Acquisition

Religare Technologies Acquires Health Care Solutions Business of Sobha Renaissance IT

The group's vision is to be Asia's largest healthcare IT player in the next three years

Sanjay Padode

Religare Technologies Limited, which provides IT services to key domains, has acquired the healthcare solutions business of Sobha Renaissance Information Technology Private Limited (SRIT), promoted by the Sobha Developers founder. This was done to augment the expertise of Religare Technologies Limited in healthcare and for accelerating its growth to become a leading provider of healthcare IT solutions.

With this acquisition, Religare Technologies becomes the sole owner of the IP-related to 'Magnum' suite of products (Hospital Information System). This deal will add more than 100 experts who have worked on these IPs to its healthcare IT practice. Post this acquisition, Religare Technologies will have the ability to build and implement Hospital Management Systems that are scalable.

In line with the same, the group has outlined a long-term strategic interest in the space of healthcare IT. The vision is to be Asia's largest healthcare IT player in the next three years and thereafter gain global leadership in the same. In healthcare, the company will provide IT services, IT solutions, ITES and BPO/ KPO services. The strategy will have defined focus on B2C initiatives as well as B2B solutions for payor (health insurance), provider (hospitals) and life sciences (pharmaceutical related) organisations.

"Domain focus is what drives our IT services strategy at Religare Technologies. This acquisition augments our healthcare expertise and provides us with the necessary tools and framework to build a sophisticated and efficient solution for any healthcare provider globally," said Sanjay Padode, CEO, Religare Technova Ltd.

'Magnum' has been rated by Microsoft as the No1 HIS Product in India and is a leader in this category. Magnum is an end-to-end, state-of-the-art HIS which provides healthcare providers with the tools to ensure compliance to processes, transactional efficiency related clinical, administrative or revenue related functions

and with the armory required to plug revenue and process leaks and to optimise the same. With 40 modules and nine tools, Magnum can be customised for every location thus proving to be the right HIS for Hospital Groups, built on Services Oriented Architecture (SOA) using the latest technologies available in the market. Magnum serves across the continuum of care, ensuring that the relevant information is available to the right personnel at the right time.

With a current repertoire of 20+ customers across Asia, USA, Middle East and Africa, Magnum will be leveraged by Religare Technologies to automate business processes in the provider space and integrate the same tightly with other enterprise applications. The team of 100 developers who will develop and maintain this product also will migrate as part of this deal.

EH News Bureau