ChrysCapital has acquired a majority stake in Culver City, California-based GeBBS Healthcare Solutions, a provider of revenue cycle management solutions for the healthcare industry. No financial terms were disclosed. Houlihan Lokey provided financial advice to GeBBS Healthcare Solutions on the transaction with Mundkur Law Partners and Clark Hill providing legal advice. And, Shardul Amarchand Mangaldas & Co and Wilson Sonsini Goodrich & Rosati advised ChrysCapital.
CULVER CITY, CALIF. (PRWEB) DECEMBER 05, 2018
GeBBS Healthcare Solutions, a leading national provider of Revenue Cycle Management (RCM) solutions for the healthcare industry, announced today that ChrysCapital, a marquee Indian private equity fund with a global technology services footprint, has acquired a majority stake in the company.
Founded in 2005, GeBBS Healthcare Solutions is one of the fastest-growing companies in the industry. Their cost containment solutions leverage the latest technology and help clients increase profitability and scalability. GeBBS will continue to be led by Mr. Nitin Thakor and Mr. Milind Godbole who, together with the existing management team, have been instrumental in driving the company’s growth.
“We are excited to partner with ChrysCapital as we enter our next phase of growth.” said Nitin Thakor, President and CEO of GeBBS Healthcare Solutions. “We chose to partner with ChrysCapital because they bring with them a strong track record of building best-in-class businesses. Their deep domain expertise and strong network of relationships will complement our capabilities and drive additional value to our customers. We now have the resources to accelerate our growth and strategic objectives.”
“ChrysCapital has a long tradition of successful partnerships with entrepreneurs, supporting their growth and expansion in a collaborative manner. We are excited to partner with Nitin, Milind and the existing management team to build the world’s leading healthcare business services company. With access to decades of experience with IT and BPO companies, ChrysCapital is confident that its investment in GeBBS will help differentiate the company and significantly accelerate its growth trajectory. We look forward to participating in GeBBS’ continued success.” said Sanjay Kukreja, Partner at ChrysCapital.
Houlihan Lokey acted as exclusive financial advisor to GeBBS Healthcare Solutions. Mundkur Law Partners and Clark Hill acted as legal advisors to GeBBS Healthcare Solutions. Shardul Amarchand Mangaldas & Co and Wilson Sonsini Goodrich & Rosati acted as advisors to ChrysCapital.
GeBBS Healthcare Solutions is a leading technology-enabled provider of revenue cycle management (RCM) solutions. GeBBS’ innovative technology, combined with its over 6,000-strong global workforce, helps clients improve financial performance, compliance, and patient satisfaction. GeBBS’ solutions include Health Information Management (HIM), Revenue Cycle Management (RCM), Patient Access and Risk Adjustment Solutions. Headquartered in the Los Angeles, CA area, GeBBS has won numerous accolades, including being ranked in Modern Healthcare’s Top 15 Largest RCM Firms, Black Book Market Research’s Top 3 RCM Outsourcing Services for Health Systems, and Inc. 5000’s fastest growing private companies in the U.S. For more information, please visit http://www.gebbs.com.
Founded in 1999, ChrysCapital is one of the largest and most successful India-focused private equity firms with over $3 billion in AUM across 7 funds. Since inception the firm has made over 80 investments and has delivered over 65 exits across a number of sectors including in Business Services, Financial Services, Pharmaceuticals, Healthcare and Consumer. ChrysCapital’s investors include global endowments, sovereign funds, family offices, foundations and fund of funds. The firm’s current and past investments include HCL Technologies, L&T Infotech, LiquidHub, Infogain, Mankind Pharma, Hero FinCorp and National Stock Exchange of India. To learn more about ChrysCapital, please visit http://www.chryscapital.com