Eclat Health Is Said to Consider $300 Million India IPO

Eclat Health Solutions is considering an initial public offering in India to raise as much as $300 million, people familiar with the matter said.

The healthcare revenue-cycle management company has held preliminary discussions with investment banks and is expected to appoint advisers soon, according to the people, who asked not to be identified because the talks are private. An offering could be comprised of new and existing shares, they said.

Deliberations are at an early stage and details including the size and structure of an offering may change, the people said. A representative for Eclat Health didn’t respond to requests for comment.

Nearly $10 billion has been raised in IPOs in India this year, with dozens of companies rushing to raise funds recently. They include other healthcare-related names, including hospital operator Manipal Health Enterprises Ltd. with its $960 million IPO. ASG Hospital Pvt, Knack RCM and AGS Health Pvt are planning share sales too, Bloomberg News has reported.

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Eclat Health provides services including medical coding, billing and consulting, its website shows. Gulf Capital exited its investment in the company in June through a management buyout.