Corporate Updates

Accentia Tech acquires 3 US BPOs for INR 800 million

Mumbai-Based business process outsourcing company Accentia Technologies has reportedly acquired three US-based healthcare BPO companies for about INR 800 million, sources close to the deal said.It has bought Florida-based GSR Physician Billing Inc and GSR Systems Inc and Oregon-based medical transcription services provider DenMed Inc, in cash-cum-stock deals. In the US 49% of the transcription, coding, billing and collection work in the healthcare space is outsourced to US-based service companies by US hospitals and of that only 1% work is offshored to India making entry barriers in the sector extremely difficult. But since the three companies have 60-65 clients each with long-terms contracts, Accentia would be in a  better place to penetrate the market that is valued at nearly USD 2.2 trillion. While the GSR group companies have revenues of USD 3 million each, DenMed had revenues of USD 1.5 million. The company expects to add nearly USD 10 million to its topline by way of these acquisitions.

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