Date:08/08/2007 URL: http://www.thehindu.com/2007/08/08/stories/2007080857232100.htm

Business

Accentia Technologies acquires two U.S. firms

Staff Reporter

THIRUVANANTHAPURAM: Accentia Technologies, at the Technopark campus here, has acquired two IT companies based in Fort Lauderdale, Florida, the United States (U.S.). The GRS Physicians Billing Services and the GRS Systems are both established brands in the U.S. health care insurance field.

With this acquisition, Accentia Technologies gains control over two entities that provide billing and collection services to over 600 hospitals, clinics and their insurance collaborators in the U.S.

Chief Executive Officer of Accentia Technologies Pradeep Viswambharan entered the IT industry with the establishment of Geosoft, a medical transcription company in Technopark, and later Iridium, a business process outsourcing firm.

Recently, after taking over the Mumbai-based Accentia Technologies, Mr. Viswambharan had merged Geosoft and Iridium with it to expand the capital base, which is expected to grow to Rs.100 crore during the current fiscal. “We expect to reach the target in 2007 itself, considering the value of the two U.S. companies acquired and some more acquisitions on the way,” Mr. Pradeep said.

Accentia Technologies plans to build its own campus in the State capital to provide employment to over 1,000 hands in the near future.