Tech Mahindra to buy US-based healthcare IT firm CJS Solutions for $ 100 mn

Tech Mahindra Ltd has signed a definitive agreement to acquire CJS Solutions Group LLC, a US-based healthcare information technology consulting company which does business as (DBA) the HCI Group.

Tech Mahindra will make an upfront payment of $ 89.5 million for purchase of 84.7 percent stake in the HCI Group, with the balance 15.3 percent stake to be acquired over a period of three years. As per the deal, the enterprise value of the HCI Group is $ 110 million. For 12-month period ended September 30, 2016, the HCI Group had revenues of $ 114 million.

Headquartered in Jacksonville (Florida), the HCI Group works with some of the world’s most prestigious tier-I healthcare service providers, primarily in the US and UK, focusing on providing end-to-end implementation of electronic health record (EHR) and electronic medical record (EMR) software, training and support services. The HCI Group has a large pool of Epic and Cerner (healthcare software) certified professionals, and it is a leading implementation firm for these leading companies globally. The company also has a presence in Europe, Middle East and Asia Pacific, and employs more than 500 professionals globally.