Healthcare and life sciences technology and consulting services provider CitiusTech has announced an investment from Bain Capital Private Equity. The exact amount of the investment was not disclosed.
Founded in 2005, CitiusTech provides a range of digital healthcare technology and consulting services. The company is headquartered in Princeton, New Jersey and has 5,260 employees listed on LinkedIn. CitriusTech previously acquired FluidEdge and SDLC Partners.
Bain Capital joins BPEA EQT as an investor, who acquired a majority stake in CitiusTech in 2019.
Healthcare’s Digital Changes
Digital and AI-driven solutions have become prevalent in the healthcare industry in recent years, prompting CitiusTech to invest in proprietary platforms, accelerators and scalable, repeatable solutions to address various industry needs, according to the company. This latest cash influx will be used to help the company scale and innovate, according to its CEO Bhaskar Sambasivan.
Bain Capital Invests in CitiusTech: Executive Insights
Sambasivan commented:
“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.”
Samonnoi Banerjee, managing director at Bain Capital Private Equity, said:
“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. We believe that our considerable healthcare and life sciences experience will be a significant asset to CitiusTech’s growth in a rapidly evolving healthcare technology marketplace.”
Hari Gopalakrishnan, partner at BPEA EQT, added:
“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 exceptional 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 deep healthcare domain expertise and proven technological innovation. We are excited to work with our new partners at Bain Capital as we collectively work with CitiusTech to take another big step forward.”
