The WITCH Monthly Monitor
Monthly update on major global IT consulting and services firms in healthcare
August 2020
The WITCH Monthly Monitor provides latest financial and market performance updates on the WITCH companies, along with other global IT consulting firms on a monthly basis.
Highlights for the month
Wipro
Wipro Collaborates with Intel to Drive Business Continuity Wipro collaborates with Intel to enable Wipro’s LIVE Workspace™ (the digital workspace solution with the Intel vPro® platform). This collaboration will help customers drive business continuity by enabling remote IT support and solutions.Infosys
Infosys launched Infosys Cobalt to accelerate their cloud migration and digitally transform their operations. Infosys Cobalt helps businesses redesign the enterprise and build new cloud-first capabilities to create seamless experiences in public, private and hybrid cloud across PaaS, SaaS, and IaaS landscapes.
TCS
New TCS Solution Helps Enterprises Jumpstart Return-to-Work Programs Within Four Weeks
TCS launches TCS Safe Workplace, a return-to-work solution that helps global enterprises quickly transition to a safe, secure and productive work environment. The solution automates the return to work processes, including contact tracing, shift management, and workspace planning.
US court reduces damages in TCS- Epic Systems case, company to appeal
A US appeals court returns verdict on the appeal filed by TCS in a trade secrets suit filed by US software firm Epic Systems against it and reduced the reduced damages to $140 million.
Cognizant
Cognizant to Acquire Tin Roof Software to Expand Digital Engineering Services
Cognizant acquires Tin Roof Software, a software product engineering and consulting firm to expand its software product engineering footprint in the U.S. and software development capabilities.Tin Roof, which is based in Atlanta, Georgia, specializes in digital products for companies to improve customer experiencesand increase revenue.
DXC Technology
DXC Technology Reports First Quarter Fiscal 2021 Results
DXC Technology reports revenue of $4,502 million, a decline of 7.9% YoY for the quarter ended June 30, 2020. Global Business Services increased 0.7% YoY and Global Infrastructure Services decreased 14.8% YoY, reflecting a revenue run-off and the termination of certain customer accounts.
IBM
IBM and Michael J. Fox Foundation develop machine learning model for Parkinson’s
IBM and The Michael J. Fox Foundation (MJFF) develop a machine learning disease progression model as part of further research into Parkinson’s disease. The model aims to help clinicians understand how the disease progresses in relation the emergence of symptoms so they can pinpoint exactly how far a patient’s PD has advanced.
NTT Data
NTT DATA Services to Acquire Acorio, the World’s Largest Pure-Play ServiceNow Consultancy
NTT DATA to acquire Acorio, a ServiceNow Elite Partner, to expand its capacity to drive transformative business outcomes for clients. Acorio is a leader in implementing ServiceNow and its ecosystem to automate workflows and serves Fortune 500 companies across multiple industries, including healthcare, financial services, manufacturing, high tech and retail.
NTT DATA starts demonstrations to extract remote and contactless vital signs using smartphones
NTT DATA adopts the Vital Signs Monitoring Tool developed by Binah.ai for determining contactless vital signs. Together the companies will initiate demonstrations in August and a function of determining vital signs by photographing a human face with a smartphone camera which is then transferred to Health Data Bank® (a health management service by NTT DATA).
Financial Results for the First Quarter of the Fiscal Year ending March 31 2021
NTT DATA reports revenue of $4,936 million, a decline of 13.9% QoQ and growth of 2.9% YoY for the quarter ended June 30, 2020.
Others
Christopher O’Connor, Executive Director and Chief Executive Officer of Persistent Systems resigns from the position citing personal reasons, effective immediately. Christopher departs after a tenure of 18 months with the company, during which time he helped to strengthen operational and offering capabilities to better serve the expanding client base.
mPulse Mobile Announces Closing of Series C Funding of more than $16 Million, Led by Optum Ventures
Optum Ventures along with existing investors led a $16 million in funding for mPulse Mobile, a provider of conversational AI solutions for the healthcare industry. The investment will expand the capabilities of the conversational AI solution, enhance client engagement analytics platform and expand engagement solutions across healthcare verticals.
Lumeon Raises $30M in Funding to Support U.S. Growth
Optum Ventures and Endeavour Vision along with existing investors led a $30M in Series D funding for Lumeon, specializing in care pathway management (CPM). The funding will enable the company to extend the reach of its CPM platform and enable deeper healthcare provider partnerships.
Optum commits $1 million in pro bono services over the next three years to support local community-based organizations servicing the San Francisco Bay Area part of its ongoing strategic relationship with John Muir Health.
Tech Mahindra launches Mhealthy to enable workforce and community safety against COVID-19
Tech Mahindra launches Mhealthy solution which uses AI and machine learning to enable workforce and community safety against COVID-19. Mhealthy enables screening of the individuals at the workplace on a regular interval to check for risk factors of COVID-19, such as comorbid conditions, immunity status, and biomarkers of infection.
