Sutherland pips Genpact to acquire Apollo Health Street for Rs1,000 crore
11 Dec 2012
US business process and technology management services company Sutherland Global Services, today acquired Apollo Hospitals BPO unit Apollo Health Street Ltd (AHS), for an undisclosed sum.
Citing unnamed sources, The Business Standard reported that Sutherland Global paid around Rs1,000 crore ($184 million) in cash.
Sutherland Global has acquired 39.4 per cent stake in AHS from promoters, 13 per cent from the promoters family, and the rest from private equity firms JPMorgan's One Equity Partners and Schroder Cap, and Temasek Holdings, the sovereign wealth fund of Singapore.
"The acquisition will help Sutherland consolidate its services portfolio across payer, provider and health IT services. It will also strengthen Sutherland's presence in the $38-billion US Healthcare BPO market," said Dilip Vellodi, Sutherland Global's founder chairman and CEO.
Post closing, the Rochester, New York-based company expects healthcare services to account for 15 per cent of its overall extimated revenues of $900 million in the next fiscal.
Founded in 1986, Sutherland Global is one of the world's largest independent BPO companies employing over 30,000 professionals across 35 centres in the US, Canada, Mexico, Colombia, India, the Philippines, the United Arab Emirates, Bulgaria, Egypt, and the UK.
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