The Hindu Business Line : Integreo raises $40 m; acquisition in the offing

INTEGREO India, a high-end business process outsourcing services provider, plans to invest about $10 million and hike its employee strength from the current 600 here to about 1,500-2,000 within 12 months.

The company is close to making yet another acquisition, which is likely to be completed by the month-end.

Addressing a press conference here on Monday, the Executive Chairman and Chief Executive Officer of Integreo, Mr Satish Sanan, said, "Integreo has last fortnight completed its fresh round of funding and has raised $40 million. Armed with such funding, we are looking at rapidly expanding organically, and close to announcing yet another acquisition."

"The focus continues to be on healthcare and to become an end-to-end solutions provider for this sector, whose spending is estimated at about $1.7 trillion in the US alone, which is more than two times the Indian gross domestic product. As part of extending the role Integreo plays in the healthcare sector, we expect to close an acquisition that relates to medical imaging," he said.

" Medical Imaging is one area where India can provide services to the US healthcare sector. Typically, a local company in the US will capture medical data and send it across to India, which can then be analysed by experts here and a report generated, which would help save costs for the US counterparts," he said.

"The company's operations are spread across four streams (operating from four centres in the US.) However, India will become the hub for all its services, covering these four centres. About 70 per cent of the total work currently handled will be operated out of India," he said.

The President of Integreo, Mr Sandeep Madan, said, "The focus is on strengthening the management and delivery teams and creating a new facility by January 2006."

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