Ajuba Solutions plans USD 20 mn capex in India

US-based healthcare BPO Ajuba Solutions is planning to invest USD 20 million in its Indian subsidiary soon to meet increased demand created by healthcare reforms in the US.
"We have already invested USD 40 million in our Chennai- based subsidiary and looking at investing another USD 20 million in technology, infrastructure facility, big data and analysis processing," Ajuba Solutions CEO Tony Mira told PTI here.
The company proposes to fund the capex through bank loans. It is also looking at raising funds through PE investors.
Founded in 1999 at Michigan, USA, the company provides healthcare revenue cycle outsourcing services to large physician organisations, hospitals and health systems in USA.

It commenced offshore operations through its wholly owned Indian subsidiary Ajuba Solutions India Pvt Ltd based in Chennai in 2001. It has 4 operational centres in Chennai and employs close to 2,800 people at present.
"We are planning to set up two new facilities and the first one would have a capacity to seat 1,000 employees by 2015. We see a huge opportunity with insurance coverage being expanded through ObamaCare," Mira said.

According to recent reports, the global healthcare IT market is estimated to grow at a CAGR of 7 per cent to reach USD 56.7 billion by 2017 from USD 40 billion in 2012. The demand for clinical information technology, administrative solutions and services is seeing a tremendous increase owing to recent Healthcare Affordable Act in the US.

Healthcare BPO in US is USD 80 billion market and is growing at an 15-20 percent annually, he said.
Ajuba is also looking at healthcare BPO opportunities in UK, Canada and Australia in the near future.
The Indian healthcare industry is also providing big opportunity like USA, but needs better regulations, he said.