Avantha Group acquires U.S. based Pyramid Healthcare Solutions
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New Delhi: Avantha Group announced that it has entered into a definitive agreement with U.S. based Pyramid Healthcare Solutions (PHS) under which it has acquired 100 percent stake in the company. The enterprise value of PHS is approximately $20 million of which $14.5 million 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 Pyramid Healthcare Solutions. Gautam Thapar, Chairman & CEO, Avantha Group said, "Avantha Group has an established presence in the IT & ITeS space in the U.S. This strategic acquisition will strengthen our global presence in the niche healthcare solutions sector." The Pyramid acquisition will help the company mark its front end presence and leverage Pyramid Healthcare Solutions brand and relationships and provide a key platform to scale-up domain expertise in the U.S. 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. The Pyramid acquisition enables an increased service portfolio offering to customers. Pyramid's expertise will equip the company with complete best-practice suite of revenue cycle solutions, including coding services (on-site and remote), HIM services, cancer registry, revenue cycle, revenue discovery, charge capture, accounts receivable management, patient financial services, human resources, managed care services, and education and training.

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