Former Infosys BPO head Asheesh Mehra’s entrepreneurial venture Antworks has acquired the US-based Benchmark Systems, a healthcare applications services provider.
In an all-cash deal the acquisition is estimated at about $5 Mn (INR 33 Cr).
Antworks was founded in June this year with a vision to provide technical and business process solutions to clients in the healthcare and financial services verticals.
The newly formed Singapore-based company had announced its plans to acquire two firms in the US to expand its healthcare platform.
Asheesh Mehra who earlier headed Infosys Technologies’ BPO operations in the Asia Pacific, Japan and Middle East regions, said, “This acquisition helps us make deep inroads into doctors’ practices and ambulatory care, as well as gives us an onshore delivery centre.”
According to Asheesh, AntWorks went through an extensive list of about 25 companies for acquisition but zeroed on Benchmark because of its highly scalable, cloud-based solutions which the company has developed for growth in terms of talent, clients, geographic footprint and offerings.
The US-based Benchmark Systems is a healthcare cloud-based application services provider that offers a fully-integrated suite of technology solutions including patient portal, scheduling, electronic health records, practice management and revenue cycle management.
AntWork is expecting that Benchmark Systems will add about $10-$12 Mn to its top-line in a year, targeting overall revenue in between $15-$17 Mn by October 2016.
Co-founded along with former TCS and WNS senior executive, Govind Sandhu, Antworks has already set up a 110-seater centre in Pune and is scouting for sustainable locations across the country.
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