AntWorks, the business process management and technology startup founded by former vice president of Infosys BPO Asheesh Mehra, has acquired US-based Benchmark Systems has acquired US-based Benchmark Systems, a healthcare applications services provider, in an all-cash deal, estimated at about Rs 33 crore.
The acquisition will help AntWorks enhance its presence in the global healthcare solutions sector. It is the first acquisition of the firm in its four months of operations. The company will be announcing its second acquisition in the healthcare segment by December this year, it said.
Singapore-based AntWorks was formed in 2015 by Mehra and former TCS executive Govind Sandhu, who serves as CFO. The company has a presence in multiple countries with its offices in the US, Philippines, Qatar, London, India and Singapore. It has delivery capability out of Pune, India and Virginia, the US with 300 healthcare and financial services professionals on board. It had a seed capital of $8 million raised from the two founders and a few well-wishers in June, which is being used to fund the two acquisitions.
“AntWorks will now be able to offer a fully integrated suite of technology solutions including electronic health records, practice management and revenue cycle management at a price point that is affordable to solo physicians and large group practices,” said Mehra.
AntWorks, which was founded with seed capital of $8 million, offers end-to-end services to major hospital chains, insurance providers as well as speciality clinics in the healthcare domain. In the financial services side, it caters to medium and small financial institutions such as agricultural banks, mortgage providers and refinancing institutions. Antworks has already set up a 110-seater centre in Pune and is scouting for sustainable locations across the country.