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:4/25/2017)... ... April 25, 2017 , ... Splashtop Inc. , ... . This new addition to the Mirroring360 product family combines device screen mirroring ... Mirroring360 Pro enables educators, business professionals and individuals to stream or mirror app ...
(Date:4/25/2017)... , ... April 25, 2017 , ... ... CFOs and HR decision-makers are preparing for how his administration could impact the ... provide insight into what changes are most likely to make it through Congress. ...
(Date:4/25/2017)... NV (PRWEB) , ... April 25, 2017 , ... ... now choose a modern procedure that achieves results in a fraction of the ... in Las Vegas, NV, with Significance Dental Specialists, now offers this revolutionary treatment ...
(Date:4/25/2017)... MN (PRWEB) , ... April 25, 2017 , ... Buyers ... and recreational users to dispensaries and head shops –can’t help but be heartened by ... for the tell-tale cannabis odor aptly described as “skunk smell.” At last they ...
(Date:4/25/2017)... Hollywood, Fl (PRWEB) , ... April 25, 2017 , ... ... than Memorial Regional Hospital, according to a special report in the May issue of ... Hospital its highest quality ranking for results achieved during and after coronary bypass ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... April 19, 2017 The Global Effective ... to 2022 report has covered and analysed the potential of ... on market size, shares and growth factors. The report identifies ... and opportunities in the global market. ... Browse 152 Tables and Figures, 6 Major Company ...
(Date:4/19/2017)... THOUSAND OAKS, Calif. , April 19, 2017 ... premium industrial buildings it is developing at Conejo ... California , to Atara Biotherapeutics, Inc. ... patients with severe and life-threatening diseases that have ... focus on allogeneic T-cell therapies for cancer, autoimmune ...
(Date:4/18/2017)... , April 18, 2017  Astute Medical, Inc., developer ... series to be presented at the 2017 National Kidney ... today and continues through April 22. Physicians will present ... used to assess risk for acute kidney injury (AKI) ... failure (ADHF). Elevated levels of TIMP-2 ...
Breaking Medicine Technology: