Omega Healthcare to invest $14 mn

Omega Healthcare, a provider of healthcare BPO and KPO services, will invest $14 million to expand its Bangalore and Chennai centres in the next 18 months.

According to senior representatives of the privately-held company, it will fund the expansion through internal accruals. The company offers medical coding and compliance, accounts receivables analysis and, management and reconciliation services.

The company was launched early 2004 as a joint venture between Manipal Enterprises and US-based Sonix Medical Resources. In November 2006, Manipal Enterprises and Sonix Medical Resources exited the joint venture when their share was bought over by Health Edge Investment Partners, a US-based private equity firm, along with a key management.

The expansion includes ramping up of the staff strength. The company's headcount, which stands at 1,200 between the two centres, will increase to 3,000 over the next 18-24 months.

The Bangalore centre houses 750 employees while the rest are deployed at the Chennai centre. Both these centres are being equipped to take on the additional capacity of 1,800 employees to be added in the near future.

Gopi Natarajan, co-founder and CEO, Omega Healthcare, said, "India is well poised to tap the tremendous opportunities in the healthcare BPO and KPO space. Omega will tap India's vast resources to deliver outsourcing services."

Anurag Mehta, executive vice-president, Omega Healthcare, said, "We are growing at a healthy rate and adding about 1 new client per month to our portfolio. With 55 US clients, seven of whom are publicly traded companies, and six of the top 20 medical billing companies, we are expanding our operations in Bangalore to ensure smooth and efficient processes."