Helios & Matheson eyes buys in US, UK

HYDERABAD: Helios & Matheson Information Technology (HMIT), an IT services firm in the healthcare vertical, is gearing up for acquisitions in Europe and the US. The company is looking at a deal in the range of $50 million to $100 million as part of its strategy to fill gaps in geographical presence and technology. It is also planning to set up an offshore centre in Coimbatore at an investment of Rs 35 crore.

“We are mainly targeting companies which have operations in Europe. This will help us get a strong foothold there. Our aim is to later shift operations of the acquired companies to India as it will help us take advantage of a cost effective destination,” said G K Muralikrishna, managing director of HMIT.

Globally the healthcare market is growing at 12%, he said. “Studies also suggest that offshoring constitutes only 6% of the total IT spend of a company. That shows the huge market potential that exists,” he said.

“We are looking at enhancing our presence in Europe where the healthcare segment is growing rapidly. Though we have not finalised any companies, the deal size will be in the range of $50 million to $100 million,” he said.