- GeBBS Healthcare Solutions (“GeBBS” or the “Company”) specializes in revenue cycle management, health information management (HIM), and medical billing services
- It offers a range of services designed to help US-based healthcare providers, including hospitals, health systems, and physician practices, improve their financial performance by optimizing revenue cycle processes and ensuring accurate coding and billing practices
- Drawing on its extensive experience of supporting global healthcare technology providers and proven value creation playbook in Tech Services, EQT will support GeBBS’ management team in the next phase of their growth strategy, including through expansion into new customer segments, strengthening in-house technology capabilities, and driving further M&A
EQT is pleased to announce that the BPEA Private Equity Fund VIII (“EQT Private Capital Asia”) has agreed to acquire a controlling beneficial interest in GeBBS, a global provider of healthcare outsourcing solutions, from ChrysCapital.
GeBBS offers a range of services which help US-based healthcare providers improve their financial performance by optimizing revenue cycle management (RCM) processes and ensuring accurate coding and billing practices. The fragmented global RCM services market continues to witness double-digit growth, driven by long-term trends such as growing patient volumes, increasing complexity within US healthcare operations, and limited availability of skilled resources for critical functions. GeBBS is well-positioned to capitalize on these tailwinds on the back of its strong solutions suite, which spans the front, middle and back-end of the RCM value chain. The Company – which was founded in 2005 and has established a global footprint of 13,000 employees spread across the US, India, Dominican Republic and Philippines – benefits from strong relationships with a diverse range of customers across US-based hospitals, physician groups, and other healthcare firms.
EQT Private Capital Asia will support the Company’s next phase of accelerated growth and innovation, drawing on EQT’s deep experience in the healthcare technology segment, global network of industry experts and dedicated digital value-creation team.
Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team and Head of EQT Private Capital India, said: “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. We look forward to supporting the team through EQT’s proven value creation playbook to further accelerate GeBBS’ growth momentum.”
“We are excited to welcome an investor of EQT’s stature, whose profound expertise in healthcare and technology services promises to be a game-changer as we embark on the next thrilling chapter of GeBBS”, said Dr. Milind Godbole, CEO and Managing Director of GeBBS. “EQT has an impressive track record of building and scaling technology and business services platforms successfully. With a strong foundation built under ChrysCapital’s ownership, we believe we are well positioned to take GeBBS to the next level under EQT’s ownership using its well proven value creation playbook.”
Akshat Babbar, Managing Director, ChrysCapital Advisors, said,”We are extremely glad to have partnered with GeBBS Healthcare. The Company’s deep capabilities and technological prowess make it the partner of choice for large health systems in the US. Since our investment, the Company has delivered industry-leading organic growth and, through four key acquisitions, added new competencies and expanded its global footprint. We wish EQT all the best as they continue the journey and take GeBBS to new heights.”
EQT Private Capital Asia was advised by Ropes & Gray, JSA Law, Deloitte Touche Tohmatsu Limited, and PricewaterhouseCooper. The selling shareholders were advised by Jefferies and Avendus.
With this transaction, BPEA Private Equity Fund VIII is expected to be 70-75 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication). The transaction is expected to close in Q4 2024.
