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Indian IT firm Persistent Systems drops after report that key client UnitedHealth faces criminal probe

Mike Blake - 5/15/2025

</head><body><p>(Reuters) -Shares of Persistent Systems declined 3% on Thursday, the most among Indian IT services providers, after a media report said that key client UnitedHealth Group was under a criminal probe for possible Medicare fraud.</p><p>The U.S. Department of Justice's healthcare-fraud unit is overseeing the criminal investigation, which focuses on UnitedHealth's Medicare Advantage business practices, the Wall Street Journal had reported. The company said it stood by the integrity of the program.</p><p>UnitedHealth is one of Persistent Systems' top five clients and has an "over $100 million relationship" with the company, said Rahul Jain, an IT analyst at Dolat Capital.</p><p>It was not clear how much of Persistent Systems' revenue is linked to UnitedHealth. The company did not respond to a Reuters email seeking comment.</p><p>The stock was set for its worst day in one month and the biggest drag on the IT index, which was up 0.4%.</p><p/><p> (Reporting by Kashish Tandon and Sai Ishwarbharath B in Bengaluru; Editing by Savio D'Souza)</p></body></html></p> <div id="news-wrapper"> <div class="thumbnail additional-resources client-content-image-box"> <div class="box-image" style="background-image: url(/images/home/news.jpg);"></div> <div class="caption"> <h3>Nationwide News</h3> <div> <p><a href='/veterans/news-article-detail.aspx?id=155542'>Grave of Black veteran of War of 1812 receives headstone</a></p> <p><a href='/veterans/news-article-detail.aspx?id=155541'>World War II veteran, motorcycle champion turns 102</a></p> <p><a href='/veterans/news-archive.aspx'>News Archive</a></p> </div> </div> </div> </div> </div> </div> </div> </section> </div> <!-- FOOTER --> <footer class="footer"> <!-- FOOTER INFO --> <div class="clearfix footerInfo"> <div class="container"> <div class="row"> <div class="col-sm-7 col-xs-12"> <div class="footerText"> <a href="http://www.trilogyir.com/" target="_blank" class="footerLogo"><img src="/images/Noc-Logo-white.png" alt="Footer Logo" style="width: 200px;"></a> <div class="genericContent" id="landingPageText"> <p>Network of Care for Service Members, Veterans & Their Families is an online information portal for individuals, families and social service agencies to serve those who have served our country. </p> </div> <h3 id="lblTechAssistance" style="color: #fff; margin: 25px 0 5px;">For Technical Assistance:</h3> <ul class="list-styled list-contact"> <li><i class="fa fa-envelope" aria-hidden="true"></i><a href="mailto:admin@trilogyir.com?Subject=From Network of Care">admin@trilogyir.com</a></li> </ul> </div> </div> <div class="col-sm-3 col-xs-12"> <div class="useLink"> <ul class="list-unstyled"> <li><a href="/veterans/services/index.aspx">Services</a></li> <li><a href="/veterans/library/index.aspx">Library</a></li> <li id="footerLinks1PlaceHolder_vetFooterLegislate"><a href="/veterans/legislate/index.aspx">Legislate</a></li> <li><a href="/veterans/links/index.aspx">Links</a></li> </ul> </div> </div> <div class="col-sm-2 col-xs-12"> <div class="useLink"> <ul class="list-unstyled"> <li id="ucOtherSites_liVisitOtherSites"> <a href="#" id="btnOtherSites" data-toggle="modal" data-target="#otherSiteModal">Visit Our Other Sites</a> <div class="modal fade" id="otherSiteModal" tabindex="-1" role="dialog" aria-labelledby="otherSiteModalLabel"> <div class="modal-dialog" role="document"> <div class="modal-content"> <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="otherSiteModalLabel">Visit Our Other Sites</h4> </div> <div class="modal-body"> <div id="other-sites-footer" class="row"> <div class="col-sm-6 col-xs-12 text-center" style="height: 120px;"><a href="http://alameda.nocbeta.org/mh/" class=""><img src="/images/home/products/mh.jpg" alt="Behavioral Health " class="img-responsive center-block"/> Behavioral Health </a></div><div class="col-sm-6 col-xs-12 text-center" style="height: 120px;"><a href="http://alameda.nocbeta.org/veterans/" class="currentSite"><img src="/images/home/products/veterans.jpg" alt="For Veterans " class="img-responsive center-block"/> For Veterans </a></div><div class="col-sm-6 col-xs-12 text-center" style="height: 120px;"><a href="http://alameda.nocbeta.org/aging/" class=""><img src="/images/home/products/aging.jpg" alt="Seniors and People with Disabilities " class="img-responsive center-block"/> Seniors and People with Disabilities </a></div> </div> </div> <div class="modal-footer"> <button type="button" class="btn btn-default" data-dismiss="modal">Close</button> </div> </div> </div> </div> </li> <li><a href="/veterans/about/">About Us</a></li> <li><a href="/veterans/feedback.aspx">Feedback</a></li> <li><a href="/veterans/privacy.aspx">Privacy Policy</a></li> <li id="footer-widgets"><a href="/veterans/services/widget.aspx">Add This Service Directory to Your Website</a></li> </ul> </div> </div> </div> </div> </div> <!-- COPY RIGHT --> <div class="clearfix copyRight"> <div class="container"> <div class="row"> <div class="col-xs-12"> <div class="copyRightWrapper"> <div class="row"> <div class="col-sm-5 col-sm-push-7 col-xs-12"> <!-- Go to www.addthis.com/dashboard to customize your tools --> <div class="addthis_inline_share_toolbox_es1d"></div> </div> <div class="col-sm-7 col-sm-pull-5 col-xs-12"> <div class="copyRightText"> <p>Copyright ©<span id="copyrightYear">2025</span> Network of Care - 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