Firstsource Solutions, an RP-Sanjiv Goenka Group company and a provider of business process management services, has acquired the US-based PatientMatters for $13 Mn.
The acquisition will help Mumbai-headquartered Firstsource expand its footprint in the US, also to strengthen its healthcare services portfolio.
Founded in 2000, Firstsource offers business process outsourcing (BPO) services for customer life cycle management solutions in banking, financial services, healthcare, telecom and media. The company claims to have more than 100 clients across India, the Philippines, Sri Lanka, the UK and the US.
PatientMatters is a healthcare revenue cycle management solutions provider based in Orlando, Florida. The company works in the patient-healthcare provider relationship management space and provides front-end revenue cycle management solutions.
“The healthcare space in the US is ripe for digital disruption—a trend further accelerated by the pandemic. This strategic acquisition magnifies our strong patient-centric revenue management capabilities and creates adjacent areas for growth for us,” said Firstsource chairman Sanjiv Goenka said in a statement.
According to the company, the acquisition adds new capabilities of pre-authorisation and patient bill estimation to Firstsource’s suite of service offerings for its clients.
Meanwhile, in July this year, the RP-Sanjiv Goenka Group acquired a 51% majority stake in AI-powered news app Editorji for an undisclosed amount. Founder Vikram Chandra has continued to serve as the managing director of Editorji.
Editorji uses artificial intelligence (AI) and machine learning (ML) to learn user tastes and preferences, and suggest a playlist of news videos tailored to their interests.
In 2018, the Sanjiv Goenka-owned industrial and services conglomerate created a venture capital fund of $14.74 Mn (INR 1 Bn) to invest in fast-moving consumer goods (FMCG) startups.
In 2017, the company acquired packaged foods company Apricot Foods for $68.6 Mn. In the same year, the company launched its Too Yumm brand, a healthy snack.