Mumbai: True North Private Equity via its alternative investment platform, the Credit Opportunities Fund I, has entered into definitive agreements to invest Rs 150 crore in ACN Healthcare RCM, a leading Revenue Cycle Management (RCM) solutions provider with operations in India and a global client base.
According to a release, ACN Healthcare has demonstrated robust growth of over 68% CAGR over the last three years. The funds will be utilised towards growth and expansion of ACN Healthcare’s service portfolio, pursue strategic initiatives, and establish new delivery facilities, strengthening its ability to serve global healthcare providers.
Wodehouse Capital Advisors acted as the exclusive financial advisor to ACN Healthcare for the transaction and continues to advise the company on its ongoing fundraise and strategic initiatives. Sources indicate that several leading private equity funds are also in advanced discussions to participate and invest upto an additional $ 20 million in the current funding round.
Founded by Chaman Baid, an entrepreneur with over three decades of experience in building scalable healthcare and IT services businesses, ACN Healthcare delivers customised, end-to-end RCM solutions to hospitals and physician practices worldwide.
The company operates at scale with a workforce of over 3,000 trained professionals across 4 state-of-the-art delivery centers. ACN’s offerings span RCM and healthcare-focused business process outsourcing services, serving large hospitals, specialty practices, emergency departments, and critical access facilities across the US. ACN Healthcare says it delivers comprehensive RCM solutions that enhance revenue realization, reduce operational costs, improve the provider’s financial management and enhance over patient experience.
Commenting on the transaction, Baid said in a statement, “We are delighted to partner with True North, a well-regarded investment platform with deep experience in partnering with growth-oriented businesses. Their deep understanding of healthcare and technology services, combined with a strong institutional platform, makes them an ideal partner for ACN’s next phase of growth. This partnership significantly strengthens our ability to deliver innovative, high-impact solutions to our clients globally.”
Kapil Singhal, Managing Partner, True North-Private Credit, added, “We are pleased to partner with ACN Healthcare in the rapidly expanding healthcare RCM space. Under Chaman’s leadership, ACN has built a strong reputation for operational excellence and client delivery. We believe the company is well positioned to capitalize on the next phase of industry growth, and this investment reflects True North’s strategy of backing high-quality businesses led by exceptional founders.”
The RCM industry that currently employs over approximately 300,000 workforce continues to attract strong interest from both financial and strategic investors, driven by rising healthcare complexity, regulatory intensity, labour shortages, and consolidation among providers.
Demand for RCM services in India is accelerating on the back of rising global healthcare outsourcing, digital transformation, and complex payer ecosystems, positioning India as a critical delivery hub; the market is expected to grow at double-digit CAGR (about 15–17%) over the next decade, supported by AI-led automation and sustained international demand. India now hosts over 50% of the global RCM workforce, reflecting the strong offshore shift from overseas healthcare providers.
Wodehouse Capital Advisors is a leading mid-market investment bank and multi-family office, partnering closely with established promoter families, private equity investors, and corporates across India and global markets. As the exclusive Indian member of the World M&A Alliance, the firm provides seamless cross-border advisory capabilities spanning over 12 global jurisdictions.
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