JSA advised EQT AB on acquiring a controlling stake in GeBBS Healthcare Solutions, a global provider of healthcare outsourcing solutions, from ChrysCapital.
Although the financial details of the deal haven’t been revealed, it’s rumored that the purchase price exceeds $850 million.
JSA’s Transaction Team Comprised Lead Partner – Vikram Raghani and Anand Lakra, Partner – Niharika Mepani, Principal Associate – Ami Shah, Senior Associate – Jinay Shah and Associates – Diya Dave, Ishan Saxena, Tanishqua Desai and Nishi Shah.
Diligence Team Comprised Partner – Sonakshi Das, Of Counsel – Mohammed Abid Hussain, Associates – Riya Saraf, Shivani Jain, Maria Joven Vellara, and Rishi Sandill.
Taxation Team Comprised Partner – Shareen Gupta, Principal Consultant – Ruchita Modi and Associate – Tanay Vyas.
Competition Team Comprised Partners Vaibhav Choukse and Ela Bali and Principal Associate – Nripi Jolly.
EQT AB will make this investment through its BPEA Private Equity Fund VIII, an Asia-focused private equity fund. According to a press release, this fund aims to support GeBBS in its “next phase of accelerated growth and innovation.”
The transaction is anticipated to be completed in the fourth quarter of 2024, with BPEA Private Equity Fund VIII expected to be 70-75% invested following the deal.
Founded in 2005, GeBBS provides various services that help US-based healthcare providers enhance their financial performance by optimizing revenue cycle management (RCM) and ensuring accurate coding and billing. The company operates globally with a workforce of 13,000 employees across the US, India, the Dominican Republic, and the Philippines.
Hari Gopalakrishnan, Partner in the EQT Private Capital Asia advisory team and Head of EQT Private Capital India, stated: “Healthcare technology is a major investment focus for EQT. GeBBS has built a strong business centered on supporting healthcare providers with leading solutions. We see a great match between GeBBS’ growth objectives and EQT’s expertise in generating long-term value. We are eager to help the team advance through EQT’s proven value creation strategies to further boost GeBBS’ growth.”
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