Press Release

Hinduja Global Solutions concludes sale of its healthcare services business for US$ 1.2 Bn (approx. INR. 8,940 Cr) to BPEA


  • Announces an interim/ special dividend of Rs. 150/share and a 1:1 bonus, subject to necessary approvals
  • Funds generated from the divestment to be strategically invested in building HGS’ technology capabilities

Bangalore, India, January 6, 2022: The Hinduja Group’s business process management entity, Hinduja Global Solutions Limited (HGS) (Listed on NSE & BSE, India), announced today that it has completed the sale of its healthcare services business to wholly-owned subsidiaries of Betaine BV (‘Buyer’), funds affiliated with Baring Private Equity Asia (BPEA), one of the largest private alternative investment firms in Asia. The transaction was based on an enterprise value of US$ 1,200 million, subject to closing adjustments, and resulted in inflows of US$ 1,088 million.

As part of the divestment, HGS has transferred all client contracts and assets, including infrastructure related to the healthcare services business, to the Buyer. Over 29,000 employees from HGS across four geographies – the US, India, Jamaica, and the Philippines – will join the new organization, effective January 6, 2022.

As part of the Transition Services Agreement, the new healthcare organization will operate under the name “HGS Healthcare” for a period of up to 12 months from closing.

Explaining the strategic thought behind the deal, Y.M. Kale, Chairman, Hinduja Global Solutions, stated, “This divestiture helps HGS unlock value and makes the capital available to grow the business of all the other verticals and divisions. It is the right time to refresh HGS’ value proposition and evolve as a comprehensive digital and CX services partner to clients.”

Chairman Kale further added, “Completion of the transaction unlocks significant value for the shareholders and is a recognition of the path-breaking work that HGS has been doing in the last two decades in building its domain capabilities. The Board has approved an interim/ special dividend of Rs. 150/share and a bonus issue of 1 share for every share held, subject to necessary approvals.”

Partha DeSarkar, HGS Global CEO, said “HGS will now pivot to building its Digital Customer Experience Transformation Practice, focusing on the triple A’s of Automation, Analytics, and Artificial Intelligence, to create industry-specific solutions for the top global brands that HGS services. The acquisition of required talent for the above sectors is being planned. In the last two years, HGS has significantly expanded its footprint in the UK.

HGS recently unveiled a new brand identity aligned with its vision to be a digitally-led customer experience (CX) transformation organization. This new brand identity represents HGS’ focus on continually creating more satisfying customer experiences, stronger employee engagement, and more rewarding investor outcomes.

HGS will use the funds generated from the divestment to strategically invest in building its technology capabilities for the future growth of the organization. HGS has been working with its Board to chart this new path of technology leadership. HGS is also exploring several acquisition candidates for the inorganic growth of its business.”

HGS’ Board of Directors in its meeting on January 6, 2022, has also declared:

(a) third interim dividend of Rs. 150/share in the nature of special dividend; and
(b) Recommendation of issue of new Equity Bonus Shares in the proportion of 1 Equity Share of Rs 10/- each for every 1 Equity Share of Rs 10/- each, subject to the approval of the shareholders and other statutory and regulatory approvals, as may be necessary.

Post completion of the transaction, HGS will have around 18,800 employees and 34 delivery centers in the US, Canada, UK, Jamaica, Philippines, and India. The company’s revenue run rate for Q4 FY2022 post divestment would be approximately US$105-US$110 million per quarter.

About Hinduja Global Solutions (HGS):

A global leader in optimizing the customer experience lifecycle, digital transformation, and business process management, HGS is helping its clients become more competitive every day. HGS combines automation, analytics, and artificial intelligence with deep domain expertise focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. Part of the multi-billion-dollar conglomerate Hinduja Group, HGS takes a “globally local” approach. Post the Healthcare divestment, HGS will have around 18,800 employees across 34 delivery centers in six countries, making a difference to some of the world’s leading brands across verticals. For the year ended March 31, 2021, HGS had revenues of Rs. 55,889 million (US$ 753.9 million).

Visit to learn how HGS transforms customer experiences and builds businesses for the future.

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Thanuja B M
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