Mumbai: Back-office Company Firstsource Solutions Ltd has adopted U.S.-based MedAssist, a leading provider of revenue cycle management in the healthcare industry for $330 million.

There would be no alteration in the organization of MedAssist and all 1,400 employees would carry on their existing duties, Firstsource said..

Kentucky-based MedAssist offers Receiveables Managemant Services, Eligibility Services, Post-default Collections services for healthcare providers. The company has more than 1,000 clients comprising hospitals, big physician groups and alternate site providers.

For the year ended December 31, 2006, MedAssist’s earnings stood at $99 million.

Ananda Mukerji, Firstsource’s MD and CEO said Firstsource’s U.S. arm will lift up $275 million through debt for the recent transaction whereas the balancing amount will be amassed through internal accruements.

"Firstsource already has a significant presence in the payor side of the market. This acquisition gives us access to the equally large provider side. We see significant opportunity to grow our business in the segment by cross-selling Firstsource's services to MedAssist's customers," Mr. Mukerji added.

Firstsource provides back-to-back services that consist of policy management, claims processing, mail and document management services, claims pricing, claims adjudication and adjustment and healthcare provider database maintenance.

Its major intensities in the healthcare segment are end-to-end services, proprietary platforms and deep domain expertise.