CitiusTech Announces Investment and Strategic Partnership from Bain Capital Private Equity
MUMBAI, India, Oct. 21, 2022 /PRNewswire/ — CitiusTech (“the Company”), a leading provider of technology and consulting services to healthcare and life sciences companies, today welcomed Bain Capital Private Equity (“Bain Capital”). as an investor, joining existing shareholder BPEA EQT who acquired a majority stake in CitiusTech in 2019. Financial terms of the private transaction were not disclosed.
“We are thrilled that Bain Capital is joining BPEA EQT as an investor in CitiusTech, creating a partnership with two of the world’s leading investment firms. Both firms have significant track records scaling healthcare and technology businesses, and we couldn’t have picked two better partners to further support our growth ambitions,” said Bhaskar Sambasivan, Chief Executive Officer of CitiusTech. “CitiusTech has more than doubled its revenues since our partnership with BPEA EQT in 2019. The investment from Bain Capital will help us continue to scale and innovate, to better serve existing and new customers, and enable healthcare organizations to become more care-efficient, personalized, and data-driven.”
Founded in 2005, CitiusTech provides a range of digital healthcare technology and consulting services to help over 130 leading healthcare and life sciences organizations deliver better outcomes, transform care and business processes, and make a meaningfully positive impact on patients. As the healthcare industry continues to embrace digital and AI-driven solutions, CitiusTech has made strong investments in proprietary platforms, accelerators, and scalable, repeatable solutions to address industry needs such as value-based performance, technology modernization, patient engagement, medical imaging, digital front door, and digital health transformation.
“CitiusTech has established itself as a leader in healthcare digital innovation and business transformation, and a trusted partner to blue-chip healthcare clients with a strong track record of delivery excellence,” said Samonnoi Banerjee, managing director at Bain Capital Private Equity. “We believe that our considerable healthcare and life sciences experience will be a significant asset to CitiusTech’s growth in a rapidly evolving healthcare technology marketplace.”
Recent acquisitions of FluidEdge and SDLC Partners has enabled CitiusTech to offer deep healthcare domain consulting and end-to-end digital transformation solutions across its key markets – MedTech, payers, providers, and life sciences.
“As a strategic investor since 2019, we have been continually impressed by Bhaskar and the entire senior management team, in particular their ability to drive exceptional growth throughout both a strategic transformation and the headwinds of COVID-19. We have great confidence in CitiusTech’s ability to continue building on this growth through its deep healthcare domain expertise and proven technological innovation,” said Hari Gopalakrishnan, partner at BPEA EQT. “We are excited to work with our new partners at Bain Capital as we collectively work with CitiusTech to take another big step forward.”
About CitiusTech
CitiusTech is a leading provider of digital technology and consulting services to payer, provider, medical technology and life sciences companies. With over 7,500 healthcare technology professionals worldwide, CitiusTech powers healthcare digital innovation, business transformation and industry-wide convergence for over 130 organizations, through next-generation technologies, solutions and products. Key focus areas include healthcare interoperability, secure data management, quality and performance analytics, value-based care, patient experience, medical imaging, connected health, payer-provider convergence, care coordination and population health management. CitiusTech’s cutting-edge technology expertise, deep healthcare domain expertise and a strong focus on digital transformation enables healthcare and life sciences companies to reinvent themselves to deliver better outcomes, accelerate growth, drive efficiencies, and ultimately make a meaningful impact to patients. Learn more: www.citiustech.com .
About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare and technology. The firm has made primary or add-on investments in more than 1,100 companies since its inception. Within healthcare, Bain Capital has partnered with dynamic healthcare companies dedicated to quality, access, innovation, and improved patient outcomes (to learn more please visit https://www.baincapital.com/healthcare/), and with scale and disruptive technology businesses where the firm’s in-depth knowledge of fundamental trends, insight into evolving customer dynamics, and vertical market expertise helps accelerate growth.
In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital, and real estate, managing approximately $160 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus. For more information, visit www.baincapitalprivateequity.com.
About BPEA EQT
BPEA EQT is part of EQT, a purpose-driven global investment organization in active ownership strategies. BPEA EQT combines the private equity teams from Baring Private Equity Asia (BPEA) and EQT Asia, creating a comprehensive Asian private equity presence with local teams in eight cities across the region, a 25-year heritage, and more than USD 25 billion of capital deployed since inception. In addition to BPEA EQT, EQT’s strategies in the region include EQT Infrastructure and the real estate division EQT Exeter. More info: www.eqtgroup.com/private-capital/bpea-eqt
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