SAGILITY

Stock Analysis

incorporated in July 2021 (formerly Berkmeer India Pvt. Ltd), is a Bangalore-based healthcare outsourcing company offering technology-enabled solutions to U.S. clients, with a 1.23% share in the U.S. healthcare outsourcing market (2023). It serves two main client groups: Payers (health insurers) and **Providers** (hospitals, physicians). Services for payers include claims management, payment integrity, and provider data management, while providers are offered revenue cycle management and patient engagement support. Payers account for 90% of revenue, with key clients such as UnitedHealthcare, Elevance Health, CVS Health, and Humana. The company operates a **multi-shore model** with 31 delivery centers across India, U.S., Colombia, Jamaica, and the Philippines, processing 105 million claims and managing 75 million interactions in FY24. Sagility has a high client concentration, with its top 3 clients contributing 68.5% of FY24 revenue, and top 10 accounting for 91.5%. Despite this, client retention is strong, with top 5 client relationships averaging 17 years. The company also added 22 new clients over FY23–24. Its revenue model includes time-based, transaction-based, and outcome-based pricing. As of March 2024, it employed 35,044 people, over 60% of whom were women. Sagility raised ₹2,106 crore via an **Offer for Sale IPO** and got listed on November 12, 2024.