Sagility India, previously Berkmeer India, offers healthcare solutions and support to two main groups: Payers (health insurers) and Providers (like hospitals and medical technology firms). The company helps Payers with their main tasks, including managing claims and checking payment accuracy. For Providers, Sagility aids in handling their billing to get reimbursed for treatments from insurers. They also work with Pharmacy Benefit Managers (PBMs) who manage drug coverage for health plan members. All of Sagility’s clients are from the United States. As of March 2024, the company has been working with its top five customer groups for an average of 17 years. They’ve served some of the biggest US health insurers, as mentioned in the Everest Report. In the past two financial years, they’ve brought in 20 new customers. Sagility India employs over 35,000 people, with more than half being women. Many of these employees are certified professionals. By March 2024, there were 374 medical coders, 1,280 registered nurses in the US, Philippines, and India, and 33 staff members holding other medical degrees like dentistry and pharmacy.

For the year/period ended (Rs. in Cr.)

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• Leadership in the U.S. Payer and Provider Market
• Comprehensive Healthcare-Focused Solutions
• Technology-Enabled, Scalable Solutions:
• Multi-Shore, Flexible Delivery Model
• Strong Client Relationships and High Retention Rates

• Offer an Exit for Major Shareholder
• Increase Public Recognition and Market Presence
• Encourage Staff with Share Allocation

The company operates in the BPM healthcare segment and offers its products and services mainly to the US market, which gives it a monopoly business status. The company’s financials are good, and it is expected to list at a PE of 56.6, considering the upper price band of INR 30. Therefore, we recommend to “Subscribe” for a long-term perspective.