Mumbai, Aug. 29: Firstsource Solutions today entered into an agreement to acquire US-based MedAssist Holding Inc for $330 million. The deal is subject to regulatory approval from the US HSR (Hart-Scott-Rodino Antitrust Improvements) act.

MedAssist provides revenue cycle management services to the US healthcare industry. This includes eligibility, receivables management and post-default collections services for healthcare providers. Headquartered in Louisville, Kentucky, the company has 1,400 employees. It has over 1,000 clients, including hospitals, physician groups and alternate site providers.

According to the agreement, there would be no change in the MedAssist management and employees would continue with their current jobs, Firstsource said in a filing to the Bombay Stock Exchange. MedAssist’s revenue for the year ended December 31, 2006, was $99 million.