Visionary RCM receives Rs 150 million funding from IndoUS Venture Partners
Funding to support growth of Visionary RCM
Chennai, August 11, 2010: Visionary RCM (VRCM), an ambitious services company specialising in healthcare revenue cycle management, announced that it has received funding of Rs 150 Million from leading venture capital company IndoUS Venture Partners (IUVP), which provides early and mid-stage funding to new and growing businesses in India. VRCM will primarily use the capital to acquire US based companies in the coming year. With this funding the company is looking to aggressively scale up its processes to become a leading player in this space.

VRCM was started in the year 2006 by a first generation entrepreneur Mr. Rajesh P Surana, along with Mr. Sundararajan, advisor to Shriram Group and Mr. Abhaya Kumar, Joint Managing Director, Shasun Chemicals and Drugs. The company has a state of the art delivery center in Chennai. VRCM is very keen on growth and has grown from a strength of 6 people to 185 as of this day.

With strong funding and ambitious plans VRCM is looking to create 300 high skill jobs in India by the next year.

Rajesh Surana, CEO of VRCM, commented: US Healthcare offers a huge spectrum of opportunities for innovative companies like ours for organic and inorganic growth. Our focus is on creating brand equity for VRCM in Healthcare Services Space and partnering with IUVP would help us in working towards our vision. With this we expect to continue on our high growth trajectory by tapping newer markets and attracting quality talent.

Kumar Shiralagi, Managing Director of IUVP commented: "Our keen interest in Visionary RCM comes from the scope of growth and the track record of the company in the healthcare space. VRCM with its strong service proposition has not only offered customers better value but also driven them towards higher productivity and margins which are clear indicators of the commitment that it has towards its business. We hope that with this partnership VRCM is able to leverage the enormous opportunities that the US market offers in the healthcare space and build a growth trajectory for all associated"

Saffron Capital Advisors Private Limited was the Exclusive Advisor to this transaction. Speaking on this occasion, Mr. Afzal Momin Co-Head, Private Equity said, "We at Saffron believe in helping emerging companies with sound business models and quality teams to scale their businesses to a higher orbit. VRCM is uniquely positioned to exploit the unfolding opportunities in the US Healthcare Services Space and we are privileged to be associated with it and are fully committed to support it in all its future endeavors."