The Hindu Business Line : Sobha buys Kale's healthcare unit

Both companies declined to spell out the transaction details. However, Mr Vipul Jain, Managing Director, Kale Consultants, said the financial impact of this sell-out on the company's earnings would not be significant as the healthcare practice was small.

"The hiving off of healthcare practice division was in line with Kale's larger strategy to focus on airline, travel and tour sector," Mr Jain said.

As part of this strategy, Kale Consultants had recently hived-off its banking products division to Onward Technologies Ltd.

The acquisition of Kale's healthcare practice is expected to help SRIT to enhance its product offerings to address specifically the two and three-tier hospitals in India and overseas, said a company release.

Apart from few hospital management solutions, the acquisition would bring over 30 customers, mainly hospitals of Kale's healthcare division including the Breach Candy Hospital within the SRIT fold.

Post-acquisition, SRIT intends to address the healthcare space worldwide with a two-pronged strategy.

The products that have come into the SRIT portfolio through the acquisition will be upgraded and repositioned primarily for West Asia and other Asian markets along with India.

More Stories on : Mergers & Acquisitions | Health | Software

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