Carlyle Seeks Banks for India IPO of Healthcare RCM Provider

Carlyle Group Inc. is seeking investment banks to advise on a potential initial public offering (IPO) in India for its healthcare revenue cycle management (RCM) business, according to sources familiar with the matter. The private equity firm acquired a majority stake in the RCM provider, formerly known as Healthium MedTech, in December 2023. This move signals Carlyle's intention to leverage the growing Indian healthcare market for a significant exit. The RCM sector in India has seen substantial growth, driven by increasing healthcare expenditure and the adoption of digital solutions by providers. Carlyle aims to capitalize on this trend by listing the business, which is expected to attract considerable investor interest. The IPO could be one of the larger offerings in the Indian healthcare sector in recent years, reflecting the robust performance and future prospects of the RCM services market. The selection process for the banks is underway, with pitches expected to focus on valuation, market positioning, and investor outreach strategies. The final decision on the IPO timeline and scale will depend on market conditions and regulatory approvals.