TA Associates to acquire majority stake in Vee Healthtek for $250 m
TA Associates will acquire the Bengaluru- and US-based revenue cycle management (RCM) services provider Vee Healthtek for $250 million (about ₹2,100 crore), said sources aware of the development.
TA will own a significant majority stake, while the promoter — Chennai-based Valliappa family — will retain a minority stake, added sources.
Vee Healthtek, owned by South India-based Sona Group, provides a range of services, including revenue cycle management, professional billing, and IT services to hospitals, health systems, pharmaceutical companies, and physician groups globally. The company boasts a workforce of 5,000 employees worldwide, and is expected to post $100 million in revenue in FY25.
The 100-year-old Chennai-based Sona Group has presence in textiles, plantation, agriculture, construction, IT, logistics and real estate businesses. This acquisition marks TA Associates' first foray into the Revenue Cycle Management space in India and its second investment in the Indian healthcare IT sector, following its $250 million investment in Chennai-based Zifo RnD Solutions, a global provider of informatics Solutions for research-based organisations in 2022. RCM refers to the process of identifying, collecting, and managing the incoming payments.
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