Infy Co­founder Backed In­de­gene Buys Cana­dian Tech Co for 60 cr

The Economic Times - - Companies: Pursuit Of Profit - Jochelle.Men­donca @times­group.com

Mum­bai: In­de­gene Lifesys­tems, a health­care IT firm backed by In­fosys co­founder NS Ragha­van, has bought Canada’s Skura Tech­nolo­gies for $9 mil­lion (about .₹ 60 crore) to ex­pand its tech­nol­ogy of­fer­ings to life sciences and phar­ma­ceu­ti­cal com­pa­nies.

Toronto-head­quar­tered Skura fo­cuses on the North Amer­i­can mar­ket and pro­vides tech­nol­ogy to help phar­ma­ceu­ti­cal com­pa­nies and their med­i­cal rep­re­sen­ta­tives sell more ef­fec­tively to doc­tors.

“In the past there were highly skilled med­i­cal rep­re­sen­ta­tives go­ing to doc­tors to tell them about medicines. But now doc­tors have more ways of find­ing out about new drugs and there were also com­pli­ance is­sues, so more com­pa­nies are look­ing at tech­nol­ogy for help,” In­de­gene Lifesys­tems’ CEO Man­ish Gupta told ET. Skura’s soft­ware is used by about 40,000 med­i­cal rep­re­sen­ta­tives in North Amer­ica. The com­pany, launched in 1996, has 35 em­ploy­ees and earned rev­enue of $7 mil­lion at the last count. The Skura ac­qui­si­tion is the lat­est in a string of deals for In­de­gene, which is tar­get­ing $250 mil­lion in rev­enue by 2020 and con­sid­er­ing an ini­tial public of­fer­ing on Nas­daq.

In 2012, it ac­quired Ap­til­lon for $4 mil­lion, and in 2014 it ac­quired out­come research and clin­i­cal en­gage­ment ser­vices com­pany To­tal Ther­a­peu­tics.

“We have a very ro­bust ac­qui­si­tion pipe­line. This is not the last deal; there will be more,” Gupta said.

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