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Chennai, July 10 Apollo Health Street, the BPO company of the Apollo Hospitals group, is close to buying Zavata of the US. Zavata, based in Atlanta is also a BPO company that provides solutions to healthcare and insurance sectors.

While officials at Apollo Health Street refused to divulge any details about the deal (it is understood that there is a non-disclosure agreement with the sellers), sources close to the deal put the deal size at around $170 million.

Sources also said that any announcement on the deal was about two weeks away.

Set up in 1995, Zavata grew by a series of acquisitions. It has secured about $80 million equity financing from Mr Satish Sanan of Mellon Ventures and BV-Cornerstone Ventures (Mr Sanan is the Executive Chairman of Zavata) and WestBridge Capital Partners.

With this funding, Zavata did four acquisitions in two years — HPS Paradigm, Inc. in March, 2004, the Hyderabad-based Symphony Data in February, 2005, RCMS division of Siemens Medical Health Services in August, 2005 and Accordis, Inc. in August, 2006. Today, Zavata employs over 1,000 people.

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