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January 27, 2013

Deal Alert: Nirvana joins Bessemer in acquiring healthcare IT firm HealthSprint

Bessemer Venture Partners has been joined by Nirvana Venture Advisors to acquire Bangalore-based healthcare IT services company HealthSprint. The investors acquired the founders' stake and inducted a new management team to spearhead the six-year-old company providing healthcare payment network, health insurance applications and transferring patient relevant data for authorization. 

Bessemer and Nirvana, co-founded and sponsored by members of the Patni family, have brought on board former senior Wipro and Schneider Electric executive Anand Iyer as the new HealthSprint CEO. 

From the Deal Digest archive (Dec 30, 2011): Net Logistics Pvt Ltd has acquired a controlling stake in Health Sprint Networks Private Limited, a Bangalore-based healthcare IT services company founded in May 2006. HealthSprint customers include healthcare providers such as Fortis and Manipal and payers such as TTK, MediAssist and ICICI Lombard. Net Logistics is promoted by Vikramjit Singh Chhatwal and Madhavan Balasubraminian, who are also senior management team members and directors of Bangalore-based third party administrator (TPA) services firm Medi Assist India TPA.In October 2011, Bessemer Venture Partners had invested in Medi Assist India TPA. Vishal Gupta of Bessemer had joined the board of Health Sprint Networks as well. 

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