GeBBS expands nearshore with CCD Health acquisition
CALIFORNIA, UNITED STATES — GeBBS Healthcare Solutions (GeBBS), a provider of revenue cycle management (RCM) solutions, has acquired CCD Health, a Dominican Republic-based patient experience services company.
GeBBS boosts nearshore capabilities
The acquisition allows GeBBS to expand its nearshore capabilities and bolster its RCM services with bilingual support.
The deal is part of GeBBS’s growth strategy, which is backed by private equity firm ChrysCapital.
Through the deal, CCD Health clients will gain access to GeBBS’ end-to-end RCM services, workflow automation tools, and a considerable presence across the revenue cycle.
“CCD’s remarkable growth trajectory and partnership with leading healthcare providers makes them an ideal ally. The partnership promises immediate benefits, as CCD clients will gain access to GeBBS’ vast operational know-how, tech-driven solutions, scalability, and adaptable resourcing,” said Milind Godbole, CEO and Managing Director of GeBBS Healthcare Solutions.
Founded in 2011, CCD Health employs over 1,200 staff and has developed proprietary AI tools to optimize the patient access experience.
Its Pax AI division’s copilot solutions help reduce errors and drive high patient satisfaction for appointment scheduling and other services.
ChrysCapital eyeing GeBBS sale
The acquisition comes amid reports that ChrysCapital is looking to sell GeBBS at a valuation of around $1 billion.
The investment firm had acquired an 80% stake in GeBBS in 2018 for $140 million, valuing the company at $175 million at that time.
A report by The Economic Times revealed that ChrysCapital has been talking to investment banks to gauge interest from potential buyers, including other private equity funds and key players in the healthcare RCM segment.
ChrysCapital has tapped U.S. investment bank and capital markets firm Jefferies to run the sale process to global funds.
GeBBS has grown rapidly under ChrysCapital through a combination of organic growth and strategic acquisitions.
In 2023, Modern Healthcare ranked it among the top 20 largest RCM firms, and it has won other accolades for its medical coding and billing solutions.
