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CitiusTech

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CitiusTech is an Indian health information technology company based in Mumbai, India.[1][2][3] The company provides services such as data management, consulting, digital engineering, and artificial intelligence to health and healthcare companies.[4]

History

CitiusTech was founded by Rizwan Koita, Jagdish Moorjani, and Bimal R. Naik in 2005.[3][5][6] The founders met while studying at the Indian Institute of Technology Bombay (IIT-B).[1][4] Prior to founding CitiusTech, Koita and Moorjani founded the BPO company TransWorks in 1999, which they sold to the Aditya Birla Group in 2003.[1]

CitiusTech received Red Herring’s Technology Award in 2011.[7]

For his work with CitiusTech, Koita received the 2013 Ernst & Young Entrepreneur of the Year Award.[8]

In 2014, American growth equity firm General Atlantic purchase a 26% stake in CitiusTech.[9][10] CitiusTech was featured in Forbes India as one of the publication’s “Hidden Gems” in 2014.[3]

The company acquired a majority stake in strategic consulting company FluidEdge Consulting in 2018.[11]

In 2019, General Atlantic exited CitiusTech, announcing plans to sell its stake in the company.[12] Baring Private Equity Asia also signed an agreement to acquire CitiusTech from Koita and Moorjani in 2019.[13]

In 2020, CitiusTech partnered with Google Cloud to provide digital solutions for medical companies through GCP (Google Cloud Platform).[14][15]

References

  1. ^ a b c M, Sabarinath; Shivapriya, N. "CitiusTech: Meet the three IITians on whom General Atlantic has bet $100 million". The Economic Times. Retrieved 2022-11-20.
  2. ^ Torrence, Rebecca (2021-10-26). "CitiusTech taps new CEO as payer-focused company eyes strategic M&A moves". Fierce Healthcare. Retrieved 2022-11-20.
  3. ^ a b c "CitiusTech: Pioneers Of Health Care Analytics". Forbes India. Retrieved 2022-11-20.
  4. ^ a b jirehl. "The Top 100 Healthcare Technology Companies of 2022 | The Healthcare Technology Report". Retrieved 2022-11-20.
  5. ^ "CitiusTech aims to increase headcount by 2000 in coming year". www.biospectrumasia.com. Retrieved 2022-11-20.
  6. ^ "KKR, Baring Asia lead race for CitiusTech - Times of India". The Times of India. Retrieved 2022-11-20.
  7. ^ Chaudhary, Deepti (2014-03-13). "General Atlantic emerges as frontrunner for PE investment in CitiusTech". mint. Retrieved 2022-11-20.
  8. ^ "Builders of a better India". www.ey.com. Retrieved 2022-11-20.
  9. ^ M, Sabarinath; Shivapriya, N. "General Atlantic Partners to buy 30% stake in CitiusTech". The Economic Times. Retrieved 2022-11-20.
  10. ^ "General Atlantic to invest in tech services firm CitiusTech". Reuters. 2014-03-20. Retrieved 2022-11-20.
  11. ^ Vignesh, J. "CitiusTech acquires majority stake in FluidEdge Consulting". The Economic Times. Retrieved 2022-11-20.
  12. ^ PM, Indulal; Barman, Arijit. "Citius Tech: PE General Atlantic looks to exit Citius Tech". The Economic Times. Retrieved 2022-11-20.
  13. ^ PM, Indulal; Barman, Arijit. "Baring signs pact to buy CitiusTech". The Economic Times. Retrieved 2022-11-20.
  14. ^ Chronicle, Deccan (2020-02-12). "CitiusTech announces partnership with Google Cloud". Deccan Chronicle. Retrieved 2022-11-20.
  15. ^ Desk, AIT News (2020-02-07). "CitiusTech Announces Partnership with Google Cloud to Accelerate Digital Transformation". AiThority. Retrieved 2022-11-20. {{cite web}}: |last= has generic name (help)
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