Infy Cofounder Backed Indegene Buys Canadian Tech Co for 60 cr
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.