MiraMed to acquire a US company soon

The US-based healthcare business process outsourcing (BPO) group MiraMed Global Services is hoping to close an acquisition deal there by the end of this year or early next year, said a top group official.

"We have reached the final due-diligence stage to acquire a US-based company with a turnover of around $50 million. Our lawyers are looking at the deal," Tony Mira, co-founder and group CEO, told IANS here Thursday.

He said the target company is in healthcare provider (hospitals) service and technology space which will be a good fit for the over $100 million revenue MiraMed group.

"We are hoping to close the deal by the end of this year or next January," Mira remarked.

The group is looking for companies with a turnover of $50-75 million.

"The healthcare sector in the US is changing. There are companies that do not have the resources to invest and scale up," Mira said.

He said there are companies funded by private equity investors who generally like to move out after being invested in a company for certain period of years.

According to him, it is such companies that are coming up for sale.

He said the group is also looking at providing its data analytics services to pharmaceutical companies in the areas of drug research and others.

The group is exploring the British market for acquisitions.

Speaking about the group's Indian outfit Ajuba Solutions India, Narasimha Nayak, director-finance and administration, told IANS: "We are looking at a growth of around 15-20 percent in revenues this year."

Last year Ajuba Solutions closed its books with revenue of Rs. 132 crore, Nayak said.

The company will be adding a new facility to its fold here early next year that would have a capacity of around 650 seats, he added.