Several private equity firms are in separate discussions to acquire a controlling interest in U.S. healthcare IT services firm eMids Technologies Inc., The Economic Times of India reported, citing multiple people aware of the development.
The potential transaction could be valued between US$200 million and US$225 million. Investment bank Credit Suisse has been tapped to manage the sale process, the report noted.
The private equity suitors include Everstone Capital Asia Pte. Ltd. and ChrysCapital Advisors LLP, as well as global funds such as KKR & Co. and Baring Private Equity Asia, according to the report.
The company's promoters and current U.S.-based investors Baird Capital, Council Capital and Union Grove Venture Partners, or UGVP Management LLC, will sell their stakes in the business, the report noted.
The private investors hold a 65% stake in eMids, while the promoters own 23%, with the remainder owned by friends and employees.
The promoters are expected to own about 10% stake in the business in the potential takeover.
KKR, ChrysCapital and Everstone spokespersons did not comment on the matter. Messages sent to eMids CEO and founder Saurabh Sinha and spokespersons for Baring, Baird, Council and UGVP were not answered, according to the report.
