Business process outsourcing (BPO) firm Hinduja Global Solutions Ltd (HGS) has acquired 89.9 per cent stake in US-based sales automation and CRM solutions provider to health insurance sector Colibrium, for an undisclosed amount, the company said in a stock market disclosure.
HGS through its US arm HGS Colibrium Inc has acquired majority stake in Colibrium Partners LLC and group firm Colibrium Direct LLC. The remaining 10.1 per cent stake will continue to be held by the founders of the company.
Founded in 2005, Colibrium is headquartered in Atlanta, GA. The firm provides software products for the health insurance industry.
Colibrium Partners LLC provides health insurance software products and services like tuo sales and marketing, an end-to-end sales and service solution; tuo dynamics customer relationship management platform and tuo wellness and health insurance plan automation solution. Colibrium Direct LLC offers telesales support for health plans.
For the year ended December 31, 2014, Colibrium reported revenues of $12.6 million.
“With more than 30 clients, a technology platform and several hundred licensed health insurance agents, this investment in the health insurance market represents a competitive advantage for HGS,” said Partha DeSarkar, CEO, HGS.
“Colibrium brings sales and marketing capabilities and depth to provide health insurance companies comprehensive people, process and technology solutions to improve member acquisition and retention results,” said Ramesh Gopalan, executive vice president of HGS Healthcare Services.
Mumbai-based HGS, a part of the multi-billion-dollar conglomerate Hinduja Group, provides outsourcing solutions including back office processing, contact centre services and customised ITeS solutions to its global clientele comprising several Fortune 500 companies.
In 2012, the company acquired healthcare revenue cycle outsourcing business EBOS (Extended Business Office Solutions) from Deloitte Consulting LLP and Deloitte Consulting Extended Business Services LLC.
(Edited by Joby Puthuparampil Johnson)