and private payers to regulators and healthcare non-profit stakeholder organizations.

The firm specializes in providing strategic consultancy services to health sector clients spanning capability areas such as health systems integration, informatics and analytics, and solution implementation and program management. Gevity also leads clients through digital transformations and information systems design implementations. In addition, Gevity offers proprietary methods and tools to support its work, including project and program management, inter-organizational collaboration, and health informatics. A key differentiator for Gevity is its strategic use of interdisciplinary teams comprised of practitioners with experience in clinical, technical and administrative roles in healthcare settings.

“The addition of Gevity will expand our capabilities in delivering health transformation services in Canada and other global markets,” said Jeffrey Russell, president of Accenture in Canada. “Gevity’s talented team and track record of success combined with Accenture's national leadership in transformation services and strong ecosystem partnerships will strengthen our capabilities from coast to coast. Moreover, the acquisition positions Accenture to lead the wave of tech-enabled health innovation that places people's health at the center to improve access, experience, and outcomes.”

Jane Kerr, managing director and Canadian client group lead for resources, provincial and public health at Accenture, said, “The COVID-19 pandemic has accelerated the need for health organizations to modernize their technology systems and restructure their operating models to reduce costs and be more efficient. Gevity’s experienced team of professionals will significantly enhance our ability to harness the power of technology and human ingenuity to lead change for Canadian public and private health organizations as they look to complete large-scale transformations.”

In addition to the Victoria headquarters, Gevity has people located across Canada in Alberta, Ontario, Quebec, New Brunswick and Nova Scotia, as well as in the United States and the Philippines, who will join Accenture.

“Over the last 25 years, Gevity has been focused on delivering on its mission to enable a healthier world by helping clients modernize for the future,” added Marc Koehn, CEO of Gevity. “By joining Accenture’s global Health practice, with its leading capabilities in digital, design, cloud, security and customer experience, we can together have a greater impact on the transformation of Canada’s healthcare industry and open up exciting career opportunities for our team members.”

Gevity is the second acquisition for Accenture Canada in 2021 to bolster its strength and capabilities in the Canadian market. In July, Accenture acquired Cloudworks, a leading Oracle Cloud service provider based in Toronto. In 2020, Accenture acquired Avenai, an Ottawa consultancy focused on public service organizations, and Callisto Integration, an Oakville, Ontario, provider of consulting and technology services in digital manufacturing in food and beverage, chemicals, utilities and other industries.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 569,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

Forward-Looking Statements

Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the COVID-19 pandemic. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been significantly adversely affected and could in the future be materially adversely impacted by the COVID-19 pandemic; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture could face legal, reputational and financial risks if the company fails to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005013/en/

Susan Kirwin

Accenture

+1 416 641 5148

susan.kirwin@accenture.com

Marchell Gillis

Accenture

+1 678 657 7515

+1 404 409 9430 (mobile)

marchell.gillis@accenture.com

Source: Accenture

FAQ

What is the purpose of Accenture's acquisition of Gevity?

The acquisition aims to enhance Accenture's health transformation services in Canada and globally.

What impact will Gevity's acquisition have on Accenture's operations?

It will strengthen Accenture's capabilities in providing innovative technology solutions and health systems integration.

When was Accenture's acquisition of Gevity announced?

The acquisition was announced on September 2, 2021.

What are Gevity's specialties that benefit Accenture?

Gevity specializes in health systems integration, informatics, analytics, and digital transformations.

How does the acquisition align with market trends?

It positions Accenture to lead in tech-enabled health innovation, meeting the increasing demand for modernized healthcare solutions.