Avendus advises Visionary RCM on the sale of significant majority stake to Carlyle

22nd December 2017 | Mumbai | Investment Banking

Visionary RCM Infotech (India) Pvt. Ltd (“VRCM’), the largest offshore risk adjustment and medical coding solution provider, today announced the completion of the sale of a significant majority stake to Carlyle Growth Investments IV, an affiliate of Carlyle Asia Growth Partners V (“Carlyle”). The terms of the transaction were not disclosed.

Avendus was one of the strategic and financial advisors to VRCM.

Founded in 2006, VRCM is headquartered in Chennai with five offshore delivery centers and more than 2,500 employees in India, offering services to multiple healthcare clients. VRCM offers medical coding services for risk adjustment, audit of medical records, diagnostic and procedural coding services to hospitals and physicians for filing claims with health plans, and support for revenue cycle management (RCM).

Rajesh P. Surana, CEO and Founder of Visionary RCM, said, “Carlyle has deep industry expertise and an extensive network in the global healthcare and technology industry, including in the U.S. We believe VRCM will strongly benefit from the partnership with Carlyle as we continue to expand our service offerings, develop our business and explore expansion opportunities.”

Shankar Narayanan, Managing Director and Co-Head of Carlyle Asia Growth Partners, said, “We are delighted to partner with VRCM, a company with an experienced management team, a track record of high quality, consistent services and strong client relationships. As the medical coding and RCM services market continues to grow, we believe VRCM is well-positioned to capitalize on future market opportunities. We look forward to working with Rajesh and the VRCM team to support its next phase of growth.”

Amit Singh, Executive Director, Head IT and Co Head Outsourcing Group, said, “VRCM is an exceptional story of growth and execution. A combination of factors are coming together to fuel its growth in the future as well. With the US healthcare market shifting from ‘Fee For Service’ to a value based care model, risk adjustment is going to become an even more critical component. The strong thought leadership of VRCM also enables it to tap into opportunities emerging from the increasing proportion of the Medicare advantage population in the overall Medicare member market. With Carlyle’s global reach and expertise, we expect VRCM to scale even more rapidly.”

About Avendus Capital Pvt. Ltd. (“Avendus Capital”)

The Avendus Group (Avendus) is a leading provider of financial services with an emphasis on customized solutions in the areas of Financial Advisory, Wealth Management, Structured Credit Solutions and Alternative Assets Management. Avendus relies on its extensive experience, in-depth domain understanding and knowledge of the regulatory environment, to offer customized solutions that enable clients to meet their strategic aspirations. Avendus Capital has consistently been ranked among the leading financial advisors by overall number of deals. It has a strong track record of cross-border transactions and has helped multiple clients benefit from opportunities across geographies. Avendus’ wide range of clients is testimony to its ability to serve its corporate clients throughout their life cycle – from growth stage funding to complex, large sized transactions later in the cycle.

Avendus Capital Inc. and Avendus Capital (UK) Pvt. Ltd. located in New York and London respectively are wholly owned subsidiaries offering M&A and Private Equity syndication services to clients in the respective regions.

For more information, please visit www.avendus.com

About Visionary RCM

Visionary RCM (VRCM) is an ISO 27001:2013, SOC 2 TYPE II HIPAA compliant, knowledge centric organization, specializing in Risk Adjustment solutions. VRCM offers business value to healthcare clients by combining operational excellence with deep domain expertise spanning across Payers & Providers.

Founded in 2006, VRCM is headquartered in Chennai (India) & offshore delivery centers at five locations in India & 100% wholly owned subsidiaries in Florida and California. VRCM began its journey with a fourmember team by providing integrated Revenue Cycle Management Services to the Provider segment in the US. Over the last 9 years, VRCM has increased its headcount by more than 2,500 employees in India and have expanded core service offerings to include Risk Adjustment Programs, Audit and Quality of Care for Medicare, Medicaid and Commercial Health Plans.

Embracing a hybrid model that caters to the requirements of the global market, VRCM provides application and functional expertise located both onshore and offshore where they leverage best practices and economies of scale for the benefit of multiple clients. VRCM has highly-skilled workforce trained in a consistent client delivery approach that emphasizes value, and enables clients to focus more on their core competencies.


About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $174 billion of assets under management across 306 investment vehicles as of September 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.


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