Apollo Health Street (AHS), business process outsourcing (BPO) company specialising in solutions catering to the healthcare industry and part of the Apollo Hospitals group, is in talks with three private equity funds (PEs) for its upcoming 3,000-bed project at Siruseri near Chennai.
The project will have an initial investment between $20-$25 milllion.
However, when contacted AHS officials were not available for comment. According to sources, the existing PEs such as Temasek, JP Morgan?s One Equity, SVG are likely to fund the new project.
AHS’s offerings include a range of outsourcing services catering to hospitals, physicians and payers as well as information technology solutions. The company has commenced the first phase of the new project with 250-odd employees and expect to complete the other phases in the next few months, the sources added.
To coincide with this development, AHS has signed a contract to provide accounts receivable management with Hazel Hawkins Memorial Hospital of Hollister, California and also entered into a contract to provide accounts receivable management for St Mary’s Health System of Evansville, Indiana. AHS also opened a new office to serve healthcare providers in Boston, Massachusetts. The company has recently named Karen Ferrell as president and CEO and to serve as boardmember.
