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MUMBAI: Back-office firm Firstsource Solutions Ltd said on Wednesday it had acquired U.S.-based MedAssist Inc for $330 million.

Firstsource already has a presence in the payor (insurance company end) side of the U.S. healthcare back-office sector and this acquisition will help it enter the provider (hospitals end) side with 5,000 hospitals across U.S., it said in a statement.

Income from services to healthcare clients represented 13.7 per cent of Firstsource's revenues for the quarter ended June, it said. MedAssist has over 1,000 clients including hospitals and large physician groups and it posted revenue of $99 million in 20 06, the statement said.

The size of the U.S. hospital care market is around $700 billion and administrative costs are estimated to be around 14 per cent, thereby presenting a good opportunity, it said. Firstsource shares were trading 9.5 per cent higher at Rs 79.15 on the BSE.

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