Mumbai: Carlyle Growth Investments IV, an affiliate of US-based private equity fund Carlyle Asia Growth Partners, has acquired Chennai-based Visionary RCM Infotech (India) Pvt. Ltd, a medical coding solutions provider, according to a statement from Carlyle.
Financial details were not disclosed.
Founded in 2006, VRCM offers medical coding services for risk adjustment, audit of medical records, diagnostic and procedural coding services to hospitals and physicians for filing claims with health plans, and support for revenue cycle management (RCM).
“As the medical coding and RCM services market continues to grow, we believe VRCM is well-positioned to capitalize on future market opportunities," said Shankar Narayanan, managing director and co-head of Carlyle Asia Growth Partners.
“Carlyle has deep industry expertise and an extensive network in the global healthcare and technology industry, including in the US. We believe VRCM will strongly benefit from the partnership with Carlyle as we continue to expand our service offerings, develop our business and explore expansion opportunities," said Rajesh P. Surana, chief executive officer (CEO) and founder of Visionary RCM.
Carlyle has invested more than $1.5 billion of equity in more than 30 transactions in India as of 30 September, 2017.
Its current growth investments in India include VBHC Value Homes Pvt. Ltd, South Indian Bank Ltd, Edelweiss Financial Services Ltd, Dee Development Engineers Ltd and Cyient Ltd.