News Release
The Carlyle Group Acquires Significant Majority Stake in Visionary RCM
Partnership Supports the Company’s Growth and Expansion
Mumbai – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that Carlyle Growth Investments IV, an affiliate of Carlyle Asia Growth Partners V, has acquired a significant majority stake in Visionary RCM Infotech (India) Pvt. Ltd. (VRCM), the largest offshore risk adjustment and medical coding solution provider in India.
Founded in 2006, VRCM is headquartered in Chennai with five offshore delivery centers and more than 2,500 employees in India, offering services to multiple healthcare clients. VRCM offers medical coding services for risk adjustment, audit of medical records, diagnostic and procedural coding services to hospitals and physicians for filing claims with health plans, and support for revenue cycle management (RCM).
Shankar Narayanan, Managing Director and Co-Head of Carlyle Asia Growth Partners, said, “We are delighted to partner with VRCM, a company with an experienced management team, a track record of high quality, consistent services and strong client relationships. As the medical coding and RCM services market continues to grow, we believe VRCM is well-positioned to capitalize on future market opportunities. We look forward to working with Rajesh and the VRCM team to support its next phase of growth.”
Rajesh P. Surana, CEO and Founder of Visionary RCM, said, “Carlyle has deep industry expertise and an extensive network in the global healthcare and technology industry, including in the U.S. We believe VRCM will strongly benefit from the partnership with Carlyle as we continue to expand our service offerings, develop our business and explore expansion opportunities.”
Carlyle has invested more than US$1.5 billion of equity in more than 30 transactions in India as of September 30, 2017. Its recent investments in India include SBI Card and Delhivery Pvt Ltd.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $174 billion of assets under management across 306 investment vehicles as of September 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
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About Visionary RCM
Visionary RCM (VRCM) is an ISO 27001:2013, SOC 2 TYPE II HIPAA compliant, knowledge centric organization, specializing in Risk Adjustment solutions. VRCM offers business value to healthcare clients by combining operational excellence with deep domain expertise spanning across Payers & Providers.
Founded in 2006, VRCM is headquartered in Chennai (India) & offshore delivery centers at five locations in India & 100% wholly owned subsidiaries in Florida and California. VRCM began its journey with a four-member team by providing integrated Revenue Cycle Management Services to the Provider segment in the US. Over the last 9 years, VRCM has increased its headcount by more than 2,500 employees in India and have expanded core service offerings to include Risk Adjustment Programs, Audit and Quality of Care for Medicare, Medicaid and Commercial Health Plans.
Embracing a hybrid model that caters to the requirements of the global market, VRCM provides application and functional expertise located both onshore and offshore where they leverage best practices and economies of scale for the benefit of multiple clients. VRCM has highly-skilled workforce trained in a consistent client delivery approach that emphasizes value, and enables clients to focus more on their core competencies.
Media Contacts:
The Carlyle Group
Tammy Li
Phone: +852 2878 5236
Email: tammy.li@carlyle.com
Brian Zhou
Phone: +86 10 57067070
Email: brian.zhou@carlyle.com
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