CitiusTech

Last updated

CitiusTech
Company type Private
IndustryHealth information, healthcare, technology
Founded2005
Founder
  • Rizwan Koita
  • Jagdish Moorjani
  • Bimal R. Naik
Headquarters Mumbai, Maharashtra, India
Area served
Worldwide
Key people
Rajan Kohli (CEO)
Website www.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]

Contents

History

CitiusTech was founded by Rizwan Koita, Jagdish Moorjani, and Bimal R. Naik in 2005. [3] [5] [6] All three founders met as  students at IIT Bombay. [1] [4] Koita and Moorjani previously founded the BPO company TransWorks in 1999, which the Aditya Birla Group acquired 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 purchased 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 established the Healthcare Innovation Fund with the Indian Institutes of Technology’s Society for Innovation and Entrepreneurship in 2016. [11]

Pat Fry, former President and CEO of Sutter Health, joined CitiusTech’s board of directors in 2020. [12] CitiusTech  began supplying PICC lines to children being treated for cancer at Tata Memorial Hospital in 2018. [13] CitiusTech also co-developed and deployed  Sentara Healthcare’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 agreed  to acquire CitiusTech from Koita and Moorjani in 2019. [16]

In 2020, CitiusTech partnered with Google Cloud and began using Google Cloud Platform to provide IT and digital solutions for medical technology companies. [17] [18] The company acquired a majority stake in strategic consulting company FluidEdge Consulting in 2020. [19] [20]

CitiusTech acquired technology company SDLC Partners in 2021. [21] Bhaskar Sambasivian was also appointed CEO of CitiusTech after the company’s founders stepped down from their positions  2021. [2] [22] Atul Soneja was appointed the company’s 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, joined CitiusTech as a strategic partner in 2022. [25] Birla Institute of Technology and Science (BITS) Pilani also began  providing training for CitiusTech’s technology professionals in 2022. [26] [27] In the same year, CitiusTech acquired salesforce consulting company Wilco Source [28] [29] and opened a new facility in Pune. [30] [31] The company also has offices in Bengaluru. [32]

Awards

CitiusTech received the Golden Stevie Award for Most Innovative Tech Company at the American Business Awards in 2015. [33]

CitiusTech has been named one of the best workplaces in India by Great Places to Work from 2012-2020. [34] [35] It was also named to Healthcare Informatics’ HCI 100 list from 2016-2018. [35]

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References

  1. 1 2 3 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. 1 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. 1 2 3 "CitiusTech: Pioneers Of Health Care Analytics". Forbes India. Retrieved 20 November 2022.
  4. 1 2 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 5 February 2024.
  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.
  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. ↑ Pringle, Sarah (24 October 2022). "Behind Bain's CitiusTech buy". Axios. Retrieved 21 February 2023.
  28. ↑ "CitiusTech Acquires Wilco Source". FinSMEs. 10 November 2022. Retrieved 21 February 2023.
  29. ↑ "CitiusTech acquires Wilco Source to offer CRM and Cloud Solution to health care companies By CIOTechOutlook Team". www.ciotechoutlook.com. Retrieved 21 February 2023.
  30. ↑ Dolare, Rahul (8 December 2022). "CitiusTech Expands Footprint, Opens New Facility in Pune". Punekar News. Retrieved 21 February 2023.
  31. ↑ "CitiusTech opens second Pune campus, aims to make city talent centre". MSN. Retrieved 21 February 2023.
  32. ↑ "CitiusTech to hire 500 more in Bengaluru over two years". Techcircle. 13 February 2020. Retrieved 21 February 2023.
  33. ↑ "CitiusTech Inc., Princeton, NJ | Stevie Awards". stevieawards.com. Retrieved 22 December 2022.
  34. ↑ "Best companies to work for 2012: Top 50 firms upto thousand employees". India Times. 17 July 2012.
  35. 1 2 "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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