Neither company has disclosed the financial details of the transaction, but industry analysts in India say the deal could be worth between US$20 million and US$25 million.
The reason for Access Healthcare to consider the acquisition was Pacific BPO’s hospital in-patient revenue cycle management capabilities, according to analysts.
All 2,100 employees of Pacific BPO will join Access, with Pacific CEO Kumar Shwetabh agreeing to lead the American company’s foray into hospital revenue cycle services, an area of increasing importance amid cost constraints and rising expectations to demonstrate improved outcomes.
Access Healthcare has grown its workforce to over 11,000 people and around 1,000 automated agents, operating from 19 delivery centers across the United States, India, and the Philippines.
“We have also created one of the most advanced healthcare automation platforms with robotic processing and machine learning capabilities,” says Vardhman Jain, Vice Chairman of Access Healthcare.
The company supports over 250,000 physicians, serves over 80 specialties, and processes over US$50 billion in accounts receivable annually.
“With the addition of hospital inpatient revenue cycle management capabilities that Pacific BPO brings, we have significantly increased the breadth of healthcare customers in our portfolio,” Jain added.
Following the closure of the transaction, Access says it will launch two new delivery centers in India and one in the United States.