Langham Capital advises Avantha Group on acquisition of Pyramid Healthcare Solutions
18th May 2010
Avantha Group, a diversified $4 billion Indian business conglomerate, has acquired 100% stake in a US based healthcare outsourcing company, Pyramid Healthcare Solutions. The enterprise value of PHS is approximately $20 million of which $14.5 million has been paid upfront and the balance will be paid over two years.
This acquisition will help Avantha offer an increased service portfolio to its clients. Pyramid’s expertise will equip the company with complete best-practice suite of revenue cycle solutions, including coding services, HIM services, cancer registry, revenue cycle, revenue discovery, charge capture, accounts receivable management, patient financial services, human resources, managed care services, and education and training. It will enable the group to integrate a strong and stable local management team thereby providing a vital platform to achieve scale and size and offshoring potential.
Mr. Gautam Thapar, Chairman & CEO, Avantha Group said, “Avantha Group has an established presence in technology and outsourcing space in the US. This strategic acquisition will strengthen our global presence in the niche healthcare solutions sector.”
Mr. Manoj Malhotra, Director, Avantha Business Solutions said, “This acquisition is a strategic fit to boost our growth plans. It will create value for us in the field of Business Process Transformation and consultative solutions through the use of efficient technologies. Access to best practices of Pyramid Healthcare Solutions will help us better engage with our enhanced customer base to effectively manage our business relationships.”
Langham Capital acted as exclusive financial advisor to Avantha Group.
