Monday, May 27

Health Tech Firm CitiusTech Eyes $500M Revenue in Five Years

Healthcare technology firm CitiusTech is looking to more than double its revenue to $500 million in five years on the back of growing investments by hospitals, insurance firms and service providers in the US and Europe in harnessing data to improve services.

The firm expects to close this fiscal with revenues of $175-180 million, including income from FluidEdge, which it acquired earlier this year.

“We have been growing at 25% annually over the last few years, so even if we continue to grow at this rate, we would reach our goal of becoming a $500 million company in five years,” said CitiusTech CEO Rizwan Koita. 

The company has just set up an advisory board comprising veterans from the healthcare industry to offer strategic guidance to the management to drive innovation across key markets.

CitiusTech caters to four main market segments; healthcare providers, payers, medical technology and services companies, and life science organizations.

It primarily operates in the areas of enterprise applications, data management, performance management and data science and consulting. Koita said the firm would continue to look for acquisition opportunities in these domains to try and grow faster.