Rediff India Abroad
 Rediff India Abroad Home  |  All the sections

Search:



The Web

India Abroad




Newsletters
Sign up today!

Mobile Downloads
Text 67333
Article Tools
Email this article
Top emailed links
Print this article
Contact the editors
Discuss this article


Home > Business > Business Headline > Report


Firstsource buys US firm BPM for $30 million

BS Reporter in Mumbai | January 05, 2007 11:03 IST

Firstsource Solutions (formerly ICICI OneSource), a business process outsourcing company, on Thursday acquired BPM - a Delaware-based healthcare claims' outsourcing company.

The acquisition, estimated to be around $30 million according to market sources, includes BPM's two wholly owned subsidiaries - MedPlans 2000 and MedPlans Partners.

The acquisition is expected to allow Firstsource to penetrate the healthcare vertical with capabilities in complex claims' adjudication. Firstsource will now offer clients database management, policy administration, claims processing and complex claims adjudication
capabilities.

Ananda Mukerji, managing director & CEO, Firstsource, said, "The healthcare vertical is one of our three focus verticals and represents a high growth area. This acquisition gives us enhanced capabilities in claims adjudication, that is complimentary to our current capabilities. We also acquire marquee customers, which provide a good opportunity to cross-sell. We were impressed with the quality of the operation and the management team which was instrumental in shaping our decision."

The company, by virtue of this acquisition, has also acquired a client portfolio that includes six Fortune 1000 companies and adds three centres in Rockford, Illinois; Fort Scott, Kansas and Louisville, Kentucky to its current 17 delivery centres globally.

Firstsource announced that Tony Pino would be executive vice-president of healthcare at Firstsource and there would be no change in the management structure of MedPlans Partners. Over 300 employees would continue with their current jobs.

With this acquisition, the US headcount has risen to 800.

Powered by

Share your comments


Advertisement