Bain Capital Private Equity Invests in CitiusTech

CitiusTech has gained another investor.

Bain Capital Private Equity has joined existing shareholder BPEA EQT, whicj acquired a majority stake in CitiusTech in 2019. Financial terms of Bain Capital’s private transaction were not disclosed.
 
“We are thrilled that Bain Capital is joining BPEA EQT as an investor in CitiusTech, creating a partnership with two of the world’s leading investment firms. Both firms have significant track records scaling healthcare and technology businesses, and we couldn’t have picked two better partners to further support our growth ambitions,” CitiusTech CEO Bhaskar Sambasivan said. “CitiusTech has more than doubled its revenues since our partnership with BPEA EQT in 2019. The investment from Bain Capital will help us continue to scale and innovate, to better serve existing and new customers, and enable healthcare organizations to become more care-efficient, personalized, and data-driven.”

By acquiring FluidEdge and SDLC Partners earlier this year, CitiusTech can now offer healthcare domain consulting and end-to-end digital transformation solutions across its key markets: medical technology, payers, providers, and life sciences.
 
Founded in 2005, CitiusTech provides a range of digital healthcare technology and consulting services to help more than 130 healthcare and life sciences organizations deliver better outcomes, transform care and business processes. As healthcare continues to embrace digital and AI-driven solutions, CitiusTech has made strong investments in proprietary platforms, accelerators, and scalable, repeatable solutions to address industry needs such as value-based performance, technology modernization, patient engagement, medical imaging, digital front door, and digital health transformation.
 
“CitiusTech has established itself as a leader in healthcare digital innovation and business transformation, and a trusted partner to blue-chip healthcare clients with a strong track record of delivery excellence,” Bain Capital Managing Director Samonnoi Banerjee said. “We believe that our healthcare and life sciences experience will be a significant asset to CitiusTech’s growth in a rapidly evolving healthcare technology marketplace.” 
 
“As a strategic investor since 2019, we have been continually impressed by Bhaskar and the entire senior management team, in particular their ability to drive growth throughout both a strategic transformation and the headwinds of COVID-19. We have great confidence in CitiusTech’s ability to continue building on this growth through its healthcare domain expertise and technological innovation,” said Hari Gopalakrishnan, partner at BPEA EQT. “We are excited to work with our new partners at Bain Capital as we collectively work with CitiusTech to take another big step forward.”
 
CitiusTech provides digital technology and consulting services to payer, provider, medical technology and life sciences companies. With more than 7,500 healthcare technology professionals worldwide, CitiusTech powers healthcare digital innovation, business transformation and industry-wide convergence for over 130 organizations, through next-generation technologies, solutions and products. Key focus areas include healthcare interoperability, secure data management, quality and performance analytics, value-based care, patient experience, medical imaging, connected health, payer-provider convergence, care coordination and population health management. 
 
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. The firm’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and expertise in key vertical industries including healthcare and technology. The firm has made primary or add-on investments in more than 1,100 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital, and real estate, managing approximately $160 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus. 
 
BPEA EQT is part of EQT, a global investment organization in active ownership strategies. BPEA EQT combines the private equity teams from Baring Private Equity Asia (BPEA) and EQT Asia, creating an Asian private equity presence with local teams in eight cities across the region, a 25-year heritage, and more than $25 billion of capital deployed since inception.