Mumbai: Healthcare IT firm Indegene Lifesystems has acquired US-based Enicma Group for $16 million (Rs 109.54 crore) to ramp up its analytics and omni-channel digital solutions capability for the pharma industry.
Manish Gupta, Chief Executive of Bengaluru-headquartered Indegene, said life sciences companies are facing challenges in engaging health service providers and patients with the shift to more digital channels.
Enicma’s acquisition will help address this, “The solution lies in decoding customer behavior and rationalising brand engagement spends to channels that deliver highest return on investments. Encima brings this capability into the Indegene portfolio,” Gupta said.
Indegene, which is backed by Infosys Co-Founder NS Raghavan, has been growing at 35-40% year-on-year. It helps US based life sciences companies through its analytics, technology, operations and medical expertise (ATOM).
The company, which has been around for 15 years, has some 1,400 employees and offices in Montreal, Los Angeles, Atlanta,Shanghai, Zurich and Bengaluru. It reported a topline of roughly $40 million at the end of 2013.
The Encima Group provides solutions to Fortune 1000 clients in the pharmaceutical and life sciences industries to help clients establish enterprise capabilities in marketing and analytics.
“Through this (latest) acquisition, we aim to be a leader in multichannel marketing for lifescience organisations from an engagement and technology perspective,” Gupta said.
Indegene has been on an acquisition drive. Earlier this year it bought Canada’s Skura Technologies for $9 million to expand its technology offerings to life sciences and pharmaceutical companies.
Last year, it had acquired SmartCare — a health analytics platform — from Connecticut-based Vantage Point for $6-8 million. In 2014, it had acquired Atlanta-based quality improvement, outcome research and clinical engagement services company Total Therapeutic Management (TTM), Inc.
In 2012, it had acquired Canada-based multi-channel and physician marketing company Aptillon Holdings Inc for $4 million, all funded through internal accruals. ET had reported that the company was looking to raise money from private equity investors and has appointed investment bank Credit Suisse to look for investors.
The company is targeting $250 million in revenue by 2020 and is also looking at a Nasdaq Initial Public Offering.
Source: The Economic Times
