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WARBURG PINCUS TO INVEST IN EVERISE AND PARTNER WITH BROOKFIELD FOR THE NEXT PHASE OF GROWTHBy PRNEWSWIRE
Published : Oct. 4, 2023 - 00:10
NEW YORK and SINGAPORE and MUMBAI, Oct. 3, 2023 /PRNewswire/ -- Everise, a leading global healthcare services outsourcing company, announced today that Warburg Pincus, a leading global growth investor, has agreed to invest in the company. Warburg Pincus joins existing investor Brookfield and both investors are committed to accelerating the growth trajectory of the company through business expansion and M&A. Warburg Pincus' investment values the company at around $1 billion.
Since its inception in 2016, Everise has evolved into an end-to-end customer experience solutions provider and one of the fastest-growing businesses in the healthcare services outsourcing space today. Headquartered in the US, with over 19,000 employees in eight markets, Everise provides customer service solutions to some of the world's leading healthcare companies. The company has attained numerous industry awards in recognition of its leadership, as well as its commitment to innovation and a people-centric culture.
As part of the transaction, Everstone Group, the Singapore-headquartered private equity firm will exit its investment in Everise.
The transaction is subject to customary regulatory approvals and is expected to close by the end of 2023.
Saurabh Agarwal, Managing Director of Warburg Pincus, said, "We are pleased to partner with Brookfield in our shared vision to elevate Everise into a next-generation global leader in the healthcare customer experience industry. Everise extends a vast array of top-tier services to its clients, including some of the world's largest healthcare organizations. We are excited about backing Everise's exceptionally experienced leadership team that has a proven track record of driving scale and profitability. With our deep network and resources across Asia and the US, we are well-positioned to help Everise gain further momentum as a leader in the industry."
Warburg Pincus has invested in healthcare for over 50 years with investments in some of the most iconic and innovative healthcare companies such as Ensemble Health Partners, Quantum Health, Alignment Healthcare, Modernizing Medicine, Qualifacts, and ParetoHealth.
Viraj Sawhney, Managing Director of Warburg Pincus, added, "Warburg Pincus has been an active investor in the global outsourced technology-enabled services space, and Everise presents an attractive platform to offer such services to the global healthcare payer and provider ecosystem. We have continued to see strong underlying demand for quality customer experience, driven by an increasing outsourcing trend across the global healthcare industry. We are excited about the growth prospect of the company and look forward to leveraging our global presence and extensive experience in both healthcare and outsourced services to help the management team accelerate growth, innovate, and drive more value for its customers."
Sudhir Agarwal, Founder and CEO of Everise, said, "I and the management team are confident that the partnership between Warburg Pincus and Brookfield will take Everise's growth to the next level. Warburg Pincus' deep domain expertise across diverse industries and next-generation technologies, coupled with the institutional knowledge of our trusted partner Brookfield, will contribute substantively to Everise's next phase of growth in offering strategic customer solutions. I would also like to thank Everstone Group for being a strong and supportive partner to Everise from its inception."
Aditya Joshi, Managing Partner at Brookfield, said: "Since our investment in Everise in 2020, the company has delivered strong organic growth following investments in technology and operations and has become a strategic partner for its customers around the world. We look forward to partnering with Warburg Pincus and the Company's management team for the next stage of the journey."
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $112 billion in over 1,000 companies in more than 40 countries. The firm has more than $83 billion in assets under management. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.
Founded in 2016, Everise is a global leader transforming customer service for healthcare, transport, logistics, insurance, financial services, and tech businesses. The Company solves problems for the millions of customers of some of the world's leading brands, by combining the best technology with compassionate service. With over 19,000 champion agents operating across eight strategic markets globally, Everise seeks to deliver happiness to customers of some of the world's best loved brands. Our customer service solutions are high-performing, secure, and agile, with fluent proficiency in 32 languages, enabling businesses to scale globally while achieving top customer satisfaction. Learn more at www.weareeverise.com.
About Brookfield Business Partners
Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Investors have flexibility to invest in our company either through Brookfield Business Corporation (NYSE, TSX: BBUC), a corporation, or Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), a limited partnership. For more information, please visit https://bbu.brookfield.com.
Brookfield Business Partners is the flagship listed vehicle of Brookfield Asset Management's Private Equity Group. Brookfield Asset Management is a leading global alternative asset manager with approximately $850 billion of assets under management.
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