It is my privilege to write to you for the first time as the CEO of your Company andpresent to you the 7th Annual Report of your Company for the financial year ended March31 2016.
This year your Company has continued to work tirelessly towards becoming a leader inthe Health Technology sector in India.
It is important for an organization to have a purpose that it works towards. Thepurpose is the North Star for the organization and its people and acts as the anchor tomeasure everyday decisions and actions. This year we articulated our Companyspurpose of "Save and Enrich Lives".
Your Company further articulated four ways in which we would "Save and EnrichLives".
We will help improve quality of care and clinical outcomes delivered
We will provide a great experience to our customers and their stakeholders
We will empower people with relevant and meaningful information
We will make healthcare efficient and productive
What sets a successful organization apart is the commitment and passion of its people.This year we took numerous steps to have an engaged empowered and enabled team drivingthe Company forward. We articulated three behaviours - Passion Candidness and Speed -that should define us as a Company. We relooked at all processes policies and structuresimpacting our people and made modifications where required. Some of the key changes madeinclude becoming possibly Indias first "gradeless" listed company makingall policies based on roles and not position and driving ownership of decisions andactions to the relevant roles.
We strengthened our client base in our focus markets of India Africa and Middle Eastwith acquisition of new projects. We realigned our organization structure to bringoperational effectiveness to the organization build stronger customer relationships andcreate a holistic product portfolio.
I am happy to say that your Company was chosen by one of Indias largesthealthcare providers to implement our HIS across all its hospitals in India. Workstarted on this large project in January this year.
To grow and expand our Company we need to continuously invest in R&D technologyand markets. This year we initiated actions to strengthen our balance sheet and bringsustainable growth. One of the key actions was filing for amalgamation of our Company withOscar Investments Limited. The merger will provide us with a strong capital base that wecould leverage for driving growth and investments and creating value for stakeholders ofthe combined entity.
As we move forward there lie immense potential and opportunities for us to becomeleaders in a transforming industry. I am confident that together we will make HealthFore apartner of choice for our customers.
Mr. Varun Sood