Home >Companies >News >General Atlantic invests in CitiusTech

Mumbai: CitiusTech Inc, which provides health-care technology services and solutions, said it had received a significant investment from global growth equity firm General Atlantic LLC.

Financial details of the deal were not disclosed.

On 13 March, Mint had reported that General Atlantic has emerged as the frontrunner for investing nearly $110 million (around 680 crore) in lieu of a minority stake.

Founded in 2005, CitiusTech has more than 1,400 employees and had won the Red Herring technology award in 2011.

“CitiusTech’s clinical data expertise and understanding of the evolving provider, payer and life science ecosystems differentiates it from traditional technology companies, and gives it a strong platform for sustained growth," Sandeep Naik, managing director and head of General Atlantic’s India team, said in a statement.

CitiusTech reported a 51% growth in corporate revenue in 2013, making it the sixth consecutive year of more than 50% revenue growth.

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