The Hindu Business Line : $4 m expansion planned for IMC arm

EXPANSION in thrust areas such as e-learning, bioinformatics and software development seems to be the flavour of the current fiscal for the Pune-based Intrinsic Management Consultants, the wholly owned subsidiary of the US-based Information Management Consultants Inc.

It provides bio-informatics solutions, e-business solutions and products for Government and scientific organisations.

The company, which has already invested close to $2 million in its facility in Pune, is planning to invest another $4 million for a new facility, which is expected to come up at the third phase of the Hinjewadi Infotech park, Mr Prakash Gupta, President of the Indian subsidiary, said here on Friday.

He said the investment would be spread across three phases and that the first phase would take in an investment of $2 million and the second and third phase would have investments of $1 million each.

He said the company expects the Hinjewadi land allocation to begin by January 2005. "Once the land is allocated, it would take us a year's time to complete the new facility which would be able to house close to 2,000 people," he said. He said the company, which has current staff strength of 70, is expecting to touch a figure of 300 by March 2006.

He said that the solutions developed in Pune and the services offered here are expected to contribute nearly 15 per cent of the IMC's global revenues. Mr Sudhakar V. Shenoy, Chairman, IMC Inc, said that the company was open to acquisitions in the areas of healthcare and IT services and has earmarked an acquisition kitty of $40 million. IMC acquired Kevric in January 2003, which provides management, technical and scientific support services to private and public sector clients. He said the company is in the process of finalising one more acquisition in the US, which is into information services in the health care segment and was in the bracket of $30-35 million.

He said IMC has its presence in the UK, which was into e-learning in a major way. He pointed out that the work for the UK market was being carried out from Pune. The company however is on the look out for partners in the UK who could act as the front-end while Pune would be the back-end office.

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