| Apollo's healthcare BPO buys AFS, US for $31 mn |
| BS Reporter / Hyderabad August 28, 2006 |
| Apollo Health Street, the healthcare-focussed BPO unit of the Apollo Group, has announced the acquisition of US-based Armanti Financial Services (AFS) for $31 million. The acquisition has been funded through internal accruals, debt and equity. The consideration included a direct cash payment besides earn-outs based on achievement of milestones over three years. Company officials declined to give the breakup. AFS is among the leading hospital billing and receivables management companies in the US. Around 90% of Apollo Health Street |
