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US Headquartered Sutherland Global Services, a global provider of business process and technology management services, announced that it has signed a definitive agreement to acquire Apollo Health Street Limited (AHS), a leading provider of healthcare business services and world-class Health Information Technology (HIT) based solutions. AHS is an associate company of Apollo Hospitals Enterprises Limited. The transaction is expected to close by February 2013, subject to customary regulatory and other conditions.
This acquisition will position the combined organization as a leading Healthcare service provider with comprehensive information technology and business process integrated solutions and consolidate its presence as a dominant player in the $38B US Healthcare BPO market.
Established in 1986, Sutherland offers an integrated portfolio of analytics-driven back-office and customer facing solutions that support the entire customer lifecycle. It is one of the largest, independent BPO companies in the world serving global leaders in major industry verticals. The company has over 30,000 employees globally working out of 35 operations centers in the United States, Philippines, India, UAE, Egypt, Bulgaria, UK, Canada, Jamaica, Mexico, and Colombia.
Apollo Health Street provides customized strategic support services to more than 150 healthcare partners throughout the US from 10 global operational centers of excellence.
Dr. Prathap C Reddy, Founder Chairman of Apollo Hospitals, one of Asia’s Premier Healthcare Groups said, “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. In Sutherland, we 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.”
Apollo Health Street’s outcome-based BPO as well as information technology solutions and clinical domain expertise supports US hospitals, physicians and health plans to not only improve their current operations but also address the challenges and opportunities created by on-going healthcare reforms in the United States, including Meaningful Use, Health Insurance Exchanges (HIX), ICD-10, and Accountable Care Organizations (ACOs).
Dilip Vellodi, Founder Chairman & CEO of Sutherland Global Services said “We have been extremely impressed by Apollo Health Street’s deep domain understanding and world-class platform based delivery capabilities. 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. Apollo’s expertise, combined with our proven capabilities, strengthens our portfolio of Payer, Provider, and Health IT solutions in driving significant value to our client base.”
Apollo’s global clients will now be able to leverage Sutherland’s secure and scalable global infrastructure with full access to Sutherland’s suite of analytics-enabled services. Additionally, Sutherland will utilize Apollo’s domain driven technology, best practices, and global resources to expand and secure its leadership position by providing integrated solutions to address the challenges and opportunities in the healthcare market as well as complex compliance and regulatory mandates.
Ms. Sangita Reddy, Managing Director, Apollo Health Street added, “Over the years, Apollo Health Street has established a very successful suite of technology platform driven solutions for its marquee list of healthcare clients. We are pleased that a strategic player like Sutherland Global Services has acquired Apollo Health Street and will expand and enhance our successful operations while leveraging its global reach.”
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.