Carlyle Eyes India IPO for Healthcare Billing Unit

Carlyle Group is reportedly in the early stages of discussing a potential initial public offering (IPO) in India for its healthcare billing venture. Investment banks have been invited to pitch for advisory roles, with Carlyle expected to appoint advisers shortly. This move concerns the revenue cycle management platform created by merging Knack RCM and EqualizeRCM, businesses acquired by the private equity firm last month. The specific size and valuation of the proposed share sale have not yet been determined. Despite a broader slowdown in India's IPO market, the healthcare sector remains a resilient area, with other companies also planning share sales.

Knack RCM, based in Woodbridge, New Jersey, is a provider of revenue cycle management services. This business employs over 8,000 individuals across delivery centers located in India, the Philippines, and the United States. It offers support to healthcare clients across clinical, financial, and technology functions. The discussions around a potential IPO signal continued interest in Indian public markets for the healthcare sector.