Tuesday, September 18, 2007

Very Interseting - Indian healthcare IT firm eyes European purchase

NEW DELHI, INDIA - Companies in Belgium and France are in talks with an India-based healthcare IT firm looking to seal a $100 million all-cash buyout to move into the European market.
Chennai, India-based Helios & Matheson said it hopes to close the expansion deal by the end of the fiscal year.

It is currently negotiating with the unnamed Brussels- and Paris-based firms.
"We are looking at a foothold in Europe," G.K. Muralikrishna told India's Economic Times. "We plan to complete the transactions in three phases (in two years time) but all through cash."
Helios & Matheson generates about 40 percent of its revenues in its healthcare IT operations, and is growing steadily following a number of acquisitions in the United States.

The company told ET the expansion would increase its workforce from 1,600 to 3,000 by 2009.

Source: Healthcare IT News By Chip Means, Contributing Editor 09/18/07

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