ChrysCapital acquires US health-tech player

Founded in 2005 by Indian entrepreneur Vijay Singh, GeBBS specializes in revenue cycle management (RCM) solutions aimed at helping healthcare providers improve financial performance, compliance, and patient satisfaction. The company has more than 6,000 employees worldwide and codes over five million charts per month.

Financial details of the transaction have not been disclosed, though The Economic Times reported that ChrysCapital paid about INR10 billion ($141 million) for an 80% stake held by Singh. Following the acquisition, the company will continue to be run by Nitin Thakor and Milind Godbole – respectively CEO and managing director – and the existing leadership team.

“We chose to partner with ChrysCapital because they bring with them a strong track record of building best-in-class businesses,” said Thakor in a statement. “Their deep domain expertise and strong network of relationships will complement our capabilities and drive additional value to our customers.”

ChrysCapital has more than $3 billion in assets under management and is currently investing its seventh fund, which closed last year at $600 million. The vehicle seeks both minority growth and control deals in the business services, financial services, healthcare, consumer, and manufacturing sectors. 

Previous US deals by the firm include customer engagement firm LiquidHub. ChrysCapital led the company’s $53 million Series B round in 2013 and played a major role in developing its India operations. The GP exited earlier this year when IT services company Capgemini acquired LiquidHub for around EUR400 million ($496 million).

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• Topics
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