The newly born innovative company and started by Former Infosys ‘Asheesh Mehra’ AntWorks Pte. Ltd. has announced its first acquisition by taking over U.S.-based cloud-based Healthcare Application Technology startup Benchmark Systems.
Technology startup AntWorks and Benchmark Systems announced that the Board of Directors of both companies have unanimously approved a definitive agreement under which AntWorks will acquire Benchmark Systems, which will generate $10Mn in revenue in the next 12 months.
The company draws that the procurement to play an inevitable role in improving physician practices and ambulatory care globally and achieving greater levels of efficiency and reducing healthcare costs for its customers.
Benchmark Systems will continue to operate as a standalone brand with integrated R&D activities with AntWorks’ existing infrastructure.
The growing adoption of health information exchanges (HIEs) and electronic health records (EHRs) systems and improved quality of care and clinical outcomes are some other factors driving growth of the global healthcare IT market.
In addition to the demand for information technology solutions from healthcare providers, the growing need of healthcare insurance providers to efficiently manage an in-depth record of claims and reimbursements is also expected to contribute to the growth of the global healthcare IT market during the forecast years.