General Atlantic-backed CitiusTech scouts for overseas acquisitions

Healthcare technology services and solutions provider CitiusTech Inc is looking at overseas acquisition opportunities to expand its business, according to a report by The Economic Times.

"We see significant opportunity to scale our healthcare technology business across analytics, big data, cloud and mobility. We will actively pursue inorganic growth opportunities over the next couple of years," Rizwan Koita, CEO at CitiusTech, told the paper.

An emailed query to a CitiusTech spokesperson seeking comment did not elicit any information by the time of filing this article.

The US-headquartered firm had raised around $100 million in funding from private equity giant General Atlantic in March 2014. Apart from General Atlantic, Warburg Pincus, TA Associates and ChrysCapital were said to be among the other investors in talks to pick up a stake in CitiusTech.

In the past five years, the company has expanded at a compound annual rate of 50 per cent and expects to register growth of 30-35 per cent going forward, but on a larger business base, Koita said.

Co-founded by Koita and Jagdish Moorjani in 2005, CitiusTech provides healthcare technology services, including software development, interoperability, business intelligence and analytics. It employs about 2,000 people and has offices in Mumbai, Princeton, Canada and Singapore, among other places.

CitiusTech works with about 60 healthcare organisations worldwide. BI-Clinical, its flagship healthcare business intelligence and analytics platform, is deployed at almost 4,000 provider locations.

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