Firstsource acquires US based Medssist

Mumbai Aug 29 (UNI) India-based BPO Firstsource Solutions today acquired US based MedAssist Holding, Inc., provider of revenue cycle management in the healthcare industry for USD 330 million.

MedAssist, headquartered in Louisville, Kentucky, has 1,400 employees and is a pan-American provider of revenue cycle management services to the healthcare industry. The company has over 1,000 clients including hospitals, large physician groups and alternate site providers. MedAssist's revenue for year ended was USD 99 million.

Firstsource, which already has a strong presence in the US healthcare BPO space, will now also enter the provider side of healthcare BPO services. Currently, hospital care in the US amounts to approx. USD 700 billion.

MedAssist's capabilities provide Firstsource with a pan-American presence in this provider segment, consisting of over 5,000 hospitals nation-wide.

Commenting on the acquisition Ananda Mukerji, Managing Director&CEO, Firstsource said, ''The healthcare space in the US is a tremendously attractive market from a BPO perspective. This acquisition gives us access to the equally large provider side.'' Firstsource's current clients in the healthcare industry include three Fortune 100 US healthcare insurance companies.

UNI