Carlyle Group Inc. has invited pitches from investment banks to advise on a potential India initial public offering of its recently acquired healthcare billing service business, according to people familiar with the matter.
Banker presentations are taking place this week, and the private equity firm is expected to soon appoint advisers for the revenue cycle management platform formed through the merger of Knack RCM and EqualizeRCM, which it acquired last month, the people said, asking not to be identified because the discussions are private.
Details of the proposed share sale, including its size and valuation, have yet to be determined, the people said. A representative for Carlyle declined to comment.
Healthcare remains a rare bright spot in India's IPO market despite a broader listings slowdown and a more than 10% decline in the Nifty 50 this year, with hospital operators including Manipal Health Enterprises Ltd. and General Atlantic-backed ASG Hospital Pvt. planning share sales.
Knack RCM, a Woodbridge, New Jersey-based provider of revenue cycle management services, employs more than 8,000 people across 10 delivery centers in India, the Philippines and the US, supporting healthcare clients across clinical, financial and technology functions, according to Carlyle.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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