Silverline gets into Healthcare sector

Silverline Technologies Ltd has announced the launch of its Healthcare Sector through an Investment of 15% with an option of 100% acquisition in a North American Firm specializing in Healthcare change and performance management.

Commenting on this development, Ravi Subramanian, Chairman of the Board said "This investment is a highly significant step towards the Company’s plans to be a focused leader in specific industry verticals. There is a growing need to building efficiencies and the pressure on governments, globally, on the increasing costs in the segment. In USA alone, the current spend of $1.7 Trillion is estimated to exceed $2.7 Trillion by 2009 and working on current projections, as a percentage could reach to be 20% of GNP by 2015
- an estimated $ 4 Trillion spend! Moreover, despite these huge investments, healthcare continues to fall short in areas of efficiencies. This makes the Company believe that a focus in this segment will bring enhanced shareholder value through tremendous revenue growth and high-value solutions."

"The Company will aggressively build on the Healthcare Solutions Practice encompassing IT Consulting, Business Transaction Processing and Business Performance Management, Analytics and Exception Reporting solutions. This investment is in line with building the Technology-enabled Service Management Optimization (TESMO) focused solutions set. It brings in an innovative, patent-pending solution to the practice aimed to deliver major value to adopting hospitals, and to the insurance companies and governments which fund health care. It brings physicians and managers together for the first time to manage the whole-hospital impacts of changes in hospital operations. The solution will identify, and help to actualize, major cost savings for hospitals, arising from care improvements for patients. It adds a brand-new third layer to hospital clinical-financial management and sits on top of the first layer of clinical records and financial-accounting systems, and the second layer of patient-cost-accounting systems", said Titus Sequeira, Executive Director and Chief Strategy Officer.

The Company said it would spell out complete details on the initiative over the next few weeks. The Company would leverage its global facilities in Canada, USA, India and potentially Mexico to build on these initiatives.