Tech Mahindra to buy US health care service provider for Rs 732 cr

Florida-based company provides electronic health and medical record services

Information technology services entity Tech Mahindra will acquire CJS Solutions Group, a US-based health care provider, for Rs 732 crore ($110 million).

The Florida-based company, which does business as HCI Group, provides electronic health and medical record services, and allied software training and support.

Tech Mahindra will make an upfront payment of $89.5 million to take an 84.7 per cent stake in the company, which reported annual revenue of $114 million as on end-September 2016. The remaining stake will be acquired over three years.

This acquisition is in line with TechM's 'DAVID (digital, automation, verticalisation, innovation and disruption)' strategy. It will give the