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This is an archive article published on May 22, 2010

Avantha Group acquires Pyramid Healthcare Solutions

Avantha Group announced that it has entered into a definitive agreement with US (Florida) based Pyramid Healthcare Solutions

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Avantha Group announced that it has entered into a definitive agreement with US (Florida) based Pyramid Healthcare Solutions (PHS) under which it has acquired 100 % stake in the company. The enterprise value of PHS is approximately US $20million of which US $14.5million has been paid upfront and the balance will be paid after two years. Manoj Malhotra,CEO of Avantha Group’s IT & ITeS company- Salient Business Solutions will have additional responsibility as President of Pyramid Healthcare Solutions.

Gautam Thapar,Chairman & CEO,Avantha Group said,“Avantha Group has an established presence in the IT & ITeS space in the US. This strategic acquisition will strengthen our global presence in the niche healthcare solutions sector.”

The Pyramid acquisition will help the company mark its front end presence and leverage Pyramid Healthcare Solutions brand and relationships and provide a key platform to scale-up domain expertise in the US healthcare market. It will also help offer customers cost-effective end- to- end Revenue Cycle Management (RCM) services enabling hospitals to streamline patient billing and collection processes.

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