Press Release Summary: Omega Healthcare, a leading provider of healthcare BPO and KPO services, today announced growth plans for its Indian operations. In particular, and over the next 18-24 months, the Company will invest over $14 million to expand its Bangalore and Chennai facilities and will more than double its employee base to 3,000.
Press Release Body: Bangalore, Thursday, October 18, 2007: Omega Healthcare, a leading provider of healthcare BPO and KPO services, today announced growth plans for its Indian operations. In particular, and over the next 18-24 months, the Company will invest over $14 million to expand its Bangalore and Chennai facilities and will more than double its employee base to 3,000.
Omega is among the top BPO/KPO providers in the healthcare segment, offering medical coding and compliance, accounts receivables analysis and management, and reconciliation services. The company presently employs 1,200 associates at its two facilities. Several clients are Fortune 100 companies.
The recently inaugurated state-of-the-art facility in Bangalore houses 750 Omega associates, and the balance of its employees are located in Chennai. Both facilities are well equipped to accommodate the additional capacity.
According to Omega Healthcare Co-Founder and CEO Gopi Natarajan, "India has world class talent, and Omega is well-positioned to tap the tremendous opportunities in the healthcare BPO and KPO space. We believe Omega is leading the niche segment of the US healthcare industry known as revenue cycle management. We will continue to tap into India's vast resources and thus remain ahead of the industry curve by delivering world class business outsourcing services."
Speaking on the expansion of the Indian operations, Co-Founder and EVP Anurag Mehta said, "With over 50 U.S.-based clients, 6 of which are top 20 medical billing companies and many of which are publicly traded, we needed a high quality facility in which to effectively expand our operations. Fortunately, we are continuing to grow and are adding one or more new clients each month.
"India is an ideal venue to support our medical billing clients, who demand efficiency and quality, and we are committed to increasing our presence here", added Harold Blue, Omega Board Chairman and a Managing Partner of U.S.-based HealthEdge Investment Partners, a healthcare-focused private equity firm with an investment in Omega.
About Omega Healthcare
Omega Healthcare is one of the premier offshore providers of medical coding, billing, accounts receivable management, claims processing, and healthcare revenue management. Omega Healthcare is dedicated to providing these services for medical billing companies, hospital accounts receivable management companies, and other aggregators of physician and hospital revenue cycle business in the United States.
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