The deal will help CitiusTech expand its offerings reach out to a larger set of customers, the Gurgaon-based company said.
“There is a lot of investment from pharma and healthcare companies into platforms like Salesforce to transform the patient and end consumer experience,” Bhaskar Sambasivan, chief executive officer of CitiusTech, told ET. “This is this space we want to be in as part of our 3×10 strategy, and that’s the reason for this investment.”
Under its 3×10 strategy, the firm aims to grow its business three times and unlock ten times value for its clients.
“About 80% of Wilco’s business is in healthcare and this will strengthen our offerings in these areas and give our clients a unified approach to building patient-centric operating models, enabling them to accelerate digital innovation,” Sambasivan said.
Wilco Source has over 400 employees in the US and India. The acquisition will take CitiusTech’s global headcount close to 8,000 people.
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Wilco Source provides enterprise solutions for many leading healthcare and life sciences organisations, and has developed multiple accelerators and solutions.
This acquisition will provide complementary areas of growth for CitiusTech as there is barely any overlap between the two companies in terms of clients. “This opens up new areas of growth for us as it will allow us to take Wilco to all our clients,” Sambasivan said.
This is the third acquisition by CitiusTech in the healthcare technology space in the last four years. The company recently announced an investment by Bain Capital Private Equity into CitiusTech, joining existing shareholder Baring Private Equity Asia (BPEA), who had acquired a majority stake in CitiusTech in 2019.
Wilco Source cofounder and CEO Kedar Relangi said the company “has played an essential role in driving patient, provider, and member experience transformation powered by Salesforce”.
