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Silverline buys 15 percent stake in healthcare company
By siliconindia
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Tuesday, 22 January 2008, 20:30 IST
Mumbai: Silverline Technologies, a Mumbai based consultancy company, by acquiring a 15 percent stake in an unnamed North American healthcare and performance management firm, has made its formal launch into the healthcare sector. The company sources refused to disclose the financial terms of the deal.
According to a statement from the company, it has an option to acquire 100 percent stake in the firm and it would spell out complete details on the initiative over the next few weeks.
"This investment is a highly significant step towards the company's plans to be a focused leader in specific industry verticals. There is a growing need to building efficiencies and the pressure on governments, globally, on the increasing costs in the segment. In the U.S. alone, the current spend of $1.7 trillion is estimated to exceed $2.7 trillion by 2009 and working on current projections, as a percentage could reach to be 20 percent of GNP by 2015 - an estimated $4 trillion spend," said Ravi Subramanian, Chairman, Silverline Technologies.
"Moreover, despite these huge investments, healthcare sector continues to fall short in areas of efficiencies. This makes the company believe that a focus in this segment will bring enhanced shareholder value through tremendous revenue growth and high-value solutions," he added.