Healthcare solutions start-up iLogy Healthcare is looking to dilute upto 49 per cent of promoter equity to bring on board a private equity partner. The company is looking at further verticalising its offerings in the health informatics, pharmaceutical services, content management, medical communications and knowledge consulting spaces as part of its expansion, said iLogy founder and CEO Dr Bimal John.
Founded by Bimal John in 2006, iLogy has been focused on medical content and health IT knowledge solutions, with leading healthcare companies and publishers like Siemens, Skyscape Inc and Reed Elsevier as clients. iLogy has also collaboratedwith leading publishers such as Exam Master and Wiley to develop medical content and CME solutions.
“We have been evaluating potential investors in the company. Equity dilution of upto 49 per cent in the company is fine with us, but more important is the fact that an incoming investor should share our vision and have the right background to bring in further growth,” Dr John said.
The company will look to increase its headcount of doctors and other professionals from areas like pharmaceuticals and content management with a view to verticalising its services under different team leaders and project leads, John said.
“We started off providing medical domain expertise to healthcare IT firms. Subsequently, we moved to providing supporting services for pharma companies and medical publishers. The next phase of growth will come from medical database projects, health informatics and knowledge consulting,” John said.
Medical databases involve the creation of electronic guides which integrate with electronic health records (EHR) to replace paper-based health information which can be retrieved on the go by health workers to access individual health information like disease history or allergies to particular drugs.
Healthcare services companies are increasingly adopting a blend of enterprise content management (ECM), business process management (BPM) and forms automation while creating EHRs for medical databases. “We have been working with leading US-based mobile medical application providers to develop medical databases which they have integrated into their applications. There are new clients in this space we are looking at,” Dr Raghavendra Rao, Head of Operations at iLogy said.
Over the last few years, iLogy has completed projects for several global healthcare companies, including leaders such as Siemens, Exam Master Corporation, Sanofi Aventis and Pfizer. “Some of our content has reached nearly 700,000 healthcare professionals in the USA alone,” John said. iLogy has now completed a 2-year lab medicine project for a leading US clinical solutions provider.
The company has also signed up with a leading US-based research firm to work on a multi-year medical database project and several medical writing projects for US-based clients, and post recession made strong inroads into the Indian healthcare market to provide services for companies such as Dr Reddys, Novo Nordisk, MSD, Merck, and Fortis Hospitals.
