CitiusTech is a healthcare IT company that provides healthcare technology services and solutions to medical technology companies as well as healthcare and life sciences organisations.
Rizwan Koita and Jagdish Moorjani both topped their batches (electrical engineering and chemical engineering, respectively) at IIT Bombay. Koita became the first non-MBA recruit of McKinsey India. While working on a report on the Indian outsourcing industry, he saw an opportunity for himself in the BPO space. Not one to sit on a good idea, Koita, who was 29 at the time, quit McKinsey and partnered with fellow IITian Jagdish Moorjani to launch a BPO TransWorks in 1999. There were only 50 good BPOs in India. In 2003, when the BPO market in India reached saturation point, they sold the company to the Aditya Birla Group for Rs 60 crore. Koita and Moorjani, now in their mid-40s, decided to take on a new challenge and enter a difficult and competitive domain: IT healthcare. They got in touch with Bimal Naik, a domain expert on the US healthcare business, another IITian, to start CitiusTech. They realised that unlike the finance industry, the medical and healthcare analytics industry was not well-organised. Compiling medical data and capturing trends is a complicated process, but that made the challenge all the more exciting. They found a fragmented market, one where very few companies had ventured into. CitiusTech is operating in a niche segment of healthcare. It was acquired by Baring Private Equity Asia in a deal valuing it at above $1 billion on June 2019.
