Hyderabad-based Apollo Health Street (AHS), a Apollo Hospitals Group (AHG) subsidiary, made its second US acquisition by acquiring Atlanta-based business process outsourcing (BPO) and enterprise solutions company Zavata Inc for Rs 697 crore.
“The Zavata acquisition will enable us to enhance offerings to our customer base and aid in increasing client base. With this acquisition, we will be able to position ourselves as one of the biggest global healthcare outsourcing companies,” Prathap C Reddy, chairman, AHG said.
The acquisition, the fourth for AHS, will be funded by raising a debt of $135 million from Bank of India and Barclays Capital. AHG, which held 47% in AHS pre-merger, has invested around $25 million to retain the same holding in the merged entity.
Sangita Reddy said the addressable US outsourcing market which could be effectively utilised is around $30 billion and $48 billion in the payer and provider segments respectively.
(Source: Business Standard
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