PE Fund Investments
TA Associates to acquire RCM services provider Vee Healthtek for $250-M
US private equity fund TA Associates will acquire the Bengaluru- and US-based revenue cycle management (RCM) services provider Vee Healthtek for USD 250 million (about INR 2,100 crore). TA will own a significant majority stake, while the promoter - Chennai-based Valliappa family - will retain a minority stake.Vee Healthtek, owned by Sona Group, provides a range of services, including revenue cycle management, professional billing, and IT services to hospitals, health systems, pharmaceutical companies, and physician groups globally. The company boasts a workforce of 5,000 employees worldwide, and is expected to post USD 100 million in revenue in FY25.This acquisition marks TA Associates' first foray into the Revenue Cycle Management (RCM) space in India and its second investment in the Indian healthcare IT sector, following its USD 250 million investment in Chennai-based Zifo RnD Solutions, a global provider of informatics Solutions for research-based organisations in 2022.
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