HOV Services assigned for collections over US$700 million healthcare receivables

HOV Services Ltd has announced that the Company has been assigned for collections over US$ 700 million of face value healthcare receivables in the Accounts Receivable Management (ARM) vertical. The addition of this portfolio increases the total debt assigned to the Company for collections in the ARM vertical to over US$ 3.25 billion, an increase of over 29% of approximately US$ 2.5 billion.

The healthcare receivable portfolio was recently purchased by a joint venture partly owned by HandsOn Ventures, LLC, an affiliate of the Promoters and assigned under an exclusive service and collection agreement with the Company.

"We continue to work hard to Exceed Expectations. This assignment, the largest ever single portfolio assignment in our history is. we believe, is directly attributed to the confidence our customers have in our processes and employees," said Sunil Rajadhyaksha, executive director of the Company.

Source : Equity Bulls

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