New York, Toronto – Private Equity at Goldman Sachs Alternatives (“Goldman Sachs”) and Everstone Capital (“Everstone”) have signed an agreement to sell a co-control stake in Omega Healthcare (“Omega”) to Ontario Teachers’ Pension Plan (“Ontario Teachers’”). Omega is a leading US-headquartered provider of revenue cycle management and clinical services to US healthcare organizations.
Omega works with healthcare customers to empower them to deliver exceptional care while enhancing financial performance. The firm helps its clients increase revenues, decrease costs, and improve the overall patient experience through their comprehensive portfolio of technology-enabled and clinically led solutions. Founded in 2003, Omega has approximately 35,000 employees across 14 delivery centers in the United States, India, Colombia, and the Philippines.
Omega has grown rapidly since 2019 with key value creation initiatives launched during this period under Goldman Sachs and Everstone’s ownership, enhancing Omega’s market position and financial profile. These initiatives include significant technology investment that has yielded benefits for customers through proprietary tools, automation, and in-house expertise. Omega has scaled global delivery capabilities and transformed the organization into a full-suite revenue cycle management provider. During this period, Omega also completed four acquisitions to enter new market segments such as clinical and data services and to add new delivery capabilities in the US and Colombia.
Harsh Nanda, Managing Director and Head of Technology Private Equity within Goldman Sachs Alternatives, commented: “It has been a very collaborative partnership with Everstone and a privilege to work with the Omega team, witnessing up-close the team’s drive and dedication to deliver outstanding outcomes for their customers. Ontario Teachers’ decision to join us as an investment partner is a testament to Omega management team’s vision and exceptionality.”
“We are delighted to announce the successful sale of our co-control stake in Omega Healthcare,” said Avnish Mehra, Vice Chairman and Head of Private Equity at Everstone Capital. “During our ownership period, Omega witnessed a remarkable transformation, solidifying its strong position in the healthcare services industry. This growth is a testament to the remarkable management team and the robust business model that the team helped cultivate. We’re proud of the value created and are confident that Omega is well-positioned for continued success under the new partnership.”
“The last five years have been an incredible journey in partnership with Goldman Sachs and Everstone. The collaborative partnership with the investors has been instrumental in our efforts to accelerate Omega’s growth,” said Anurag Mehta, Co-Founder and CEO of Omega. “We are thrilled to welcome Ontario Teachers’ into the Omega family and value the renewed commitment from Goldman Sachs and Everstone. This partnership reaffirms our commitment to leverage our domain expertise and our unique solutions to empower our clients.”
Advisors: Goldman Sachs & Co. LLC and TripleTree acted as co-lead financial advisors to Omega, and Weil, Gotshal & Manges served as legal counsel to Omega.
About Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $3.1 trillion in assets under supervision globally as of September 30, 2024.
Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.
About Everstone Capital
Everstone Capital is the private equity business of the Everstone Group, a global firm with assets under management exceeding USD 8 billion. The firm is committed to driving economic growth and creating sustainable value in India and Southeast Asia. Its mission is to build great businesses with extraordinary people. Everstone Capital focuses on mid-market, control growth, and cross-border opportunities across Technology, Healthcare, Financial Services, and Industrials.
About Omega Healthcare
Founded in 2003, Omega Healthcare Management Services™ (Omega Healthcare) empowers healthcare organizations to deliver exceptional care while enhancing financial performance. We help clients increase revenues, decrease costs, and improve the overall patient-provider-payer experience through our comprehensive portfolio of technology-enabled and clinically led managed outsourcing solutions. Leveraging the Omega Digital Platform (ODP), customers benefit from the company’s expertise in artificial intelligence (AI), generative AI, robotic process automation (RPA), bots, machine learning (ML), and natural language processing (NLP), to drive greater efficiency and accuracy. Omega Healthcare has approximately 35,000 employees across 14 delivery centers in the United States, India, Colombia, and The Philippines. For more information, visit www.omegahms.com.
Contact Details
Omega Healthcare
Marykate Reese
Email: marykate.reese@omegahms.com
Everstone Capital
Shubhangi Chaturvedi
Email: corpcomm@everstonegroup.com
Goldman Sachs
Victoria Zarella
Email: victoria.zarella@gs.com