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CitiusTech
Company typePrivate
IndustryHealth information, healthcare, technology
Founded2005
Founder
  • Rizwan Koita
  • Jagdish Moorjani
  • Bimal R. Naik
HeadquartersMumbai, Maharashtra, India
Area served
Worldwide
Key people
Bhaskar Sambasivan (CEO)
Websitewww.citiustech.com

CitiusTech is a global 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]

CitiusTech collaborated with the Indian Institutes of Technology’s SINE (Society for Innovation and Entrepreneurship) to establish the Healthcare Innovation Fund in 2016.[11]

Pat Fry, former President and CEO of Sutter Health, joined CitiusTech’s board of directors in 2020.[12] CitiusTech also partnered with Tata Memorial Hospital to provide PICC lines (Percutaneous Intravenous Central Catheters) to children being treated for cancer in 2018.[13] CitiusTech also partnered with Sentara Healthcare to deploy the company’s enterprise data platform through Microsoft Azure.[14]

In 2019, General Atlantic exited CitiusTech, announcing plans to sell its stake in the company.[15] Baring Private Equity Asia also signed an agreement to acquire CitiusTech from Koita and Moorjani in 2019.[16]

In 2020, CitiusTech partnered with Google Cloud to provide digital solutions for medical companies through GCP (Google Cloud Platform).[17][18] The company acquired a majority stake in strategic consulting company FluidEdge Consulting in 2020.[19][20]

CitiusTech acquired Pittsburgh-based technology company SDLC Partners in 2021.[21] Bhaskar Sambasivian was also appointed CEO of CitiusTech after Koita stepped down as CEO in 2021.[22] Atul Soneja, the company’s former Global Technology Leader, was appointed President of Operations in the same year.[23]

Baring Private Equity Asia announced it was selling its 40% stake in CitiusTech in 2022, companies such as Bain Capital, Apax Partners, and Fujitsu expressed their interest, with Bain Capital considered the frontrunner in acquiring the stake.[24] Bain Capital eventually acquired the stake, joining CitiusTech as a strategic partner.[25] Birla Institute of Technology and Science (BITS) Pilani partnered with CitiusTech to provide training for CitiusTech’s technology professionals.[26]

Awards

CitiusTech received the Golden Stevie Award for Most Innovative Tech Company at the American Business Awards in 2015.[27]

CitiusTech has been named one of the best workplaces in India by Great Places to Work from 2012-2020.[28][29] It was also named to Healthcare Informatics’ HCI 100 list from 2016-2018.[29]

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 20 November 2022.
  2. ^ Torrence, Rebecca (26 October 2021). "CitiusTech taps new CEO as payer-focused company eyes strategic M&A moves". Fierce Healthcare. Retrieved 20 November 2022.
  3. ^ a b c "CitiusTech: Pioneers Of Health Care Analytics". Forbes India. Retrieved 20 November 2022.
  4. ^ a b jirehl. "The Top 100 Healthcare Technology Companies of 2022 | The Healthcare Technology Report". Retrieved 20 November 2022.
  5. ^ "CitiusTech aims to increase headcount by 2000 in coming year". www.biospectrumasia.com. Retrieved 20 November 2022.
  6. ^ "KKR, Baring Asia lead race for CitiusTech - Times of India". The Times of India. Retrieved 20 November 2022.
  7. ^ Chaudhary, Deepti (13 March 2014). "General Atlantic emerges as frontrunner for PE investment in CitiusTech". mint. Retrieved 20 November 2022.
  8. ^ "Builders of a better India". www.ey.com. Retrieved 20 November 2022.
  9. ^ M, Sabarinath; Shivapriya, N. "General Atlantic Partners to buy 30% stake in CitiusTech". The Economic Times. Retrieved 20 November 2022.
  10. ^ "General Atlantic to invest in tech services firm CitiusTech". Reuters. 20 March 2014. Retrieved 20 November 2022.
  11. ^ Sangani, Priyanka. "CitiusTech sets up Healthcare innovation Fund with SINE". The Economic Times. Retrieved 22 December 2022.
  12. ^ "Pat Fry, former President and CEO of Sutter Health, Joins CitiusTech's Board of Directors". Express Computer. 6 March 2020.
  13. ^ "CitiusTech ties up with Tata Memorial Hospital for paediatric cancer care". www.thehindubusinessline.com. 31 January 2017. Retrieved 22 December 2022.
  14. ^ "Sentara Healthcare partners with CitiusTech to deploy data platform on Microsoft Azure". Technuter. 13 March 2020. Retrieved 22 December 2022.
  15. ^ PM, Indulal; Barman, Arijit. "Citius Tech: PE General Atlantic looks to exit Citius Tech". The Economic Times. Retrieved 20 November 2022.
  16. ^ PM, Indulal; Barman, Arijit. "Baring signs pact to buy CitiusTech". The Economic Times. Retrieved 20 November 2022.
  17. ^ Chronicle, Deccan (12 February 2020). "CitiusTech announces partnership with Google Cloud". Deccan Chronicle. Retrieved 20 November 2022.
  18. ^ Desk, AIT News (7 February 2020). "CitiusTech Announces Partnership with Google Cloud to Accelerate Digital Transformation". AiThority. Retrieved 20 November 2022. {{cite web}}: |last= has generic name (help)
  19. ^ Vignesh, J. "CitiusTech acquires majority stake in FluidEdge Consulting". The Economic Times. Retrieved 20 November 2022.
  20. ^ "CitiusTech Completes FluidEdge Consulting Acquisition". CELLIT - Technology News Magazine. 14 December 2020. Retrieved 22 December 2022.
  21. ^ "Healthtech firm CitiusTech acquires SDLC Partners in payer market push". The Economic Times. Retrieved 22 December 2022.
  22. ^ Computer, Express (25 June 2021). "Citiustech acquires SDLC Partners, extends payers market leadership". Express Computer. Retrieved 22 December 2022.
  23. ^ "Atul Soneja Joins CitiusTech as President". Enterprise IT World. 13 September 2021. Retrieved 22 December 2022.
  24. ^ PM, Indulal; Barman, Arijit. "Bain & Able: PE edges past rivals for CitiusTech stake". The Economic Times. Retrieved 22 December 2022.
  25. ^ Sangani, Priyanka. "CitiusTech adopts 3x10 strategy under new CEO". The Economic Times. Retrieved 22 December 2022.
  26. ^ "BITS Pilani to Upskill Professionals in Data Science, Analytics, Collaborates With CitiusTech". News18. 2 June 2022. Retrieved 22 December 2022.
  27. ^ "CitiusTech Inc., Princeton, NJ | Stevie Awards". stevieawards.com. Retrieved 22 December 2022.
  28. ^ "Best companies to work for 2012: Top 50 firms upto thousand employees". India Times. 17 July 2012.
  29. ^ a b "CitiusTech - Virtual Exhibit Hall - Artificial Intelligence Symposium 2021 - LIVESTREAM | Mayo Clinic School of Continuous Professional Development". ce.mayo.edu. Retrieved 22 December 2022.
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