Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
MedAssist Holding, Inc.
Sale to Firstsource Solutions Ltd.
Robert W. Baird & Co. served as financial advisor to MedAssist on this transaction.
RoundTable Healthcare Partners has completed the sale of its portfolio company, MedAssist Holding, Inc. (“MedAssist”), to an affiliate of Firstsource Solutions Ltd. (NSE: FSL.NS, BSE: FSL.BO). The all-cash deal is valued at $330 million.
Headquartered in Louisville, KY, MedAssist is a leading provider of revenue cycle management services to the healthcare industry. MedAssist’s full range of services includes Eligibility Services, Receivables Management Services and Collections Services. The Company has over 1,000 clients including hospitals, large physician groups and alternate site providers.
Firstsource Solutions Limited (“Firstsource”) is among India’s leading BPO (business process outsourcing) service providers. Firstsource provides customized business process management to global leaders in the Banking & Financial Services, Telecom & Media and Healthcare sectors. Firstsource has a global delivery model with operations in India, US, UK, Argentina and Philippines.
RoundTable Healthcare Partners (“RoundTable”), headquartered in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable currently manages $1.1 billion in capital, including two equity funds totaling $900 million and a subordinated debt fund of $200 million.