Baring-owned CitiusTech appoints Bhaskar Sambasivan as CEO
Bhaskar Sambasivan, CEO, CitiusTech

Healthcare technology services company CitiusTech Inc on Wednesday said it has appointed Bhaskar Sambasivan as its chief executive officer, just months after joining earlier in May.

Sambasivan will replace co-founder Rizwan Koita, said CitiusTech in a statement.

Sambasivan had joined CitiusTech as president in May 2021. He had been working closely with Koita as part of a structured leadership transition process, it explained.

Prior to joining CitiusTech, Sambasivan was president of patient services and chief strategy officer at life sciences platform EVERSANA. Previously, he served at Cognizant for close to 15 years. Earlier, he was with Siebel/Oracle and PricewaterhouseCoopers in key leadership roles.

CitiusTech, founded by IIT-Bombay graduates Koita and Jagdish Moorjani in 2005, provides healthcare technology services and solutions such as software development, regulatory compliance, business intelligence and analytics. It had raised $111.25 million from private equity giant General Atlantic in March 2014, going by VCCEdge, the data and research platform of VCCircle. In 2019, Baring Private Equity Asia had signed a definite agreement to buy CitiusTech.

“As co-founder of CitiusTech, it has been a privilege to lead the organization and see it scale to over 5,400 healthcare technology professionals serving over 120 healthcare organizations,” said Kotia.

“Having worked closely with Bhaskar during the past six months, I am inspired by his passion to improve healthcare outcomes through technology innovation. CitiusTech’s co-founder and COO, Jagdish Moorjani, and I look forward to supporting him to drive the next phase of growth at CitiusTech," he added.

Following the appointment, CitiusTech co-founders will step down from their executive roles. However, they will continue to be significant shareholders and support CitiusTech as part of the board. They plan to commit more time to not-for-profit and social impact initiatives.

Earlier in June this year, CitiusTech announced the acquisition of SDLC Partners, a payer-focused technology solutions company in Pittsburgh, Pennsylvania.https://www.vccircle.com/baring-owned-citiustech-buys-us-based-sdlc-partners

The company has been growing 20% annually in recent years -- a shift driven by Covid-19 -- and projects to surpass $250 million revenue in the current year. Most of its revenue comes from the US market.

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