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Private equity fund ChrysCapital group has signed definitive agreements to sell a controlling stake in GeBBS Healthcare Solutions to funds managed by Swedish global investment firm EQT, a statement said.
The financial details of the transaction were not revealed.
ChrysCapital acquired GeBBS Healthcare in 2018 and has been instrumental in transforming GeBBS into a leading healthcare technology company.
After the acquisition, the company expanded its portfolio of offerings through strategic acquisitions, including Aviacode in 2021, CPa in 2023, MRA in 2023, and CCD Health in 2024. The company employs over 13,000 people and has delivery centres in India, the Philippines, the USA, and the Dominican Republic. The portfolio of solutions also includes AI-powered tools for coding compliance, autonomous coding, automation of accounts receivable, and streamlined workflows for risk adjustment.
GeBBS provides revenue cycle management services and risk adjustment solutions to hospital systems and payers in the US. Its technologies help clients optimize their organizational workflows, improve financial performance, adhere to compliance, and enhance patient experience.
The US healthcare industry is a large market with multiple stakeholders and complex structures. These complex structures underpin the need for higher RCM spending. Research suggests that the RCM services outsourcing market is estimated to reach $28 billion and grow at 8-9 per cent annually. The market opportunity has allowed offshore vendors, such as GeBBS, with a broad portfolio of solutions, to witness significant tailwinds, driven by cost pressures and lack of talent onshore.
“Healthcare technology is a key investment theme for EQT. GeBBS has developed a robust business with a clear focus on supporting healthcare providers through industry leading solutions. We see strong alignment between GeBBS’ growth ambitions and EQT’s experience in creating long-term value,” said Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team and Head of EQT Private Capital India.
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