HQ Team
September 9, 2024: EQT Private Capital Asia will acquire a controlling stake in GeBBS Healthcare Solutions, a provider of healthcare outsourcing solutions from ChrysCapital, according to a statement from EQT.
The amount of the deal was not disclosed and the transaction is expected to close in the fourth quarter of this year.
EQT is an investment organization with 246 billion euros in total assets under management within two business segments – private capital and real assets.
It owns portfolio companies and assets in Europe, Asia-Pacific and the Americas.
‘Key investment theme’
GeBBS offers a range of services that help US-based healthcare providers improve their financial performance by optimizing revenue cycle management processes and ensuring accurate coding and billing practices.
The Los Angeles, California-based company was founded in 2005 and has a global footprint of 13,000 employees spread across the US, India, Dominican Republic and Philippines.
It has relationships with a diverse range of customers across US-based hospitals, physician groups, and other healthcare firms. GeBBS Healthcare in April acquired CCD Health, a Dominican Republic-based provider of patient experience services.
“Healthcare technology is a key investment theme for EQT,” Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team and Head of EQT Private Capital India, said.
“GeBBS has developed a robust business with a clear focus on supporting healthcare providers through industry-leading solutions. We see a strong alignment between GeBBS’ growth ambitions and EQT’s experience in creating long-term value.”
Fragmented market
The fragmented global RCM services market continues to witness double-digit growth, driven by long-term trends such as growing patient volumes, increasing complexity within US healthcare operations, and limited availability of skilled resources for critical functions, according to EQT.
Dr Milind Godbole, CEO and Managing Director of GeBBS said the company had built a strong foundation under ChrysCapital’s ownership.
“We believe we are well positioned to take GeBBS to the next level under EQT’s ownership using its well-proven value creation playbook.”
