Avantha Group’s IT arm buys Pyramid Healthcare Solutions

Avantha Group, $4 billion worth Indian conglomerate with varied business interests, has signed a contract with Pyramid Healthcare Solutions (PHS) to acquire the entire stake of the company located in Florida. The project value of PHS is around $20 million and Avantha Group has already paid $14.5 million as upfront, while it has been agreed that the remaining amount will be reimbursed after two years.

Following the acquisition, the CEO of Salient Business Solutions, Avantha Group’s IT and business process outsourcing (BPO) arm, Manoj Malhotra will additionally be the President of Pyramid Healthcare Solutions. Meanwhile, Avantha Group was assisted by Langham Capital, which acted as a special economic consultant, in securing the deal.

Quoting the Chairman and CEO of Avantha Group Gautam Thapar, a business website reports that the company has already established its footprint in the IT and ITeS market in the United States and acquiring Pyramid Healthcare Solutions would reinforce the Indian’s firm’s presence globally, especially in the healthcare solutions slot. Thapar further said that acquisition of Pyramid Healthcare Solutions would enable the Indian IT firm to enhance its presence in the US as well as leverage the US firm’s brand name and associations to augment domain proficiency in the United States healthcare market. In addition, the acquisition would also enable Avantha Group to offer its clients inexpensive and comprehensive Revenue Cycle Management (RCM) services that would allow hospitals to streamline to make their patient billing and collection procedures more efficient.

Elaborating on the acquisition of the US-based PHS, CEO Salient Business Solutions and President of Pyramid Healthcare Solutions, Manoj Malhotra said that acquiring the firm was a strategic decision and the company perfectly matches the Indian IT BPO firm’s growth plans. He was optimist that PHS would enhance the value of Salient Business Solutions in the consultative solutions and Business Process Transformation (BPT) domain by means of utilizing resourceful expertise. In addition, by leveraging the best performances of Pyramid Healthcare Solutions, Salient Business Solutions would be able enhance its client base and successfully administer its business associations.