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.


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:

(Date:11/27/2015)... ... 2015 , ... The moment you stop improving is the ... the needs of advisers and clients but going above and beyond to find ... service. However, there's always room for improvement, which is why the entire Consulting ...
(Date:11/27/2015)... ... 2015 , ... CBD College is proud to announce that on ... accreditation to its Diagnostic Medical Sonography program. CBD College is honored to join this ... colleges and universities in the state of California make the cut. CBD College is ...
(Date:11/27/2015)... ... 2015 , ... Dr. Thomas Dunlap and Dr. Patrick Coleman ... with Emergency Medicine at St., Joseph Health System’s Santa Rosa Memorial Hospital , ... in similar ways and require time-critical intervention to avoid large area heart damage and ...
(Date:11/27/2015)... ... ... Indosoft Inc., developer and distributor of the world-class Asterisk ... Term Support) into its Q-Suite 5.10 product line. , Making the change to ... of Asterisk that will receive not only security fixes, but feature and bug ...
(Date:11/26/2015)... ... 2015 , ... Inevitably when people think Thanksgiving, they also think Holiday sales ... Black Friday and Cyber Monday massage chair sales to receive the best ... low to find the best massage chair deals, they can see all of the ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... 2015 AAIPharma Services Corp./Cambridge Major Laboratories, ... least $15.8  Million to expand its laboratories and ... . The expansion will provide additional office space ... demands of the pharmaceutical and biotechnology markets. ... provide up to 40,000 square feet of expanded ...
(Date:11/25/2015)... , Nov. 25, 2015  ARKRAY USA ... continues to provide evidence demonstrating the accuracy of its ... Congress on Insulin Resistance, Diabetes and Cardiovascular Disease in ... both the Company,s GLUCOCARD ® 01 meter and ... accuracy requirements. The ability to accurately measure glucose levels ...
(Date:11/25/2015)... 25, 2015 Kitov Pharma ... KTOV), a biopharmaceutical company focused on the development of ... conditions, today announced the closing of its previously announced ... ADSs ), each representing 20 ordinary shares of the ... The ADSs and warrants were issued in a fixed ...
Breaking Medicine Technology: