Gautum Thapar’s Avantha Group on Wednesday announced that it had acquired US (Florida)-based Pyramid Healthcare Solutions in a deal that values it at $20 million (Rs 92.54 crore).
Avantha has paid $14.5 million upfront and the balance will be paid after two years for a 100 per cent stake in Pyramid. Avantha Group CMD Gautam Thapar said, “Avantha has an established presence in the IT & ITeS space in the US. This acquisition will strengthen our global presence in the niche healthcare solutions sector.”
The Pyramid acquisition will help the company mark its front-end presence and leverage the Pyramid Healthcare Solutions brand and relationships and provide a key platform to scale up domain expertise in the US healthcare market. It will also help offer customers cost-effective end-to-end Revenue Cycle Management services, enabling hospitals to streamline patient billing and collection processes.
Manoj Malhotra, CEO of Avantha Group’s IT & ITeS company, Salient Business Solutions, will have additional responsibility as president of Pyramid Healthcare Solutions. ‘‘This acquisition is a strategic fit to boost our growth plans,” he said.
