HGS to sell healthcare business to PE firm Baring for $1.2 billion

BENGALURU: Hinduja Global Solutions (HGS) said it will sell its healthcare services business to PE firm Baring Private Equity Asia for $1.2 billion to unlock value for its shareholders.

The business, which reported Rs 861 crore in revenue in the first quarter and contributed 56% to the topline, supports payer, providers, laboratories, durable medical equipment firms and pharmaceutical companies. The services cover the entire lifecycle of a payer including member acquisition, enrollment & billing, benefit set-up and claims adjudication.

The healthcare business has more than 20,000 employees across India, the Philippines, USA and Jamaica and had revenues of about $400 million last fiscal. Post the transaction, HGS will transfer all client contracts, employees, and assets, including infrastructure related to the business to Baring.