US-based private equity giant Carlyle Group has acquired a significant majority stake in Chennai-headquartered healthcare solutions provider Visionary RCM Infotech (India).

While the deal size was not disclosed, sources close to the development pegged it at ₹400-450 crore.

The PE major had made the acquisition through Carlyle Growth Investments IV, an affiliate of Carlyle Asia Growth Partners.

Founded in 2006, VRCM offers medical coding services for risk adjustment, audit of medical records, diagnostic and procedural coding services to hospitals and physicians for filing claims with health plans, and support for revenue cycle management (RCM).

It has five offshore delivery centres and more than 2,500 employees in India.

“As the medical coding and RCM services market continues to grow, we believe VRCM is well-positioned to capitalise on future market opportunities,” said Shankar Narayanan, Managing Director and Co-Head, Carlyle Asia Growth Partners.

Carlyle has invested more than $1.5 billion of equity in more than 30 transactions in India as of September 30, 2017. Its recent investments in India include SBI Card and Delhivery.