Source: IRIS NEWS DIGEST (20 November 2006)
The Chennai-based Helios & Matheson, a healthcare-focused IT services company, is planning to acquire a `pure-play` American or European company shortly, reports Business Standard.
The company plans to touch around Rs 4 billion by financial year 2007 (around Rs 2370 million consolidated revenue in 2006).
The firm plans to set up an offshore development centre in Coimbatore at an investment of USD 6 million a year. It already has a presence in Chennai and Bangalore.
Around 37% of the company`s 2006 revenues came from its healthcare business. Worldwide, this is a very profitable segment. IT spending in the vertical markets will exceed USD 2.2 trillion in 2006.
Financial services and healthcare industries will lead the IT five-year spending growth, while government, healthcare and utilities are the fastest-growing global markets in 2006.
Earlier this year, the company acquired Tact, its fourth acquisition, which will give the company a niche expertise in the life sciences domain, offering image interpretation, data analysis, clinical trials and pharmaceutical research.
Tact will soon be renamed as `Helois Matheson North America`. The US market contributed 71% revenues. The company is spanning out to markets in Europe and Asia-Pacific. Around 9.5% of its total revenues come from one single client while 38.6% from its top five clients.
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