Private Equity Fund Investments
Baring Asia to acquire healthcare BPO biz of Hinduja Global for $1.2 B
Mumbai-based, publicly-listed IT & BPO services firm Hinduja Global Solutions Ltd (HGS) is to divest its healthcare services business to Baring Private Equity Asia at an Enterprise Value of USD 1.2 billion. Barclays Bank acted as the sole financial advisor to HGS on the transaction. HGS' Healthcare Services supports payers, providers, laboratories, durable medical equipment firms and pharmaceutical companies with solutions to help their teams to deliver better patient, member, business and financial outcomes. It has over 20,000 employees across India, the Philippines, the US and Jamaica. The firm recorded revenues of about USD 400 million in FY21. Post-deal, HGS will transfer all client contracts, employees, and assets, including infrastructure related to the healthcare services business to Baring Asia.
From the Venture Intelligence PE-VC Deal Database: Baring Asia's portfolio companies in the IT Services and BPO sectors include AGS Health (also a Healthcare BPO firm), Hexaware Technologies, Citiustech, Coforge and CMS Info Systems. It has made partial or full exits from some of these investments. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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