Homegrown Private equity firm ChrysCapital announced that it has acquired about 80% stake in GeBBS Healthcare Solutions for a deal worth Rs 1,000 crore ($140 million).
Founded in 2005, the US-based GeBBS Healthcare Solutions provides business process outsourcing (BPO) services to hospitals and healthcare organizations.
GeBBS will continue to be led by Nitin Thakor and Milind Godbole who, together with the existing management team, has been instrumental in driving the company’s growth.
“We are excited to partner with ChrysCapital as we enter our next phase of growth.” said Nitin Thakor, President and CEO of GeBBS Healthcare Solutions. “We chose to partner with ChrysCapital because they bring with them a strong track record of building best-in-class businesses. Their deep domain expertise and strong network of relationships will complement our capabilities and drive additional value to our customers. We now have the resources to accelerate our growth and strategic objectives.”
“With access to decades of experience with IT and BPO companies, ChrysCapital is confident that its investment in GeBBS will help differentiate the company and significantly accelerate its growth trajectory. We look forward to participating in GeBBS’ continued success,” said Sanjay Kukreja, Partner at ChrysCapital.
ChrysCapital, founded in 1999, is one of the largest and most successful India-focused private equity firms with over $3 billion in AUM across 7 funds. The firm’s current and past investments include HCL Technologies, L&T Infotech, LiquidHub, Infogain, Mankind Pharma, Hero FinCorp and National Stock Exchange of India.
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