Firstsource in questto buy US-based MedAssist for $300 Mn
By siliconindia | Thursday, 23 August 2007, 07:00 Hrs
Mumbai: Indian business process outsourcing (BPO) firm, Firstsource Solutions, has emerged as the frontrunner in the quest to buy US-based healthcare player MedAssist. The deal size is said to be close to $300 million. If the deal takes place, the acquisition will be one of the largest overseas acquisitions after Wipro's buyout of Infocrossing and the largest in the BPO space. Firstsource is also rumoured to be in the race to acquire Citi's BPO unit after the first round of bidding. The sale of the BPO business, being run by Citigroup Global Services, is expected to fetch Citi around Rs 3,200 crore. Other bidders include WNS and Genpact. Around 13 percent of Firstsource's revenue comes from the healthcare segment. In January this year, it acquired BPM -- a Delaware-based healthcare claims' outsourcing company for around $30 million. Ananda Mukerji, MD and CEO, Firstsource, had then said, "The healthcare vertical is one of our three focus verticals and represents a high growth area. We also acquire marquee customers, which provide a good opportunity to cross-sell."