The WITCH Monthly Monitor
Monthly update on major global IT consulting and services firms in healthcare
July 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 to launch 5G edge services solutions suite
Wipro to launch 5G edge services solution suite (built with IBM TRIRIGA and IBM Edge Application Manager) to enhance Wipro’s existing BoundaryLess Enterprise – Universal Edge portfolio. The 5G edge services solutions suite integrates various edge computing solutions for various industries including healthcare.
Wipro partners with ComplianceQuest to provide quality management solutions
Wipro partners with ComplianceQuest to develop transformative quality management solutions for the medical devices and life sciences industries. The joint solution will enable medical devices and pharmaceutical companies to meet their quality, safety, and compliance goals.
Results for the Quarter ended June 30, 2020 under IFRS
Wipro reports revenue of $1,974 million, a decline of 5.3% QoQ and 7.5% YoY for the quarter ended June 30, 2020. Healthcare and life sciences account for $259 million with a decline of 4.4% QoQ.
Infosys
Financial Results for the First Quarter ended June 30, 2020
Infosys reports revenue of $3,121 million, decline of 0.3% YoY and 2.4% QoQ for the quarter ended June 30, 2020. Healthcare and life sciences segment accounts for $208 million with a growth of 2% QoQ.
TCS
TCS Demonstrates Operational Resilience While Positioning for Growth Recovery
TCS reports revenue of $5,059 million a decline of 7.1% QoQ and 7.8% YoY. The Life sciences and healthcare segment accounts for 9.6% or $486 million with a growth of 1.38% QoQ, the only segment among other verticals to witness growth.
TCS Debuts AI-Powered Software to Help Businesses Overcome Challenges of Reopening Amid COVID-19
TCS launches IUX for Workplace Resilience, a business command center solution that helps enterprises to enable employees to safely return to work. The solution helps overcome reopening challenges with key business relaunch functions spanning workforce safety, regulatory support, operational resilience, and customer engagement.
Cognizant
Cognizant to Acquire New Signature, a Leader in Cloud-Native Business Transformation
Cognizant to acquire New Signature, an independent Microsoft public cloud transformation specialist. The acquisition will expand Cognizant‘s hyperscale cloud advisory services and provide a foundation for a new, dedicated group within Cognizant centered on Microsoft cloud solutions.
Verizon, Microsoft Launch Joint Platform For IoT Application Development
Verizon and Microsoft Azure develop a joint platform ThingSpace for the development of IoT applications and Cognizant is an early adopter. Cognizant will leverage the platform to develop its own IoT-enabled application for the management and use of cold storage to support pharmaceutical and food and beverage industries. This allows temperature-sensitive products to be monitored and ensure product integrity from shipping through to the consumer.
Cognizant appoints Anil Cheriyan as new Executive Vice President of Strategy & Technology
Cognizant appoints Anil Cheriyan, the former director of technology transformation of the US government as its new Executive Vice President of Strategy and Technology, effective August 3, 2020. Cheriyan will oversee the company’s global IT, security, strategy, alliances, and business development functions.
Cognizant Shared Investigator Platform (SIP), a life sciences Software as a Service (SaaS) solution reaches a new milestone of over 100,000 users in 84 countries. With the new social distancing norms, the platform has become increasingly important for clinical trials. The platform links clinical trial sponsors and medical professionals by leveraging automation and remote access technology.
HCL
HCL reports revenue of $ 2,356 million, a decline of 7.4% QoQ and 0.3% YoY for the quarter ended June 30, 2020. Healthcare and life sciences segment accounts for 13.7% or $323 million, a growth of 1.54%.
Roshni Nadar takes charge at HCL Technologies
Shiv Nadar, Chairman and Founder stepped down and the company’s Board of Directors appoint his daughter, Roshni, as the new Chairperson effective immediately.
Atos
Atos eliminates the last barriers to public Cloud with new Digital Cloud Services
Atos launches the new Digital Cloud Services an evolution of the Atos Managed Public Cloud Services in collaboration with Amazon Web Services, Google Cloud Platform, and Microsoft Azure. It combines the flexibility and cost-effectiveness of public cloud with services focused on application modernization and Cloud-based data analytics.
Atos launches open innovation accelerator program for startups and SMEs with strong industry focus
Atos launches “Scaler, the Atos Accelerator”, its new program for startups and SMEs to co-develop innovative digital solutions for clients in specific industries and support security and decarbonization strategies.
Deloitte
Chronicled partners with Deloitte for blockchain in life sciences and healthcare
Deloitte partners with Chronicled, a US-based provider of blockchain platforms for smart supply chains to bring blockchain-based solutions to life sciences and healthcare. The companies will leverage technology and solutions powered by Chronicled’s MediLedger Network, a blockchain-enabled network for the life sciences industry to help fight counterfeits and fraud in the medication used for the treatment of COVID-19.
Deloitte Names Asif Dhar Leader of the US Life Sciences and Health Care Industry
Deloitte appoints Asif Dhar, M.D. to lead its life sciences and health care (LSHC) practice in the United States effective immediately. Dhar succeeds Doug Beaudoin, who was recently appointed Deloitte’s U.S. chief information officer.
DXC Technology
DXC Technology to sell its healthcare software provider business to privately held Dedalus Group, a European health IT and diagnostics specialist for $525 million in cash.
DXC Identifies Ransomware Attack on Part of its Xchanging Environment
A ransomware attack hit certain systems at DXC Technology‘s Xchanging subsidiary which supports the commercial insurance industry. DXC has implemented a series of containment and remediation measures to resolve this situation.
IBM
IBM Reports 2020 Second-Quarter Results
IBM reports revenue of $18.1 billion, a decline of 5.4% YoY for quarter ended June 30, 2020. Cloud & Cognitive Software revenue accounts for $5.7 billion with growth of 3% and Systems accounts for $1.9 billion growing at 6% YoY.
How IBM Watson supercomputers are speeding up the search for a COVID-19 vaccine
IBM Watson has been deployed in universities, companies, and medical organizations across the globe to help accelerate the search for a COVID -19 vaccine.
NTT Data
NTT DATA’s Artificial Intelligence Solution Predicts Risk for Early Onset of Chronic Diseases
NTT DATA announces that its AI solution to make early predictions of patients at-risk of certain chronic diseases which may be critical in enabling early and effective prevention.
NTT Data collaborates with Teladoc Health, Enli, and VisitPay to form Nucleus for Healthcare, a digital healthcare framework for virtualizing the patient care experience. Nucleus for Healthcare is powered by NTT DATA’s cloud-based enterprise platform, which provides analytics, automation, and systems integration capabilities.
Others
Perficient Reports Second Quarter 2020 Results
Perficient reports revenue of $146.3 million, a growth of 3% QoQ for the quarter ended June 30, 2020. Healthcare and life sciences accounted for 32% or $47 million , a growth of 6.82% Q0Q.
Persistent Launches Center of Excellence Accelerating Hybrid Cloud Journeys with Red Hat OpenShift
Persistent launches Red Hat Center of Excellence (CoE) for Red Hat OpenShift. This center allows clients to accelerate their digital transformation efforts across public cloud providers like AWS, Microsoft Azure, Google Cloud Platform, and IBM Cloud.
Tech Mahindra Q1’21 PAT Up 20.9%
Tech Mahindra reports revenue of 1,207 million, a decline of 6.7% QoQ and 3.2% YoY for the quarter ended June 30, 2020. The company was engaged by a large U.S. healthcare company as a managed service partner for IT operations.
Persistent Systems reports $131million revenue with a growth of 3.1% Q-o-Q and 9.5% Y-o-Y for Q1FY21
Persistent reports revenue of $131.02 million with a growth of 3.1% QoQ and 19.1% YoY for the quarter ended June 30, 2020. In healthcare and life sciences, the company won some important deals with a pharmacy benefits manager, drug and medical device database provider, integrated healthcare provider and insurance company.
SuperCare, Optum collaborate on telemonitoring
Optum collaborates with SuperCare to help develop a COVID-19 telemonitoring program that allows asymptomatic patients to be monitored and recover in their homes.
Optum Q2 revenue up 16.7%, hits $32.7B: 5 things to know
Optum reports revenue of $32.7 billion, with a growth of 16.7% YoY for the quarter ended June 30, 2020. OptumHealth accounts for $9.1 billion and OptumInsight accounts for $19.4 billion.
Optum partnered with Boulder Community Health (BCH) to help BCH advance its clinical and operational performance. Optum will provide services to manage data and analytics, revenue cycle management, and care coordination.
Truepill Raises $25 Million in Series B Funding Round
Optum participates in a $25m Series B funding round for Truepill, a California-based company building patient experiences through its API-connected healthcare infrastructure. The company will use funds to expand the adoption of its direct-to-patient healthcare solutions and continue growing its product offerings.
