ChrysCapital, the largest Indian private equity investor, has acquired 80% stake in Los Angeles-headquartered GeBBS Healthcare Solutions for about Rs 1000 crore. GeBBS Healthcare is a provider of Revenue Cycle Management (RCM) for the North American healthcare industry.
Earlier, ChrysCapital, managing assets worth more than $3.3 billion, had bought big ownerships in LiquidHub and Infogain, both operating in the Indo-US corridor.
Sanjay Kukreja, Partner, ChrysCapital, said, "The deal involved secondary share purchases. We are committed to infusing further capital to help GeBBS grow inorganically."
Nitin Thakor, President and CEO of GeBBS, stated, "Kukreja and ChrysCapital expect outsourcing to pick up significantly in the healthcare RCM, most of which is managed internally at present. Business complexities driven by regulations and increasing industry consolidation was bound to boost outsourcing."
"We decided to partner with ChrysCapital for our next phase of growth because of their deep IT & BPO expertise and a strong network of relationships, which will complement our capabilities and deliver value to our customers," Thakor added.
