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Virinchi Technologies, a financial IT products’ company, has acquired a major stake in the Bangalore-based Asclepius Consulting and Technologies Pvt Ltd in an all-cash deal. The latter company is focussed on IT products in healthcare sector.
“We have acquired the company to enhance top management bandwidth. Asclepius Consulting has a strong portfolio, varied client base and a seasoned management team. This acquisition is part of our plan to have a cross-industry growth strategy,” Viswanath Kompella, founder-Director of Virinchi Technologies, said.
However, the company has not indicated the size of the deal.
“The acquisition will get us Satyajeet Prasad, Vishal Ranjan and Aravind Hiremath who have experience in IT product development skills and domain knowledge in healthcare and financial services industries,” he said in a statement to the Bombay Stock Exchange.
The team from the six-year old Asclepius would get stock options in Virinchi and all its group companies. The Bangalore-based company recently launched BigMedNet to complement the patient care cycle outside the hospitals.
kurmanath.kanchi@thehindu.co.in
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