Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of health-care financial operations optimizer HMS Holdings (Nasdaq: HMSY) bounced back from a recent 15% drop like a sprightly Lazarus. Share prices soared as much as 18.6% on tremendous trading volume.

So what: HMS just announced acquisition of privately held HealthDataInsights. Investors clearly love the deal, as the jump added about $300 million to HMS' market cap today -- nearly equal to the $400 million HMS is spending on the deal.

Now what: Not afraid to strut their stuff, management said that HDI is "one of the few strategic opportunities we have seen with revenue growth rates and profitability comparable to our own." Given that the company is large enough to absorb direct rivals CorVel (Nasdaq: CRVL) or PRGX Global (Nasdaq: PRGX) quite comfortably, that sounds pretty darn condescending. If HMS can walk the talk, the stock looks like a solid play on an ailing American health-care system that could use every bit of efficiency it can get its hands on.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.