industry

Blackstone, Carlyle and other PEs submit bids to unlock Access' majority stake


Mumbai: About half a dozen global private equity funds including Blackstone, Carlyle, TPG, New Mountain Capital and Hillhouse Partners have shown interest in acquiring a majority stake in Chennai and Texas-based healthcare BPO Access Healthcare, said people aware of the development. Non-binding bids were submitted a week ago, they added, underscoring the heightened focus on consolidation in the space.A majority stake sale is expected to value Access Healthcare at $1.4-1.5 billion. Investment bank Jefferies is advising Access Health.

The company founded in 2012 by Anurag Jain is a leading provider of revenue cycle management (RCM) services, specialising in medical billing, coding, and accounts receivable management. It has 27,000 employees and 20 global delivery centres with operations in nine Indian cities, including Chennai, Mumbai, Pune, Noida, Coimbatore and Thiruvananthapuram besides the Philippines and the US.

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Access Healthcare is expected to post revenue of $360 million and ebitda of $120 million in FY25, said sources.


Jain is a serial entrepreneur and venture capitalist who co-owns the Texas Super Kings Team in the US Major League Cricket tournament.He also serves as managing partner of Perot Jain LP, co-founded Brigade Corporation, an international customer support company, and founded Vision Healthsource, an Indian IT and business process outsourcing company.Access Healthcare supports over 500,000 healthcare providers across 80 specialties and processes over $120 billion of accounts receivable annually.

Accounts receivable in healthcare outsourcing refers to tracking and collecting payments from insurance companies and patients for healthcare providers’ services.

Investors include former executives at Dell Services (Perot Systems) and Ross Perot Jr Athenahealth, a cloud-based software company, is also a minority stakeholder. In recent years, Access Healthcare has expanded its footprint in India through acquisitions, including Pacific BPO in 2018.

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Last year, the company opened a 170,000 sq ft facility in Noida, investing approximately $5 million.

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