Some good news in the start-up ecosystem with Sequoia India and Saama Capital expected to get approximately 10X returns from the sale of SCIOInspire to EXL services, according to newspaper reports. The two had invested in SCIOInspire over a decade ago. Sequoia had led the $10 million funding round for SCIO in 2007 and Saama Capital, which was then called SVB Capital Partners, also participated along with Health Enterprise Partners.
Operations management and analytics firm EXL has acquired SCIOInspire Holdings, a health analytics solution and services firm, for about $240 million. EXL has significant presence in Asia primarily in India and the Philippines. The acquisition will strengthen the company’s capability in the cost and care optimization markets. The acquisition is expected to close in the next three months. EXL will fund the purchase with internal cash and borrowing from its credit facility.
SCIO is a Connecticut-based leading healthcare analytics solution and services company. It serves over 100 healthcare organisations and has more than 1,100 professionals in locations across the US, the UK and India.