Sagility Ltd.

“Sagility is a pure-play U.S. healthcare BPO with 27% YoY revenue growth, rapidly declining debt, and improving margins in a structurally growing market — but the investment case is held back by Humana representing over 40% of revenue (the single permanent impairment risk), a PE sponsor systematically liquidating its stake via OFS with no capital benefit to public shareholders, ROIC barely above cost of capital, and a current valuation that is fair but offers no margin of safety against a client shock or AI-driven volume compression; the business deserves monitoring, not immediate capital commitment.”