Perot Systems to acquire Vision

Stanley Glancy / Mumbai

Vision Healthsource India, a Chennai-based IT-enabled services company focusing solely on the lucrative US healthcare industry has announced that it will be acquired by the US-based Perot Systems, a leading provider of billing and claims solutions for healthcare service providers in the US. Healthcare accounted for more than 45 percent of Perot’s revenues of $1.3 billion in 2002. According to the terms of the agreement, Perot will acquire Vision for an aggregate value of up to $10 million—$3 million in cash at closing and an additional $7 million if certain performance targets are met by 2006.

Said Anurag Jain, founder and CEO of Vision Healthsource, “We have a client base of more than 25 US-based healthcare billing companies, and we also handle more than $1 billion in healthcare provider claims per year. But our brand was not strong in all the verticals of healthcare in the US. For developing expertise in such areas we felt the need to partner with someone. Perot has a strong presence in the insurance and hospital management verticals.” Currently, Vision executes transaction processing for receivables for more than 2,000 physicians spread across 45 states in the US. While Vision also brings its offshore capability to the table, Perot will contribute in terms of onshore capabilities and financial capital. Vision’s approximately 500 employees will become a part of Perot Systems’ healthcare group.

The companies will continue targeting the insurance and hospital management verticals under the Perot brand name, while the billing and physicians receivable management will be catered to with the Vision brand name. Both the companies will now look at offering an end-to-end healthcare package to existing clientele. Other than this the companies will also be looking at building expertise within new and upcoming verticals in the healthcare industry.