Everise, Warburg Pincus formally seal $1Bn pact
NEW YORK, UNITED STATES, SINGAPORE, SINGAPORE and MUMBAI, INDIA — Private equity Warburg Pincus, joined by Brookfield Asset Management Inc. (Brookfield), has officially completed its $1 billion investment to healthcare services outsourcing firm Everise.
The agreement – announced in October – aims to boost the three companies’ growth through expansion, mergers and acquisitions, and new service offerings. Also, through Warburg Pincus, Everise will broaden its footprint across Asia and the U.S. In 2020, Brookfield bought Everise from Everstone Capital.
“With the support of Warburg Pincus’ and Brookfield’s combined expertise and resources, Everise is pushing ahead with an accelerated growth trajectory,” Everise Founder and chief Executive Officer Sudhir Agarwal said.
“We plan to move up the healthcare value chain, extending our end-to-end service experience to more industry segments, and identifying new markets to grow our global footprint and workforce.”
The three firms aim to redefine the healthcare industry amid a rapidly aging global population. According to the World Health Organization (WHO), 80% of older people will be living in low- and middle-income countries by 2050. In 2020, the number of people aged 60 years and older outnumbered children younger than 5 years.
WHO also noted that between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%. People aged 80 years or older are expected to triple between 2020 and 2050 to reach 426 million.
