HGM has informed the Exchange regarding Outcome of Board Meeting held on August 20, 2025 approving an acquisition.
HGM · price
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HGM Limited (formerly HOV Services) has approved acquiring 100% equity stake in Aidéo Technologies LLC, a US-based AI-powered medical coding company in the revenue cycle management (RCM) space. The deal, valued at up to Rs. 14.08 Crores, will be executed through its wholly owned subsidiary Healthcare Capital Holdings LLC (HCH) by issuing HCH Class B Preferred Stock, meaning no cash outflow. Aidéo, headquartered in Las Vegas and incorporated in Delaware, posted turnover of Rs. 18.96 Crores in FY24, up from Rs. 11.70 Cr in FY23 and Rs. 7.44 Cr in FY22, showing strong ~2.5x growth in two years. The transaction is not a related-party deal and no prior regulatory approvals are required, with closing expected on August 20, 2025.
Strategically positive for shareholders as HGM expands its AI-driven healthcare services platform into the fast-growing US RCM and medical coding market. The preferred-stock consideration preserves cash while bringing in a revenue-generating target (FY24 turnover higher than deal value), though execution and integration risks remain as HGM builds out its US healthcare footprint.