MediGain to up head count in India

India and Sri Lanka will be the major international markets in which the firm is looking to expand.

U.S.-based MediGain LLC plans to increase headcount in India by five times to 1,500 employees by 2016.

The firm provides revenue cycle management, medical billing and reimbursement services to physicians offices, ambulatory surgery centers and hospitals across the U.S. healthcare industry.

Funding

In October, the firm raised $38 million from Prudential Capital Group.

“India is central to MediGain’s future growth strategy. A good amount of this funding will be utilised to strengthen our Indian operations in Chennai,” said MediGain Chairman Dinesh Butani said.

Through the funds, MediGain also acquired another U.S. revenue cycle management firm Millennium Practice Management Associates earlier this week for an undisclosed sum.

MediGain does not share its revenues, but said it had grown tenfold over the past four years.

At present, the firm’s total headcount stands at 1,000 — with 400 employees in the U.S., 300 in Chennai and 300 in Colombo.

“We continue to build out and target to have between 2,000 and 3,000 employees by end 2016,” said Mr. Dinesh Butani. India and Sri Lanka would be the major international markets in which the firm is looking to expand.