Sutherland buys outsourcing company Apollo Health Street

BANGALORE Tue Dec 11, 2012 11:17am IST

Related Topics

Stocks

   

BANGALORE (Reuters) - Sutherland Global Services, a U.S.-based technology and back office outsourcing services provider, has agreed to acquire the healthcare outsourcing arm of Apollo Hospitals Enterprise Ltd (APLH.NS), the companies said on Tuesday.

The financial details of the deal were not disclosed, but a person with direct knowledge of the transaction said Sutherland will buy all of Apollo Health Street shares for 10 billion rupees.

Sutherland, which employs more than 30,000 people and has facilities in countries including India and the Philippines, will get access to Apollo Health Street's over 150 customers after the closure of the deal by February, the statement said.

The deal will add 3,200 employees to Sutherland's headcount, said Dilip Vellodi, chief executive of Sutherland, adding the company is targeting $900 million in revenue in 2013 and a growth of 20 percent a year will be maintained.

Barclays (BARC.L) and Kotak Investment Bank advised Apollo Health Street, while Sutherland had hired local boutique Spark Capital Advisors for the transaction. (Reporting by Harichandan Arakali; Editing by Anand Basu)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage