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Time of India
2 days ago
- Business
- Time of India
Carlyle to buy major stake in Knack Global
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Private equity (PE) fund Carlyle Group has signed an agreement to acquire a significant majority stake in Knack Global , a Florida-based revenue cycle management (RCM) solutions provider, at a valuation of around $500 million, people aware of the deal told exact quantum of the stake could not be in 2007 by Rajiv Sharma in Mohali, Knack employs more than 3,800 healthcare experts and caters to providers across categories including physician groups, hospitals, ambulatory care centres, surgical facilities, and durable medical equipment suppliers. The company has a strong global footprint, with offices in Mohali, Mumbai, Hyderabad and Jaipur, besides four offices across the by investors such as LKCM Headwater Investments, Weave Growth, and angel investor Anurag Jogindernath Wahi, Knack Global raised its last funding in a seed round in 2022, according to firm appointed Arvind Ramakrishnan as CEO in May 2024, who joined from 8D Consulting Inc., bringing deep experience advising private equity firms on healthcare technology and services.A Carlyle spokesperson declined to comment while mails sent to Knack Global did not elicit any responses till the press to BCC Research, the global healthcare BPO market is projected to grow from $151.9 billion in 2022 to $259.5 billion by 2028, at a CAGR of 9.7%.The RCM industry has become a prime investment destination for global funds, driven by rising outsourcing demand from US healthcare providers. Increasing billing complexity, tightening compliance requirements, and the need to improve patient experience have pushed hospitals and physician groups to partner with specialist RCM firms. Outsourcing allows them to cut costs, improve efficiency, and ensure faster Knack Global deal is part of a broader wave of consolidation in the $259-billion healthcare outsourcing market. In 2024, Carlyle was in the race to acquire Chennai and Texas-based RCM service provider Access Healthcare , before US fund New Mountain Capital clinched the deal at a valuation of $1.8-2 billion, outbidding Blackstone, TPG and recent large-ticket deals include Blackstone's $1.1-billion acquisition of AGS Health, Ontario Teachers' Pension Plan's 45% stake buy in Omega Healthcare valuing it at $1.8 billion, TA Associates' $250 million majority buyout of Vee Healthtek, and EQT Partners' $860-million acquisition of GeBBS Healthcare Solutions from complexity of healthcare billing and reimbursement regulations, the growing focus on improving patient experience and the need for efficient and cost-effective revenue cycle management processes, are some of the key factors that are driving the healthcare revenue cycle management market, according to a study by Precedence Statistics.
Indian Express
27-07-2025
- Politics
- Indian Express
‘Terror and sports cannot go together': Congress on Asia Cup matches against Pakistan
The Chandigarh Congress has opposed the proposed India-Pakistan cricket matches scheduled to be held during the Asia Cup in September, urging the Union Government to withhold clearance for the fixtures. The party has argued that 'terror and sports cannot go together,' questioning the moral and strategic logic behind resuming cricket ties with Pakistan. Rajiv Sharma, chief spokesperson of the Chandigarh Congress, said that the Board of Control for Cricket in India (BCCI) has agreed to play against Pakistan at a neutral venue. He said the people of Chandigarh and other places in the country are upset with what he termed an 'unwarranted agreement,' particularly at a time when Operation Sindoor, launched in response to cross-border terrorism, is still ongoing. 'It is extremely disappointing that while not a single perpetrator of the Pahalgam attack has been brought to justice, the cricket boards of both nations are moving towards friendly sporting ties,' Sharma said. He warned that Indian sponsors' funds could inadvertently benefit the Pakistan Cricket Board, which, he claimed, may use the money to further terror activities against India. The Congress leader also questioned the BCCI's rationale behind opting for a neutral venue to accommodate Pakistan's interests, stating that India holds the right to host the tournament and should not compromise its position. Calling the decision an 'insult to the self-respect of the people of Chandigarh and the nation,' Sharma urged Chandigarh MP Manish Tewari to raise the issue in Parliament. He also slammed the office-bearers of the Union Territory Cricket Association for their silence on the matter, accusing them of compromising national pride for personal or political gains.
Time of India
12-07-2025
- Entertainment
- Time of India
Shiva Maha Aarti in Dhanbad on Monday
1 2 Dhanbad : On the first Monday of the Shravan month, the Jharkhand Industries Trade Association (JITA) is set to organize a grand Shiva Maha Aarti at Rajendra Sarowar in Dhanbad. The spiritual event, which has become a major annual attraction, will witness the participation of priests specially invited from Varanasi, Uttar Pradesh. Speaking to media persons, JMM leader and JITA president Amitesh Sahay said, "The joint Sanskrit chanting by priests of Kashi will be the highlight of the evening. Along with this, Shiva-Pariwar, Rudra Tandava, and Ganga-Avataran will be artistically recreated using laser light effects." Rajiv Sharma, general secretary of JITA, said that this will be the fourth consecutive year of Maha Aarti celebration in Dhanbad. In view of the growing number of devotees, the organizers have expanded seating arrangements and enhanced security measures around the pond.
Hindustan Times
10-07-2025
- Hindustan Times
Kanwariyas vandalise Swift car and beat up driver on Delhi Meerut Road; driver booked
A group of Kanwariyas returning from Haridwar late on Tuesday night allegedly vandalised a car and assaulted its drunk driver in Modinagar, Ghaziabad, after the vehicle allegedly brushed past one of the pilgrims. Earlier, in Gurugram, on August 2, 2024, a massive brawl erupted between two groups of Kanwars in which at least 14 people were injured. On the same day, two pilgrims were killed after they crashed their motorcycle on the Delhi-Meerut Expressway near Noida's Sector 58. (HT Photos (video grab)) The police identified the driver as 30-year-old Rajiv Sharma, a resident of Muradnagar. He was assaulted and his Maruti Suzuki Swift car was damaged by the Kanwariyas. While no pilgrim was injured in the incident, police said that Sharma was taken to a hospital where he was given medical aid, and his condition is stable. Despite the violence, police did not register any first information report (FIR) against the Kanwariyas. Sharma, however, was arrested under Section 170 (arrest to prevent commission of cognisable offences) of BNSS. His medical examination confirmed he was under the influence of alcohol at the time. Surendra Nath Tiwary, DCP of rural zone, said that additional sections may be added once investigation progresses. 'The incident occurred late Tuesday when the Kanwariyas were headed to Haryana after collecting water from Haridwar. It was alleged that the Swift brushed past one of them, triggering outrage among the group. They vandalised the car and beat the driver. Police intervened promptly. Sharma was found to be intoxicated in the medical exam. He is stable,' said Gyan Prakash Rai, ACP of the Modinagar circle. 'The Kanwariyas were allowed to proceed on their journey.' 'Once investigation progresses, the police may register FIR after taking cognisance of the incident of thrashing of the car driver and damaging his car,' the DCP said. ACP Rai added that diversions for light vehicles on the Delhi-Meerut Road will only take effect from July 17. For now, police presence has been intensified to ensure a peaceful Kanwar Yatra. Sharma's complete residential address was not disclosed, but Modinagar SHO Naresh Kumar confirmed that he works as staff at the Modinagar Tehsil. Sharma could not be reached for comment as his phone remained switched off. One of the Kanwariyas involved in the confrontation, Harkesh Kumar from Mewat, Haryana, said: 'We were carrying 81 litres and 11 litres of Ganga Jal in our Kanwars. The car hit two of us and sped away. We chased it for a kilometre and stopped it when it got stuck in traffic. The police then arrived and took the driver away.' The annual Kanwar Yatra, which takes place during the Hindu calendar month of Shravana, sees thousands of devotees travel to Uttarakhand to collect Ganga water and return on foot to their hometowns. Their return journeys often pass through Haridwar, Roorkee, Muzaffarnagar, Meerut, Ghaziabad and Delhi. To manage the large crowds and ensure security, police impose major traffic restrictions along the Delhi-Meerut corridor during the yatra. These measures last about two to three weeks each year. Despite the heavy deployment, the annual event has seen a series of violent incidents in the past. On July 25 last year, a group of Kanwariyas assaulted a 30-year-old man near the Delhi-Meerut Road in Muradnagar after he objected to them sitting on a fence he was building. Two days later, on July 27, dozens of Kanwariyas assaulted the driver of a sedan on the same stretch of road, damaging the car with rods and sticks. On July 30, another group allegedly vandalised liquor shops in Sahibabad and fled before the police could intervene. In Gurugram, on August 2, 2024, a massive brawl erupted between two groups of Kanwars in which at least 14 people were injured. On the same day, two pilgrims were killed after they crashed their motorcycle on the Delhi-Meerut Expressway near Noida's Sector 58.
Time of India
09-07-2025
- Time of India
Drunk driver rams speeding car into Kanwariyas, injures three pilgrims
In Modinagar, a drunk driver struck a group of Kanwariyas, injuring three pilgrims who were returning from Haridwar with holy Ganga water. Enraged by the incident, the pilgrims damaged the car and assaulted the driver, Rajiv Sharma. Police arrived, calmed the situation, arrested the driver, and seized the vehicle after a medical exam confirmed his intoxication. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A drunk driver rammed his speeding car into a group of Kanwariyas on Tuesday night in Modinagar town. Three pilgrims were injured in the incident, following which enraged people damaged the vehicle and assaulted him, police incident happened at around 10:30 pm near Raj Choupala when a group of Kanwariyas, returning to Mewat in Rajasthan after collecting holy Ganga water from Haridwar, were hit by the car, the police injured pilgrims were identified as Harkesh, Om, and Anuj. Their Kanwars (sacred structures carried by the devotees) were also damaged, a police official told by the accident, the pilgrims vandalised the car and assaulted the driver, who was identified as Rajiv arrived at the location and calmed the pilgrims down and took the injured driver into custody. He was taken to a private hospital for treatment, and the vehicle was seized, the official Commissioner of Police (Modinagar) Gyan Prakash Rai said a medical examination confirmed that the driver was under the influence of pilgrims, however, did not file any complaint regarding the damaged Kanwars and proceeded on their journey, he added.
