India-focused private equity player ChrysCapital has turned its attention to the US through an investment in healthcare revenue cycle management business GeBBS Healthcare Solutions.
The firm specialises in backing Indian businesses in sectors including FinTech, business services, healthcare, life sciences and consumer.
GeBBS, which was founded in 2005, provides cost-containment software which attempts to help businesses improve financial performance and compliance as well as patient satisfaction
ChrysCapital partner Sanjay Kukreja said, “ChrysCapital has a long tradition of successful partnerships with entrepreneurs, supporting their growth and expansion in a collaborative manner.
“We are excited to partner with Nitin, Milind and the existing management team to build the world’s leading healthcare business services company.
“With access to decades of experience with IT and BPO companies, ChrysCapital is confident that its investment in GeBBS will help differentiate the company and significantly accelerate its growth trajectory.”
ChrysCapital secured a $600m-plus final close of its seventh fund last year thanks to backing from LPs including Singapore sovereign wealth player GIC.
Asia Alternatives and Harvard Management Company also committed capital to the fund according to several Indian media reports.