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Sagility India Ltd, an Indian technology services provider controlled by Swedish buyout firm EQT, has acquired US-based BroadPath Healthcare Solutions for Rs 502 crore ($58 million) in cash.
The acquisition of the US healthcare-focused services company is part of Sagility’s strategy to diversify its client base and add new capabilities to its services portfolio, the Mumbai-listed company said in a filing to stock exchanges.
The deal will not only add more than 30 new clients for Sagility but also provide it the opportunity to cross-sell its broad service offerings to several mid-market clients, the company said.
Founded in 2008, BroadPath operates a work-from-home delivery model with over 1,600 employees located across the US and Philippines. Its service portfolio includes member engagement, member acquisition, claims and appeals administration, provider enrollment and credentialing. BroadPath’s proprietary Bhive platform improves employee engagement and optimizes operating metrics in a work-from-home model, the company says.
According to Sagility, the BroadPath acquisition will also boost its earnings per share. It added that acquiring Broadpath, which clocked revenue of $70 million in 2024, at less than 1x its EV/revenue, will drive shareholder value.
Sagility, a healthcare-focused business process management services provider, supports payers, providers, and their partners in streamlining their finances.
The company serves major clients in the US to help them minimize additional administrative costs. The company has over 38,000 employees across five global service delivery centres located in the US, India, the Philippines, Jamaica, and Colombia.
In FY24, Sagility posted consolidated net revenue of Rs 4,753 crore and a net profit of Rs 228 crore, according to VCCEdge, up from Rs 4,218 crore and Rs 143 crore in FY23, respectively.
Sagility was earlier known as HGS Healthcare and was part of Mumbai-listed Hinduja Global Solutions. Baring PE Asia acquired HGS Healthcare in August 2021 for $1.2 billion and renamed it Sagility the following year. EQT took over Baring PE Asia in 2022.
Sagility listed on stock exchanges last year. EQT sold part of its stake in the company in November 2024 to the likes of Avendus, Adani Properties, and 360 ONE, in the run-up to the IPO.