Silverline buys 15% in healthcare company

Silverline Technologies has acquired a 15 per cent in an unnamed North American healthcare and performance management firm, making its formal launch into the healthcare sector. The financial terms of the deal were not disclosed.

Silverline Technologies has an option to acquire 100 per cent stake in the firm and it would spell out complete details on the initiative over the next few weeks, the company said.

Chairman Ravi Subramanian said: "This investment is a highly significant step towards the company's plans to be a focused leader in specific industry verticals. There is a growing need to building efficiencies and the pressure on governments, globally, on the increasing costs in the segment. In the US alone, the current spend of $1.7 trillion is estimated to exceed $2.7 trillion by 2009 and working on current projections, as a percentage could reach to be 20 per cent of GNP by 2015 - an estimated $4 trillion spend".

"Moreover, despite these huge investments, healthcare continues to fall short in areas of efficiencies. "

This makes the company believe that a focus in this segment will bring enhanced shareholder value through tremendous revenue growth and high-value solutions," he added.

The company would leverage its global facilities in Canada, the US, India and potentially Mexico to build on these initiatives.