Hinduja Global to divest healthcare services biz to Baring PE Asia for $1.2bn

Hinduja Global Solutions (HGS), the business process management arm of the multibillion-dollar Hinduja Group conglomerate, said it has entered into a definitive agreement to divest its healthcare services business to funds affiliated with Baring Private Equity Asia for an enterprise value of $1.2bn

Partha DeSarkar, global CEO, HGS, said in a stock market disclosure that it will use the funds from the divestment to strategically invest for the future growth.

It will continue to focus on aggressively expanding its consumer engagement solutions (CES) and digital businesses in line with its aim to transform itself into a digitally-enabled customer experience company, he added.

Post the completion of the transaction, HGS will transfer all client contracts, employees, and assets, including infrastructure related to the healthcare services business to Baring Private Equity Asia.

HGS’ healthcare services business, which caters to payer, providers, laboratories, durable medical equipment firms and pharmaceutical companies, clocked revenue of $400m in fiscal 2020-21. The business has more than 20,000 employees across four geographies — India, the Philippines, the US and Jamaica.