Press Release

October 9, 2023

Gulf Capital’s Eclat Health Solutions Acquires the Health Information Management (HIM) Division of Excite Health Partners to create a leading US Revenue Cycle Management Platform

Gulf Capital, one of the largest and most active private equity firms investing from the GCC to Asia, announced today that its portfolio company, Eclat Health Solutions, has fully acquired the Health Information Management (HIM) division of Excite Health Partners to further bolster its US Revenue Cycle Management (RCM) Platform. This constitutes the third acquisition for Gulf Capital’s US Revenue Cycle Management platform following the acquisitions of Eclat Health Solutions and Hansei Solutions, and its fifth globally. With this acquisition, the US RCM Platform continues to expand its coverage and capabilities through the provision of technology, tailored point solutions, as well as end-to-end RCM across the US healthcare spectrum from behavioural facilities and ambulatory surgery centres to medium and large healthcare providers and payers. Since the initial acquisitions, Gulf Capital’s US RCM platform has scaled its coverage from seven to 33 US states, expanded its services by introducing a new payer vertical and two new SaaS technology, expanded from two delivery centres to eight centres across three continents, and grew the employee base from 300 to 2000+. 

This acquisition unites the two leadership teams of ECLAT and Excite, each with a proven track record of success, to drive the combined company’s growth. The collective experience and knowledge will allow for creative and innovative service solutions that benefit clients and patients alike. One of the key benefits of this acquisition is the expanded service offerings. ECLAT Health Solutions will now be able to provide both global and onshore HIM offerings through Excite Health Partners robust network and experienced team members. The expanded portfolio of services will offer clients, both new and existing, a wider range of options to meet their evolving needs and requirements.

Dr. Karim El Solh, Co-Founder and CEO of Gulf Capital, said: “This is the second bolt-on acquisition announced over the last two weeks by Gulf Capital following the recent acquisition by our Intellectual Property firm CWB of Hahn &Hahn in Africa. These strategic acquisitions exemplify Gulf Capital’s commitment of building global leaders across our priority sectors through the combination of organic growth and strategic bolt-on acquisitions. Gulf Capital’s track-record of ‘buy-and-build’ strategies is best illustrated by our global RCM platform having completed five transactions across the Middle East, the US, and Australia to become a true global RCM leader. Gulf Capital has built a long and distinguished track record of building global leaders out of the Gulf region.”

“As we welcome the Excite team to ECLAT, our excitement is matched by our unwavering dedication to meeting our clients’ needs. Together, our goal is to seamlessly integrate our teams, maintaining our shared commitment to exceptional service and preserving the culture that has defined our success,” stated Karthik Polsani, Founder & Group CEO of ECLAT Health Solutions. “We are especially thankful for our partners at Gulf Capital who have been instrumental in guiding and supporting our growth as we introduce new verticals such as our payer business, our SaaS technology evaire, as well as leading our inorganic growth ambitions.”  

Mohammad Madani, Managing Director, Gulf Capital, concluded: “We are especially lucky in partnering with like-minded founders and companies who are transforming the sectors they operate in. Our US RCM platform has witnessed phenomenal organic growth and the recent addition of the Excite HIM division is a testament to the platform’s operational ability to grow and scale through inorganic acquisitions that enhance our delivery capabilities to our clients. Our platform today has the unique capabilities of addressing any and all client pain-points by offering tailored and comprehensive solutions through a mix of technology and services as well as the flexibility of offering global delivery capabilities in eight locations and three continents. We remain extremely enthusiastic at the growth prospects of our global RCM platform and what the future holds for us and our partners.”