Irving-based HMS Holdings Corp. is exploring options including a sale, as the health-care data and technology provider grapples with the impact of the coronavirus, according to people familiar with the matter.
The company is working with advisers to review alternative strategies, the people said, asking not to be identified because the matter isn’t public. No final decision has been made and it could still opt to remain independent, the people said.
HMS Holdings’ shares closed 2% higher on Friday, closing at $24.37, giving the company a market value of about $2.2 billion. The stock is down 28% in the past year compared with the 16% gain in the S&P 500 index.
Representatives for HMS Holdings didn’t respond to requests for comment.
HMS, founded in 1974, provides data and analytics services that help federal agencies, health-care exchanges, hospital groups and other clients reduce costs, according to its annual report.