CitiusTech

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]

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

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]

For his work with CitiusTech, Koita received the 2013 Ernst & Young Entrepreneur of the Year Award.[7]

In 2014, American growth equity firm General Atlantic purchased a 26% stake in CitiusTech.[8][9] 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.[10]

Pat Fry, former President and CEO of Sutter Health, joined CitiusTech’s board of directors in 2020.[11] CitiusTech  began supplying PICC lines to children being treated for cancer at Tata Memorial Hospital in 2018.[12] CitiusTech also co-developed and deployed  Sentara Healthcare’s enterprise data platform through Microsoft Azure.[13]

In 2019, General Atlantic exited CitiusTech, announcing plans to sell its stake in the company.[14] Baring Private Equity Asia agreed  to acquire CitiusTech from Koita and Moorjani in 2019.[15]

In 2020, CitiusTech partnered with Google Cloud and began using Google Cloud Platform to provide IT and digital solutions for medical technology companies.[16][17] The company acquired a majority stake in strategic consulting company FluidEdge Consulting in 2020.[18][19]

CitiusTech acquired technology company SDLC Partners in 2021.[20] Bhaskar Sambasivian was also appointed CEO of CitiusTech after the company’s founders stepped down from their positions  2021.[2][21] Atul Soneja was appointed the company’s President of Operations in the same year.[22]

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.[23]

Bain Capital, joined CitiusTech as a strategic partner in 2022.[24] Birla Institute of Technology and Science (BITS) Pilani also began  providing training for CitiusTech’s technology professionals in 2022.[25][26] In the same year, CitiusTech acquired salesforce consulting company Wilco Source[27][28] and opened a new facility in Pune.[29][30] The company also has offices in Bengaluru.[31]

Awards

CitiusTech received the Golden Stevie Award for Most Innovative Tech Company at the American Business Awards in 2015.[32]

CitiusTech has been named one of the best workplaces in India by Great Places to Work from 2012-2020.[33][34] It was also named to Healthcare Informatics’ HCI 100 list from 2016-2018.[34]

References
  1. 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. "CitiusTech: Pioneers Of Health Care Analytics". Forbes India. Retrieved 20 November 2022.
  4. 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. "Builders of a better India". www.ey.com. Retrieved 20 November 2022.
  8. M, Sabarinath; Shivapriya, N. "General Atlantic Partners to buy 30% stake in CitiusTech". The Economic Times. Retrieved 20 November 2022.
  9. "General Atlantic to invest in tech services firm CitiusTech". Reuters. 20 March 2014. Retrieved 20 November 2022.
  10. Sangani, Priyanka. "CitiusTech sets up Healthcare innovation Fund with SINE". The Economic Times. Retrieved 22 December 2022.
  11. "Pat Fry, former President and CEO of Sutter Health, Joins CitiusTech's Board of Directors". Express Computer. 6 March 2020.
  12. "CitiusTech ties up with Tata Memorial Hospital for paediatric cancer care". www.thehindubusinessline.com. 31 January 2017. Retrieved 22 December 2022.
  13. "Sentara Healthcare partners with CitiusTech to deploy data platform on Microsoft Azure". Technuter. 13 March 2020. Retrieved 22 December 2022.
  14. PM, Indulal; Barman, Arijit. "Citius Tech: PE General Atlantic looks to exit Citius Tech". The Economic Times. Retrieved 20 November 2022.
  15. PM, Indulal; Barman, Arijit. "Baring signs pact to buy CitiusTech". The Economic Times. Retrieved 20 November 2022.
  16. Chronicle, Deccan (12 February 2020). "CitiusTech announces partnership with Google Cloud". Deccan Chronicle. Retrieved 20 November 2022.
  17. Desk, AIT News (7 February 2020). "CitiusTech Announces Partnership with Google Cloud to Accelerate Digital Transformation". AiThority. Retrieved 20 November 2022.
  18. Vignesh, J. "CitiusTech acquires majority stake in FluidEdge Consulting". The Economic Times. Retrieved 20 November 2022.
  19. "CitiusTech Completes FluidEdge Consulting Acquisition". CELLIT - Technology News Magazine. 14 December 2020. Retrieved 22 December 2022.
  20. "Healthtech firm CitiusTech acquires SDLC Partners in payer market push". The Economic Times. Retrieved 22 December 2022.
  21. Computer, Express (25 June 2021). "Citiustech acquires SDLC Partners, extends payers market leadership". Express Computer. Retrieved 22 December 2022.
  22. "Atul Soneja Joins CitiusTech as President". Enterprise IT World. 13 September 2021. Retrieved 22 December 2022.
  23. PM, Indulal; Barman, Arijit. "Bain & Able: PE edges past rivals for CitiusTech stake". The Economic Times. Retrieved 22 December 2022.
  24. Sangani, Priyanka. "CitiusTech adopts 3x10 strategy under new CEO". The Economic Times. Retrieved 22 December 2022.
  25. "BITS Pilani to Upskill Professionals in Data Science, Analytics, Collaborates With CitiusTech". News18. 2 June 2022. Retrieved 22 December 2022.
  26. Pringle, Sarah (24 October 2022). "Behind Bain's CitiusTech buy". Axios. Retrieved 21 February 2023.
  27. "CitiusTech Acquires Wilco Source". FinSMEs. 10 November 2022. Retrieved 21 February 2023.
  28. "CitiusTech acquires Wilco Source to offer CRM and Cloud Solution to health care companies By CIOTechOutlook Team". www.ciotechoutlook.com. Retrieved 21 February 2023.
  29. Dolare, Rahul (8 December 2022). "CitiusTech Expands Footprint, Opens New Facility in Pune". Punekar News. Retrieved 21 February 2023.
  30. "CitiusTech opens second Pune campus, aims to make city talent centre". MSN. Retrieved 21 February 2023.
  31. "CitiusTech to hire 500 more in Bengaluru over two years". Techcircle. 13 February 2020. Retrieved 21 February 2023.
  32. "CitiusTech Inc., Princeton, NJ | Stevie Awards". stevieawards.com. Retrieved 22 December 2022.
  33. "Best companies to work for 2012: Top 50 firms upto thousand employees". India Times. 17 July 2012.
  34. "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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