BH Management has announced it will close the Bangalore office of Anger Management Therapy Services Pvt Ltd (AMTS) on August 31, 2019, according to the firm’s website.
The move is the latest blow to the company that has been struggling to survive in the Indian market, which has seen an exponential growth in the number of patients seeking therapy.
In 2016, India recorded more than 4 million new cases of mental health disorders.
The company has been embroiled in a controversy over the appointment of two employees as the new Director of AMTS, which was a controversial move that sparked protests and a slew of accusations against the company.
The controversy has further highlighted the difficulties faced by AMTS and other Indian companies in meeting demand in the global market, and resulted in the resignation of the CEO, Anil Kumar.
In 2017, AMTS reported a net loss of Rs 8 crore in the fiscal year, and was forced to shut down the company’s three facilities.
In January 2019, AMETS, which had over 15,000 clients across India, filed a lawsuit against the Government of India seeking compensation for the loss of its revenues and assets in the past three years.
The court rejected the claim, and the case was transferred to a court in Bangalore, where a trial is being held.
India’s Supreme Court has rejected AMTS’s request for damages, but has also allowed the firm to close its facilities.
The closure of AMETS comes just a month after Bharti Airtel closed the Bangalore offices of its Bangalore-based business division.
The Bangalore offices had been in operation for over two years, and were used by Bhartis, the company, to serve more than a million customers in the city.
According to reports, Bhartiat Airtels, which also operates in India, had already closed its Bangalore offices in the same month as AMTS was to close.
India is one of the fastest growing markets for the healthcare industry globally, with the healthcare sector accounting for more than one in every 10 jobs.
According for 2016, the Indian economy generated $1.5 trillion in revenue, and nearly two-thirds of this was from the healthcare sectors.
The Indian healthcare sector employs over three million people and employs more than three million professionals.
In India, the healthcare expenditure is estimated to be $2.9 trillion.