- The new joint ownership will propel Omega Healthcare into its next phase of growth and development.
New Delhi, 7th January 2024 – Goldman Sachs Alternatives’ Private Equity division and Everstone Capital have entered into an agreement to sell their co-control stake in Omega Healthcare to the Ontario Teachers’ Pension Plan (Ontario Teachers’). Omega Healthcare, headquartered in the United States, is a prominent provider of revenue cycle management and clinical services to US healthcare organizations.
Omega Healthcare collaborates with healthcare clients to enhance their financial performance while delivering superior care. Through its extensive portfolio of technology-enabled and clinically-led solutions, Omega helps clients boost revenues, reduce costs, and improve patient experiences. Established in 2003, the company employs approximately 35,000 people across 14 delivery centers in the US, India, Colombia, and the Philippines.
Since 2019, under the stewardship of Goldman Sachs and Everstone, Omega has experienced significant growth, launching key value-creation initiatives that have fortified its market position and financial profile. These initiatives include substantial technology investments leading to proprietary tools, automation, and specialized expertise. Omega has expanded its global delivery capabilities and transformed into a comprehensive revenue cycle management provider, completing four strategic acquisitions to enter new market segments and enhance delivery capabilities in the US and Colombia.
Harsh Nanda, Managing Director and Head of Technology Private Equity at Goldman Sachs Alternatives, remarked: “The partnership with Everstone and the Omega team has been highly collaborative, and it’s been a privilege to witness their dedication to delivering exceptional outcomes. Ontario Teachers’ decision to join us as an investment partner is a testament to Omega’s outstanding management and vision.”
Avnish Mehra, Vice Chairman and Head of Private Equity at Everstone Capital, added: “We are proud to announce the successful sale of our co-control stake in Omega Healthcare. During our ownership, Omega underwent a remarkable transformation, strengthening its position in the healthcare services industry. The management team’s exceptional efforts and the solid business model they developed have laid a strong foundation for continued success under the new partnership.”
Anurag Mehta, Co-Founder and CEO of Omega, reflected: “The past five years with Goldman Sachs and Everstone have been an incredible journey that significantly accelerated Omega’s growth. We are excited to welcome Ontario Teachers’ into the Omega family and appreciate the continued support from our existing investors. This partnership reinforces our commitment to using our domain expertise and unique solutions to empower our clients further.”
