EVERISE ANNOUNCES SUCCESSFUL CLOSURE OF INVESTMENT BY WARBURG PINCUS, JOINING BROOKFIELD FOR THE NEXT PHASE OF GROWTH

Rhea-AI Summary

Everise (Ticker: EVRSE) completes investment from Warburg Pincus, valuing the company at around $1 billion. The company has rapidly grown into one of the fastest-growing end-to-end customer experience solutions providers in the healthcare services outsourcing industry, with a workforce of 19,000 customer service agents spread out across eight markets. Everise plans to accelerate its growth trajectory with the support of Warburg Pincus and Brookfield, aiming to move up the healthcare value chain and expand its global footprint and workforce.

Financial Analyst

The investment from Warburg Pincus in Everise, valuing the company at approximately $1 billion, signifies a robust valuation for a firm with less than a decade of operations. This valuation reflects the company's rapid growth trajectory and its strategic positioning within the healthcare services outsourcing industry. The inclusion of Warburg Pincus, alongside existing investor Brookfield, provides Everise with a substantial financial backing, potentially enhancing its competitive edge in the market.

Everise's specialization in healthcare services outsourcing and its notable client base, including six out of the top 10 healthcare insurance payer companies in the U.S., indicates a strong market presence and customer trust. The investment is poised to support Everise's expansion plans, both in terms of service offerings and geographical reach, which could lead to increased market share and revenue growth.

Investors should monitor Everise's execution of its growth strategy, particularly how it leverages the investment to scale operations and penetrate new markets. The success of such initiatives could have a positive impact on the company's long-term financial performance and, by extension, on its valuation and attractiveness to future investors.

Healthcare Industry Analyst

The global healthcare industry is experiencing transformative changes due to demographic shifts such as an ageing population and increasing healthcare expenditures. Everise's focus on redefining customer experience in healthcare services is timely and aligns with the industry's shift towards patient-centric care. The investment from Warburg Pincus could enable Everise to capitalize on this trend by enhancing their service offerings and potentially adopting innovative technologies to improve customer interactions.

Everise's plan to move up the healthcare value chain suggests an ambition to offer more complex and integrated solutions. This strategy could open up new revenue streams and strengthen relationships with existing clients. However, it also poses challenges, as Everise will need to navigate the complexities of healthcare regulations and maintain high levels of service quality.

Stakeholders should consider the implications of Everise's growth on operational complexity and regulatory compliance. The company's ability to manage these factors effectively will be crucial for sustaining its growth momentum and maintaining its reputation in the healthcare outsourcing sector.

Economist

The investment in Everise by Warburg Pincus underscores the attractiveness of the healthcare services sector from an economic perspective, particularly in outsourcing. The sector's growth is fueled by macroeconomic factors such as an ageing population and rising healthcare costs, which drive demand for cost-efficient and scalable service models like outsourcing.

Everise's expansion strategy, supported by the investment, could contribute to economic growth by creating jobs and fostering innovation in customer service models. The company's plan to grow its global footprint may also have positive spillover effects on economies where new markets are targeted, potentially contributing to their service sector development.

However, the expansion of outsourcing in healthcare services raises questions about the implications for labor markets, particularly in terms of job quality and wage levels. As Everise grows, it will be important to consider the economic impact of its business model on the workforce and the broader implications for the healthcare services industry.

NEW YORK, SINGAPORE and MUMBAI, Dec. 20, 2023 /PRNewswire/ -- Everise, a leading global healthcare services outsourcing company, announced today the successful completion of the company's previously announced investment from Warburg Pincus. Warburg Pincus joins existing investor Brookfield, valuing the company at around $1 billion, after less than seven years of operation.

Against the backdrop of a globally ageing population and rising healthcare expenditure, the need to redefine traditional customer experiences and interactions with healthcare services is becoming intensely critical.

From its inception in 2016, Everise has since evolved rapidly into one of the fastest-growing end-to-end customer experience solutions providers in the industry. Specialized in healthcare services outsourcing, the company is headquartered in the U.S., with a workforce of 19,000 customer service agents spread out across eight markets. Today, the company counts six out of the top 10 healthcare insurance payer companies in the U.S. amongst its clients.

Sudhir Agarwal, Founder and CEO of Everise, said, "With the support of Warburg Pincus' and Brookfield's combined expertise and resources, Everise is pushing ahead with an accelerated growth trajectory. We plan to move up the healthcare value chain, extending our end-to-end service experience to more industry segments, and identifying new markets to grow our global footprint and workforce. Together with the management team, I am happy to officially welcome Warburg Pincus as a strong partner in growth."

About Everise

Founded in 2016, Everise is a global leader transforming customer service for healthcare, transport, logistics, insurance, financial services, and tech businesses. The Company solves problems for the millions of customers of some of the world's leading brands, by combining the best technology with compassionate service. With 19,000 champion agents operating across eight strategic markets globally, Everise seeks to deliver happiness to customers of some of the world's best loved brands. Our customer service solutions are high-performing, secure, and agile, with fluent proficiency in 32 languages, enabling businesses to scale globally while achieving top customer satisfaction. Learn more at www.weareeverise.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $112 billion in over 1,000 companies in more than 40 countries. The firm has more than $83 billion in assets under management. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.

About Brookfield 

Brookfield Asset Management (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with over $850 billion of assets under management. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world — including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield Business Partners (NYSE: BBU; TSX: BBU.UN) is the flagship listed vehicle of Brookfield's private equity group. It is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position.

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SOURCE Everise

What is the valuation of Everise after the investment from Warburg Pincus?

Everise is valued at around $1 billion after the investment from Warburg Pincus.

How many customer service agents does Everise have?

Everise has a workforce of 19,000 customer service agents spread out across eight markets.

Who are the investors in Everise?

Warburg Pincus and Brookfield are the investors in Everise.

What are Everise's growth plans with the support of Warburg Pincus and Brookfield?

Everise plans to accelerate its growth trajectory, move up the healthcare value chain, and expand its global footprint and workforce with the support of Warburg Pincus and Brookfield.