Avantha buys US based Pyramid Healthcare Solutions

by CXOtoday Staff    May 21, 2010

Avantha Group has acquired 100 percent stake of Florida, US-based Pyramid Healthcare Solutions (PHS). The enterprise value of PHS is approximately US $20million of which US $14.5million has been paid upfront and the balance will be paid after two years. Manoj Malhotra, CEO of Avantha Group’s IT & ITeS company- Salient Business Solutions will have additional responsibility as president of PHS.

 "Avantha Group has an established presence in the IT & ITeS space in the US. This strategic acquisition will strengthen our global presence in the niche healthcare solutions sector," said Gautam Thapar, Chairman & CEO, Avantha Group.

The Pyramid acquisition will help Avantha mark its front end presence and leverage PHS brand to provide 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 (RCM) services enabling hospitals to streamline patient billing and collection processes.

"This acquisition is a strategic fit to boost our growth plans. It will create value for us in the field of Business Process Transformation (BPT) and consultative solutions through the use of efficient technologies," said Manoj Malhotra, CEO, Salient Business Solutions & Pyramid Healthcare Solutions.