HOVS gets over USD 700 mn of Healthcare Receivable Portfolio

Mumbai, Jan 9 (UNI) HOV Services Ltd (NSE: HOVS), has been assigned for collections over USD 700 million of face value healthcare receivables in the Accounts Receivable Management (ARM) vertical.

Announcing this, a HOVS statment said the addition of this portfolio increases the total debt assigned to HOVS for collections in the ARM vertical to over USD 3.25 billion, an increase of over 29 per cent of approximately USD 2.5 billion.

The healthcare receivable portfolio was recently purchased by a joint venture partly owned by HandsOn Ventures, LLC, an affiliate of the Promoters and assigned under an exclusive service and collection agreement with HOVS.

''We continue to work hard to Exceed Expectations. This is the largest ever single portfolio assignment in our history. We believe, the success is directly attributed to the confidence our customers have in our processes and employees,'' said Company Executive Director Mr Sunil Rajadhyaksha.

UNI