CitiusTech explained

CitiusTech
Type:Private
Industry:Health information, healthcare, technology
Founded:2005
Hq Location:Mumbai, Maharashtra, India
Area Served:Worldwide
Key People:Rajan Kohli (CEO)

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.[5] [6] All three founders met as  students at IIT Bombay. Koita and Moorjani previously founded the BPO company TransWorks in 1999, which the Aditya Birla Group acquired in 2003.

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.

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.[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.

Notes and References

  1. News: M . Sabarinath . Shivapriya . N. . CitiusTech: Meet the three IITians on whom General Atlantic has bet $100 million . The Economic Times . 2022-11-20.
  2. Web site: Torrence . Rebecca . 2021-10-26 . CitiusTech taps new CEO as payer-focused company eyes strategic M&A moves . 2022-11-20 . Fierce Healthcare . en.
  3. Web site: CitiusTech: Pioneers Of Health Care Analytics . 2022-11-20 . Forbes India . en.
  4. Web site: jirehl . The Top 100 Healthcare Technology Companies of 2022 The Healthcare Technology Report. . 2022-11-20 . en-US.
  5. Web site: CitiusTech aims to increase headcount by 2000 in coming year . 2022-11-20 . www.biospectrumasia.com . en.
  6. Web site: KKR, Baring Asia lead race for CitiusTech - Times of India . 2022-11-20 . The Times of India . en.
  7. Web site: Chaudhary . Deepti . 2014-03-13 . General Atlantic emerges as frontrunner for PE investment in CitiusTech . 2024-02-05 . mint . en.
  8. Web site: Builders of a better India . 2022-11-20 . www.ey.com . en-IN.
  9. News: M . Sabarinath . Shivapriya . N. . General Atlantic Partners to buy 30% stake in CitiusTech . The Economic Times . 2022-11-20.
  10. News: 2014-03-20 . General Atlantic to invest in tech services firm CitiusTech . en . Reuters . 2022-11-20.
  11. News: Sangani . Priyanka . CitiusTech sets up Healthcare innovation Fund with SINE . The Economic Times . 2022-12-22.
  12. Web site: 2020-03-06 . Pat Fry, former President and CEO of Sutter Health, Joins CitiusTech's Board of Directors . Express Computer.
  13. Web site: 2017-01-31 . CitiusTech ties up with Tata Memorial Hospital for paediatric cancer care . 2022-12-22 . www.thehindubusinessline.com . en.
  14. Web site: 2020-03-13 . Sentara Healthcare partners with CitiusTech to deploy data platform on Microsoft Azure . 2022-12-22 . Technuter . en-US.
  15. News: PM . Indulal . Barman . Arijit . Citius Tech: PE General Atlantic looks to exit Citius Tech . The Economic Times . 2022-11-20.
  16. News: PM . Indulal . Barman . Arijit . Baring signs pact to buy CitiusTech . The Economic Times . 2022-11-20.
  17. Web site: Chronicle . Deccan . 2020-02-12 . CitiusTech announces partnership with Google Cloud . 2022-11-20 . Deccan Chronicle . en.
  18. Web site: Desk . AIT News . 2020-02-07 . CitiusTech Announces Partnership with Google Cloud to Accelerate Digital Transformation . 2022-11-20 . AiThority . en-US.
  19. News: Vignesh . J. . CitiusTech acquires majority stake in FluidEdge Consulting . The Economic Times . 2022-11-20.
  20. Web site: 2020-12-14 . CitiusTech Completes FluidEdge Consulting Acquisition . 2022-12-22 . CELLIT - Technology News Magazine . en-GB.
  21. News: Healthtech firm CitiusTech acquires SDLC Partners in payer market push . The Economic Times . 2022-12-22.
  22. Web site: Computer . Express . 2021-06-25 . Citiustech acquires SDLC Partners, extends payers market leadership . 2022-12-22 . Express Computer . en-US.
  23. Web site: 2021-09-13 . Atul Soneja Joins CitiusTech as President . 2022-12-22 . Enterprise IT World . en-US.
  24. News: PM . Indulal . Barman . Arijit . Bain & Able: PE edges past rivals for CitiusTech stake . The Economic Times . 2022-12-22.
  25. News: Sangani . Priyanka . CitiusTech adopts 3x10 strategy under new CEO . The Economic Times . 2022-12-22.
  26. Web site: 2022-06-02 . BITS Pilani to Upskill Professionals in Data Science, Analytics, Collaborates With CitiusTech . 2022-12-22 . News18 . en.
  27. Web site: Pringle . Sarah . 2022-10-24 . Behind Bain's CitiusTech buy . 2023-02-21 . Axios . en.
  28. Web site: 2022-11-10 . CitiusTech Acquires Wilco Source . 2023-02-21 . FinSMEs . en-US.
  29. Web site: CitiusTech acquires Wilco Source to offer CRM and Cloud Solution to health care companies By CIOTechOutlook Team . 2023-02-21 . www.ciotechoutlook.com.
  30. Web site: Dolare . Rahul . 2022-12-08 . CitiusTech Expands Footprint, Opens New Facility in Pune . 2023-02-21 . Punekar News . en-US.
  31. Web site: CitiusTech opens second Pune campus, aims to make city talent centre . 2023-02-21 . MSN . en-IN.
  32. Web site: 2020-02-13 . CitiusTech to hire 500 more in Bengaluru over two years . 2023-02-21 . Techcircle . en-US.
  33. Web site: CitiusTech Inc., Princeton, NJ Stevie Awards . 2022-12-22 . stevieawards.com.
  34. Web site: 2012-07-17 . Best companies to work for 2012: Top 50 firms upto thousand employees . India Times.
  35. Web site: CitiusTech - Virtual Exhibit Hall - Artificial Intelligence Symposium 2021 - LIVESTREAM Mayo Clinic School of Continuous Professional Development . 2022-12-22 . ce.mayo.edu.

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