MUMBAI: Global alternative asset manager, Carlyle Group, on Thursday said it has acquired the majority stake in Visionary RCM Infotech (India) to support its growth and expansion plans.
Carlyle Growth Investments IV, an affiliate of Carlyle Asia Growth Partners V has acquired a significant majority stake in VRCM, the largest offshore risk adjustment and medical coding solution provider in India, a statement issued here said.
Carlyle claims it has already invested more than USD 1.5 billion of equity in over 30 transactions in India as on September 30. It has recently made investments in SBI Card and Delhivery.
Founded in 2006, the Chennai-headquartered VRCM have five offshore delivery centers and more than 2,500 employees, offering services to multiple healthcare clients in the country. It offers medical coding services for risk adjustment, an audit of medical records, diagnostic and procedural coding services to hospitals and physicians for filing claims with health plans, and support for revenue cycle management (RCM).
“As the medical coding and RCM services market continues to grow, we believe VRCM is well-positioned to capitalize on future market opportunities. We look forward to working VRCM team to support its next phase of growth,” Carlyle Asia Growth Partners managing director Shankar Narayanan said.
Carlyle has deep industry expertise and an extensive network in the global healthcare and technology industry, including in the US.
“We continue to expand our service offerings, develop our business and explore expansion opportunities,” VRCM CEO Rajesh Surana said.