Wipro acquires Spectramind and GE Medical Systems IT

Wipro Ltd has announced that it has acquired 100 percent stake in GE Medical
Systems IT Ltd for $ 5.73 million. The new acquisition will be a 100 percent
subsidiary of Wipro Ltd and would in all possibility be merged with the parent
company in the years to come. Wipro Ltd also acquired major stakes in
Spectramind e-services.

As part of the transaction, Wipro Ltd has also acquired Healthcare
Information Systems Intellectual Properties owned by GE Medical Systems US.

Wipro Ltd also has plans to leverage on the existing customer base of GE
Medical Systems, which is mainly concentrated in India and the Middle East. GE
Medical Systems will distribute health care IT products acquired now by Wipro
Ltd into the markets of Indonesia, Thailand and the Middle East.

According to DA Prasanna, Vice Chairman, Wipro Ltd and CEO, Wipro Healthcare
and Life Sciences, “Wipro Ltd has decided to retain the services of GE Medical
Systems existing MD Vishweshwar Konda in the newly acquired subsidiary also.”
He also informed that the GE Medical Systems had a team size of 130
professionals and Wipro has decided to utilize their services also. He further
remarked, “We are pleased to welcome the GE Medical Systems IT Ltd into the
Wipro family and the depth of domain skills they bring will help us deliver
superior solutions to global customers. The intellectual property acquired from
GE Medical systems US will also provide us the platform to expand our offerings
in the Indian and Asia Pacific Healthcare IT market with proven product.”

GE Medical Systems which was established in October 2000 as a joint venture
between GE Medical Systems and Citadel Health Ltd is a provider of Healthcare IT
services in India and the Middle East. The company’s Hospital Information
System package HIReps is a comprehensive ERP software for hospital management,
which integrates all departments and their various functions within the
hospital. The product is presently installed in over 20 hospitals across India
including the Apollo group, Fortis Healthcare, Manipal group and Wockhardt and
the Saudi German hospital in the Middle East.

Cyber News Service