Calcutta, April 20: Tata Consultancy Services (TCS) will beef up its healthcare and life science practice in a bid to grab a major share of the Rs 500-crore Indian healthcare market, which is growing at an estimated compounded annual growth rate (CAGR) of 10 to 15 per cent.
The Rs 4,187-crore services company will employ around 450 people in the next 18 months for its healthcare practice. Global IT spending on healthcare solutions is estimated at $ 9.7 billion.
“TCS believes that the healthcare market will grow much faster at a CAGR of around 25 to 30 per cent within the next few years,” says J. Rajagopal, director of global life sciences and healthcare practice.
The TCS Life Sciences practice offers end-to-end solutions with services that range from application development management, outsourcing, systems integration and embedded systems.
The Tata HMS, priced at Rs 25 lakh, caters to the requirements of hospitals with 100 beds and more.
This market, which comprises around 1,000 hospitals, both government and private, is estimated at Rs 250 crore.
The company is also in the process of developing an umbrella software solution for firms involved in biotechnology and genetics industry.
PTI adds: TCS is also developing an end-to-end bioinformatics software package, Biosuit, on Linux platform for which 20 leading Indian institutions have provided the domain knowledge.
The Biosuit project, in collaboration with the Council for Scientific and Industrial Research (CSIR) and supported by the department of biotechnology will roll out the alpha version in May with the full product expected to hit the market in a year, said A S Kolaskar, chairman of the National Task Force on Bioinformatics.