Global provider of business process and technology management services, Sutherland Global Services, recently signed a definitive agreement to acquire Apollo Health Street Limited, a provider of healthcare business services and health information technology solutions. The transaction won't close until February 2013, however, pending customary regulatory conditions.
Apollo Health Street is an associate company of Apollo Hospitals Enterprise Limited.
The acquisition will obviously help position Sutherland as a major player in the $38-billion U.S. healthcare business process outsourcing (BPO) market. It will also serve to aid Apollo Hospitals' intent to focus on its core healthcare delivery services going forward.
"In order to drive Apollo Health Street's growth to the next stage of its evolution, it was essential to find the right strategic partner," said Dr. Prathap C. Reddy, founder and chairman of Apollo Hospitals, in a statement. "In Sutherland Global Services, we have found the ideal partner with a proven track-record of excellence in services, technology, and leadership. The combined capabilities of both companies will create a compelling value proposition for our clients."
Sutherland's integrated portfolio of analytics-driven back office and customer facing solutions are capable of supporting the entire customer lifecycle. This approach has made the company one of the largest independent BPO companies in the world.
Apollo's global clients will now be able to leverage Sutherland's secure, scalable global infrastructure, along with full access to the company's suite of analytics-enabled services. Meanwhile, Sutherland will use Apollo's domain-driven technology and global resources to further its position.
"With this acquisition, Sutherland addresses the central challenge facing major North American and European healthcare Providers and Payers - to provide exceptional service to patients in a cost effective manner," said Dilip R. Vellodi, founder, chairman and CEO of Sutherland Global Services.
In August, a handful of former Sutherland Global Services employees were arrested and charged with conspiring to commit mail and wire fraud against Intuit, a developer of financial and tax preparation software.
Edited by Brooke Neuman