ChrysCap, Everstone in talks to buy health IT company eMids

BENGALURU: Private equity majors

ChrysCapital

and

Everstone Capital

are in the fray to acquire a majority stake in healthcare technology firm

eMids

at a valuation of $200-250 million, said three sources familiar with the development.


Baring Private Equity Asia is also in talks to acquire the 20-year-old company, founded by former Wipro executive Saurabh Sinha, said two of these sources, adding that Credit Suisse is advising the company on the deal.

Sinha, who owns around 25% stake in the company, is expected to stay in the company after the deal. eMids also has several individual investors, while it raised $13 million in funding from US-based investment firms Baird Capital and Council Capital in 2013. eMids is currently doing about $80-90 million in revenues, said the sources mentioned above. Queries sent to ChrysCapital, Emids, Everstone and Baring Asia did not elicit a response till the time of going to press.

eMids caters to payers and providers, bridging gaps in the healthcare system through data and analytics at the centre of its tech platform.

Founded in 1999, the company is headquartered in Nashville with operations in Bengaluru. Its proprietary claim system has touched 50 million people and has over 2 million transactions on its platforms daily. eMids competes with CitiusTech, which is being acquired by Baring Asia, besides Nordic, Acclaris, and Spectraforce.


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