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Model N to invest $25 mn in healthcare

Model N to invest $25 mn in healthcare
PTI
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First Published: Sun, Jul 04 2010. 12 21 PM IST
Updated: Sun, Jul 04 2010. 12 21 PM IST
New Delhi: S-based revenue management solutions provider Model N on Sunday said that it will invest $25 million in the next three years to offer customised solutions to pharma and healthcare companies in the country.
“We will be investing $25 million in India over the next three years. We are in talks with leading healthcare and pharma companies in India, and will soon ink a deal with them,” Model N Inc founder and chief executive officer Zack Rinat said.
Model N currently offers revenue management applications, which help pharma companies check revenue leakage and adhere to regulatory compliance.
The healthcare industry in the India, which comprises hospital and allied sectors, is projected to grow 23% per annum to touch $77 billion by 2012, according to a report published by Yes Bank and an industry body in November 2009.
“We see a huge opportunity in the country. Our solutions will help companies save over $40 to $120 million for every billion revenue earned by them,” he said.
The company, which currently offers its solutions to Pfizer as well as Johnson and Johnson, said it will hire 250 people by the end of September 2011 for its India operations.
Model N employs 105 professionals at its Hyderabad centre.
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First Published: Sun, Jul 04 2010. 12 21 PM IST