CitiusTech has welcomed Bain Capital Private Equity as an investor, joining existing shareholder BPEA EQT who acquired a majority stake in CitiusTech in 2019. Financial terms of the private transaction were not disclosed.
“We are thrilled that Bain Capital is joining BPEA EQT as an investor in CitiusTech, creating a partnership with two of the world’s leading investment firms. Both firms have significant track records scaling healthcare and technology businesses, and we couldn’t have picked two better partners to further support our growth ambitions,” said Bhaskar Sambasivan, Chief Executive Officer of CitiusTech. “CitiusTech has more than doubled its revenues since our partnership with BPEA EQT in 2019. The investment from Bain Capital will help us continue to scale and innovate, to better serve existing and new customers, and enable healthcare organizations to become more care-efficient, personalized, and data-driven.”
Founded in 2005, CitiusTech provides a range of digital healthcare technology and consulting services to help over 130 leading healthcare and life sciences organizations deliver better outcomes, transform care and business processes, and make a meaningfully positive impact on patients. As the healthcare industry continues to embrace digital and AI-driven solutions, CitiusTech has made strong investments in proprietary platforms, accelerators, and scalable, repeatable solutions to address industry needs such as value-based performance, technology modernization, patient engagement, medical imaging, digital front door, and digital health transformation.
“CitiusTech has established itself as a leader in healthcare digital innovation and business transformation, and a trusted partner to blue-chip healthcare clients with a strong track record of delivery excellence,” said Samonnoi Banerjee, managing director at Bain Capital Private Equity. “We believe that our considerable healthcare and life sciences experience will be a significant asset to CitiusTech’s growth in a rapidly evolving healthcare technology marketplace.”
Recent acquisitions of FluidEdge and SDLC Partners has enabled CitiusTech to offer deep healthcare domain consulting and end-to-end digital transformation solutions across its key markets – MedTech, payers, providers, and life sciences.
“As a strategic investor since 2019, we have been continually impressed by Bhaskar and the entire senior management team, in particular their ability to drive exceptional growth throughout both a strategic transformation and the headwinds of COVID-19. We have great confidence in CitiusTech’s ability to continue building on this growth through its deep healthcare domain expertise and proven technological innovation,” said Hari Gopalakrishnan, partner at BPEA EQT. “We are excited to work with our new partners at Bain Capital as we collectively work with CitiusTech to take another big step forward.”
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