Apollo Health Street (AHS), a part of the Chennai-based Apollo Hospital Group, has acquired Zavata Inc, an Atlanta-based business process outsourcing (BPO) and enterprise support (ES) solutions company, for about Rs 700 crore.
The combined organisation will have more than 100 customers and over 2,500 employees spread across multiple locations in the US and India.
Post acquisition, AHS will become the largest healthcare-focussed BPO company in the country.
Satish Sanan, executive chairman and CEO of Zavata, will stay on as a consultant in the merged entity. Zavata's employees are located in client centers and offices in Georgia, Pennsylvania, New York, California and Florida in the US and Hyderabad in India.
"There are significant synergies to be achieved from this transaction, and the acquisition of Zavata has helped us position AHS as one of the largest, fully integrated healthcare BPO companies in the world with further capabilities in providing enterprise support services. In addition to the set of services we already offer, Zavata adds a complementary set of services including expertise in areas such as full business office and emergency medical transport billing," said Sangita Reddy, managing director, Apollo Health Street.
This is the fourth acquisition by Apollo Health Street and the second in the US.
Bank of India and Barclays Capital jointly structured and provided the debt financing for the transaction, sources said.
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