Why CareTech Sold to HTC Global Solutions
CareTech Solutions, a veteran health IT outsourcing firm in Troy, Mich., with about 220 hospital, health system and large group practice clients across the nation, has a new owner.
CareTech Solutions, a veteran health IT outsourcing firm in Troy, Mich., with about 220 hospital, health system and large group practice clients across the nation, has a new owner.
HTC Global Services, which offers IT application and outsourcing services to multiple industries in the United States, Canada, Europe, Australia and Asia, has acquired CareTech for an undisclosed sum. Both companies offer IT implementation and support services outside of an outsourcing contract, but the bulk of their businesses are partial or total outsourcing.
Now, HTC is significantly expanding its U.S. footprint through CareTech, which has won four Best in KLAS awards for full outsourcing services and two awards for partial outsourcing. HTC, which primarily serves a variety of insurers in the U.S., has had a very small presence in the healthcare industry, none of which included outsourcing. The company sees the acquisition as an investment in a large and growing industry, says Jim Giordano, president and CEO at CareTech.
The companies have complementary offerings that CareTech now can take advantage of, Giordano adds. In the past, CareTech has had inquiries from prospective clients in other nations but could not accept. Now it has new access to capital and an opportunity to expand its geographic footprint, as well as boost current services. For instance, CareTechs service desk has a need for 140 more staff members and soon will add them.
However, what CareTech really gets from HTC is access to more technologies and expertise, particularly in the areas of mobile apps and web developers. Asked if mobile services were a weakness, Giordano responds, I dont know if it was a weakness, but this will give us an opportunity to play a lot more in that space.
CareTechs forte has been in handling infrastructure and now HTC capabilities also will give them the opportunity to get deeper into application services.
HTC already has an office in Troy, Mich., near CareTech, which will retain its leadership and brand name, and operate as a wholly owned subsidiary of HTC.
HTC Global Services, which offers IT application and outsourcing services to multiple industries in the United States, Canada, Europe, Australia and Asia, has acquired CareTech for an undisclosed sum. Both companies offer IT implementation and support services outside of an outsourcing contract, but the bulk of their businesses are partial or total outsourcing.
Now, HTC is significantly expanding its U.S. footprint through CareTech, which has won four Best in KLAS awards for full outsourcing services and two awards for partial outsourcing. HTC, which primarily serves a variety of insurers in the U.S., has had a very small presence in the healthcare industry, none of which included outsourcing. The company sees the acquisition as an investment in a large and growing industry, says Jim Giordano, president and CEO at CareTech.
The companies have complementary offerings that CareTech now can take advantage of, Giordano adds. In the past, CareTech has had inquiries from prospective clients in other nations but could not accept. Now it has new access to capital and an opportunity to expand its geographic footprint, as well as boost current services. For instance, CareTechs service desk has a need for 140 more staff members and soon will add them.
However, what CareTech really gets from HTC is access to more technologies and expertise, particularly in the areas of mobile apps and web developers. Asked if mobile services were a weakness, Giordano responds, I dont know if it was a weakness, but this will give us an opportunity to play a lot more in that space.
CareTechs forte has been in handling infrastructure and now HTC capabilities also will give them the opportunity to get deeper into application services.
HTC already has an office in Troy, Mich., near CareTech, which will retain its leadership and brand name, and operate as a wholly owned subsidiary of HTC.
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