Sobha Renaissance Information Technology (SRIT) has inked a joint venture (JV) pact with Capital Technic Group (CTG), an Australian Management Consulting and Services firm, to focus in the area of healthcare and increase its business opportunities.
Both SRIT and CTG addresses the high-end technology needs in the healthcare space. The JV would aim at leveraging each others competencies and rapidly reach out to the Australasian HealthCare markets.
SRIT's tele-health systems such as tele-pathology, telediabatology, teleneurology, telecardiology, teleradiology and its Picture Archival and Communications Systems will have immediate applicability in Australia post this JV.
The joint-venture efforts capitalized at Australian $2.5million. It aims to produce $7.5m in annual revenues ramping up to $65m. Structured as a 50:50 joint-venture company known as Sobha CTG Solutions Australia Pty Ltd., it will help SRIT's products and services enter the Australasian markets.
Capital Technic Group was incorporated in 1983, and in 2000 structured a US $3.5 billion finance for early-stage and start-up technology ventures. It is a privately-held, Corporate Advisory and Investment Banking Services Company based out of Sydney with operations spread across US, UK, India, China, Malaysia, Singapore and Japan. It focuses on providing technology services for biomedical devices, biotechnology and informatics.
Dr Madhu Nambiar, CEO and MD of SRIT said, "Having already rolled out world class products in the clinical, radiological, medical imaging and eHealth space in 14 different countries, we have decided to add-on 4 more countries during the fiscal year. These are Australasia, China, Brunei, and Hong Kong. Our Chinese JV was launched in September 2007, the Australian JV is now done up. Brunei & Hong Kong should get completed between November and December, 2007. Much of our growth is expected to come in from the Asia Pacific region".
According to John Fick, Founder and MD, CTG, there is an equal give-and-take between the two companies in terms of resources, products, services and revenues to reach out to the Australasian markets and global markets for business fulfillments".
With an Australian head office, Sobha CTG Solutions Australia Pty Ltd. intends to establish a national office network with access to governmental and corporate clients. The JV would allow closing major deals and to establish a sizeable market share. It would also create career opportunities for personnel from India and Australia.
SRIT is a global IT Solutions Provider providing advanced, enterprise-class solutions to Fortune 500 class companies. It is the world's first SSE-CMM Level 5 assessed company, and also assessed and certified for P-CMM Level 5, SEI CMM Level 5, BS ISO/IEC 27001:2005 and ISO 9001:2000. Headquartered in Bangalore, SRIT currently operates in 20 countries.