Navigation Links
Apollo's Global Arm Acquires US-based Firm

Apollo Group's global arm has acquired US-based Armanti Financial Services (AFS) for $31 million in a deal that makes the combined entity one of the largest healthcare// processing companies in the hospital business for receivables management.

Apollo Health Street (AHS), the global healthcare service company of Apollo, announced the acquisition Monday.

Apollo Health Street offers healthcare focused business process outsourcing and IT services while Armanti, with its head office in New Jersey, is one of the largest hospital billing and receivable management companies.

Sangita Reddy, managing director, AHS, announced the acquisition at a news conference here in the presence of William Colgan, promoter and managing director, AFS.

The acquisition deal, through internal accruals, equity and debt will be completed in three years and AFS will remain a 100 percent subsidiary of AHS in United States.

"With this acquisition, the combined Apollo-AFS entity is now among the largest healthcare processing companies in the hospital and physician space, responsible for receivables management of over $1 billion annually," said Sangita Reddy.

"This acquisition brings together a global team of some of the most knowledgeable healthcare professionals and would help in expanding the scope of services to customers of both AFS and AHS," said William Colgan.

With US healthcare valued at $2 trillion and $380 billion of this going into back office operations, the combined entity will be leveraging its synergies to make the most of this huge opportunity.

With this acquisition, AHS is expected to increase its revenues to $45 billion in 12 months. The acquisition of two more US-based companies is in the pipeline, and with this the company hopes to push up revenues to $100 million in 18 months.

The combined entity, with 1,500 employees including 25 percent of them in the US, plans to enhan ce the numbers to 2,000 in the next year and to 2,750 in 18 months.

The Apollo Group invested $12 million in AHS, which is growing at over 70 percent since its inception three years ago. J P Morgan Chase and Co and Temasek Holdings are other investors in AHS.

Founded in 1998, AFS handles $1 billion healthcare receivables. Its annual revenues are $26 million and it is growing at 20 percent annually.

Sangita Reddy said AHS, one among top three healthcare companies out of India, aimed to become number one and the acquisition-led growth of the company is expected to be 50 to 60 percent.

Source-IANS
'"/>




Related medicine news :

1. Apollos Foray into the Hearts of Women
2. SARS-Free Taiwan to Mark End Phase of Global Fight
3. Prevent Global Warming by Becoming A Vegetarian
4. India To March Ahead in The Global HealthCare Competition
5. Global Outbreak Of Bird Flu Warning By Chinese Scientist
6. TWO India Doctors Listed in TIME for Contribution to Global Health
7. Global Hospitals coming to city of Joy
8. John Hopkins CGHH program provides Global Health education
9. Ban on Global fund lifted in Uganda
10. Global Warming Could Cause 5 Million Illnesses: WHO
11. Global Health Bonds to Improve Health Care Facilities for the Underprivileged.
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:3/24/2017)... ... March 24, 2017 , ... Vighter established its NAEMT Authorized ... providing Prehospital Trauma Life Support (PHTLS) course scholarships to four medics assigned to ... developed in cooperation with the American College of Surgeons to promote critical thinking ...
(Date:3/24/2017)... ... March 24, 2017 , ... The Radiology Business Management Association ... The annual awards, now in their 12th year, are among the most prestigious in ... In 2016, the awards were retooled to recognize achievements in both large budget (over ...
(Date:3/24/2017)... Lake Orion, MI (PRWEB) , ... March 24, ... ... providing insurance assistance, financial planning, and related services to families and business owners ... charity initiative aimed at feeding regional families struggling with financial difficulties. , The ...
(Date:3/24/2017)... ... March 24, 2017 , ... Northridge dentists, ... treatments for sleep apnea and TMJ at their office. TMJ, or temporomandibular joint ... the obstructive type, is increasingly being treated at dental offices with newly developed ...
(Date:3/24/2017)... ... 24, 2017 , ... Gastro Health (“GH”) ( http://www.gastrohealth.com ... for colonoscopy at the HyGIeaCare® Center that is to be located adjacent to ... , The HyGIeaCare® Prep, cleared by the U.S. Food and Drug Administration (FDA), ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... INDIANAPOLIS , March 23, 2017  Eli Lilly ... William Sansum Diabetes Center have established a research collaboration ... diabetes through enhanced research, education and care. ... bears a disproportionate weight on Latino families in ... Kerr , M.D., FRCPE, director of Innovation and Research ...
(Date:3/23/2017)... Summary Global ... guide Primary Hyperoxaluria - Pipeline Review, H1 2017, ... Urinary System And Sex Hormones) pipeline landscape. ... recurrent kidney and bladder stones. It results from ... include blood in the urine, pain when urinating, ...
(Date:3/23/2017)... March 23, 2017  Digital Pharmacist Inc. ( ... a rapidly growing digital health company, announced today ... that allows patients to manage their prescriptions. Over ... as Denver Health Pharmacy, USave Pharmacy and Owen,s ... Digital Pharmacist accelerate its product development schedule, the ...
Breaking Medicine Technology: