Indegene Lifesystems Pvt Ltd, a Bangalore-based healthcare solutions provider, has acquired the life sciences business of Canada’s Skura Corporation for an undisclosed amount, just five months after it bought a US-based health analytics platform, it said in a statement.
The acquisition will help the firm expand its software suite for life sciences, product development capabilities in North America and global life science customer base, Indegene said. The company did not disclose the deal value.
Life sciences manufacturers, including pharmaceutical, medical device, consumer health and biotech organizations, have been looking to leverage technology to accelerate sales, marketing and medical functions. According to Gartner, digital drug launches will become the industry norm as 80% of top pharma companies are expected to announce new products through at least five digital channels by 2018.
“We see a step change in how healthcare providers want to engage with life sciences manufacturers, and are committed to accelerating innovation through significant investments to address this challenging shift,” said Manish Gupta, CEO, Indegene, in the statement.
Customers using Indegene’s software products are spread across 50 countries, he said.
This is the latest acquisition by the Bangalore-headquartered company. In December 2015, it acquired SmartCare, a health analytics platform, from Connecticut-based Vantage Point, Inc for $6-8 million (read more here).
Gupta had then said Indegene is in the nearly $100 million revenue range and aims to register revenues worth $250 million in five years.
The company has around 1,400 employees and offices in Montreal, Los Angeles, Atlanta, Shanghai, Zurich and Bangalore.
It was catering to the domestic market till 2004 and later decided to change its strategy to focus on the overseas market. A little later, Infosys co-founder NS Raghavan’s Nadathur Holdings invested in the firm, offering an exit to KITVEN Fund, which had invested in Indegene in 2002.