HONG KONG, Sept 9 (Reuters) - Swedish investment firm
EQT has agreed to acquire a controlling stake in
global healthcare outsourcing firm GeBBS Healthcare Solutions
for more than $850 million, two people with knowledge of the
deal said.
EQT announced on Monday the acquisition from Indian private
equity firm ChrysCapital, without disclosing financial details.
The firm made the investment via the BPEA Private Equity
Fund VIII, its Asia private equity fund, which will support
GeBBS' next phase of growth and innovation, EQT said in a press
release.
EQT declined to comment on the transaction value. Ashutosh
Gupta, chief marketing officer of GeBBS, said in an email that a
sale agreement had been inked and the deal would close in the
next 45 to 60 days after "legal formalities" were completed. He
declined to confirm the value of the deal.
ChrysCapital did not respond to a Reuters request for
comment.
Founded in 2005, U.S.-based GeBBS specialises in revenue
cycle management, health information management, and medical
billing services, the release said.
GeBBS has over 13,000 employees worldwide with offices in
the U.S., India, Dominican Republic and the Philippines, EQT
said in the release.
The transaction is expected to close in the fourth quarter,
it added.