EQT Private Capital Asia has announced its agreement to acquire a controlling interest in GeBBS Healthcare Solutions from ChrysCapital. GeBBS specializes in revenue cycle management, health information management (HIM), and medical billing services, helping U.S.-based healthcare providers improve their financial performance through optimized revenue cycle processes and accurate coding and billing practices.
Founded in 2005, GeBBS has a global presence with 13,000 employees across the U.S., India, the Dominican Republic, and the Philippines. The company has built strong relationships with a diverse customer base, including hospitals, physician groups, and other healthcare firms.
EQT’s acquisition aims to support GeBBS in its next phase of growth, including expansion into new customer segments, enhancing in-house technology capabilities, and pursuing further mergers and acquisitions. EQT’s investment will leverage its extensive experience in healthcare technology and its value-creation playbook to drive GeBBS’ growth.
Hari Gopalakrishnan from EQT noted the alignment between GeBBS’ growth ambitions and EQT’s experience in creating long-term value. GeBBS’ CEO, Dr. Milind Godbole, welcomed EQT’s expertise, believing it will help propel the company to new heights. ChrysCapital, which has overseen GeBBS’ growth and expansion, is stepping away after facilitating significant organic growth and strategic acquisitions.
The transaction is expected to close in Q4 2024, with EQT being advised by Ropes & Gray, JSA Law, Deloitte Touche Tohmatsu Limited, and PricewaterhouseCooper. The selling shareholders were advised by Jefferies and Avendus. For more information, contact EQT Press Office at press@eqtpartners.com.