The WITCH Monthly Monitor
Monthly update on major global IT consulting and services firms in healthcare
May 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 names Thierry Delaporte as CEOWipro appoints Thierry Delaporte as the Chief Executive Officer (CEO) and Managing Director (MD) of the company. Delaporte held several leadership positions in his 25 years stint in Capgemini, including the most recent role as Chief Operating Officer of the group (COO).
Infosys
Infosys Partners with Rhode Island in Fight Against COVID-19Infosys partners with the State of Rhode Island to launch a privacy-first contact tracing solution to help people and state officials prevent the spread of Coronavirus cases and slow down community transmission of the disease. The company developed a mobile app called ‘CRUSH COVID RI’ which will utilize Infosys’ Location Based Services platform to create location diary of individuals, while protecting user privacy.
TCS
Digitate Launches ignioâ„¢ AI.Digital Workspace to Transform End-user Workplace ExperienceDigitate, a software venture of TCS, launches ignioâ„¢ AI.Digital Workspace, a self-healing, end-user experience management software that helps employees and service desk teams increase productivity and achieve better business outcomes.
Hired over 20,000 employees in US in last 5 years: TCSTCS has hired over 20,000 employees in the US over the last five years, which has reduced its dependency on H-1B visas.
TCS, Wipro harnesses AI capabilities in fight against covid-19In April, TCS identified 31 potential candidate small molecules using AI which are now being tested in further trials as a potential cure for covid-19. Wipro enables virtualization and automation of clinical development to help their healthcare and life sciences clients advance scientific discovery and bring lifesaving pharmaceuticals to patients. HCL is also working virtual trials leveraging remote patient–doctor visits and digital interactions to ensure a scaled and seamless study.
Cognizant
Cognizant COO Srinivasan Veeraraghavachary to step downCognizant COO, Srinivasan Veeraraghavachary, steps down after nearly two decades at the company.
Cognizant offers its US staff voluntary separation packageCognizant announces a voluntary separation package for 400 mid-to-senior level managers mainly aimed at employees working in the US.
Clinical AI Leader Sensyne Health Launches CVm-Healthâ„¢ ‘Good Neighbor’ App in the United States With Support From Microsoft and CognizantSensyne Health announces the US launch of its web-based COVID-19 focused software application called CVm-Healthâ„¢ – the ‘Good Neighbor’ app. The app was developed with the support of Cognizant and Microsoft.
Cognizant expects to lose between $50m and $70m following ransomware attackCognizant expects its June quarter (Q2) revenue to be negatively impacted by the ransomware incident that took place in April 2020. The company estimates that the attack will cost the firm between $50 million and $70 million for the quarter.
Cognizant Reports First Quarter 2020 ResultsCognizant reports revenue of $ 4,225 million with a growth of 2.8% YoY and a decline of 1.38% QoQ for the quarter ended Mar 31, 2020. Healthcare revenue accounts for $ 1,194 million, a growth of 2.49% YoY driven by growth in the life sciences segment and the contribution of Zenith Technologies.
Cognizant to Acquire Collaborative SolutionsCognizant to acquire Collaborative Solutions, a global consultancy specializing in Workday enterprise cloud applications for finance and human resources. Collaborative Solutions, headquartered in Washington, D.C enables clients across financial services, healthcare, technology, government, education, and other organizations to transform their operations using enterprise cloud applications.
HCL
HCL launches virtual distributed agile framework to boost digital transformationHCL launches a Virtual Distributed Agile framework to enable enterprises accelerate their digital transformation. The platform is capable of digital acceleration even with remote enabled workforce and partner/vendor network.
Fourth quarter and annual results FY 2020HCL reports revenue of $2,543 million with flat QoQ growth and up 11.63% YoY for the quarter ended Mar 31, 2020. Life sciences and healthcare businesses account for $318 million, with an increase of 7.43% YoY and 2.58% QoQ.
Accenture
Accenture appoints Kelly Bissell to Global Management CommitteeAccenture appoints Kelly Bissell, Accenture’s Global Security business lead, to the company’s Global Management Committee.
Accenture Acquires Leading Organization Design Consultancy Kates Kesler to Help Clients Design, Activate and Scale ChangeAccenture acquires Kates Kesler, an organization design consultancy headquartered in New York City that helps many of the world’s largest companies execute on their growth strategies. Kates Kesler’s offerings will expand Accenture’s existing C-suite services including: People Experience, Organization, Leadership & Culture, Work & Workforce, Digital Core, Business & Change Agility, Intelligent Operating Model and Living Systems.
Atos
Atos and Siemens improve drug manufacturing with Process Digital TwinAtos collaborates with Siemens to introduce Digital Twin solution that will optimize drug manufacturing. The solution uses IoT, AI and Advanced Analytics technologies to improve efficiency in pharmaceutical manufacturing.
Atos names Bryan Ireton North America Chief Executive OfficerAtos appoints Bryan Ireton as CEO, North America, effective June 1, 2020. Bryan Ireton joined Atos in February 2020 as head of Infrastructure and Data Management for the North American market.
DXC Technology
DXC Technology Reports Fourth Quarter and Fiscal 2020 ResultsDXC Technology reports revenue of $4,815 million, a decline of 8.81% YoY and 4.10% QoQ for the quarter ended March 31, 2020. Global Business Services (GBS) increased 5.3% YoY with contribution from Luxoft acquisition while Global Infrastructure Services (GIS) decreased 18.8% YoY due to the termination of certain accounts.
IBM
IBM Is Said To Make Far-Reaching Job Cuts Across The U.S.IBM to layoff employees across the United States to streamline its workforce in at least five states.
IBM Unveils New AI Designed to Help CIOs Automate IT Operations for Greater Resiliency and Lower CostsIBM introduces IBM Watson AIOps which uses AI to self-detect, diagnose, and respond to IT anomalies in real time. As part of the rollout, IBM also announces the Accelerator for Application Modernization with AI, within the IBM’s Cloud Modernization service which is designed to help clients reduce the overall effort and costs associated with application modernization.
NTT Data
NTT DATA Introduces Rapid, Secure and Cost-Effective Remote Workforce SolutionsNTT Data introduces new rapid workplace solutions to help clients with improved remote productivity and collaboration, secure operations and optimized costs.
Financial Results for the Fiscal Year ended March 31, 2020NTT Data reports revenue of $5,735 million with a growth of 3.04% YoY and 10.74% QoQ for the quarter ended Mar 31, 2020.
Others
NaviHealth trades hands again with Optum acquisitionOptum acquires naviHealth a Tennessee-based startup focused on developing a platform to help manage post-acute care. NaviHealth currently manages post-acute services for 4.5 million Medicare Advantage members and nine of the top 10 health systems.
Holmusk Announces Closing of US$21.5 Million Series A Funding Round, Led by Optum Ventures & Health Catalyst CapitalHolmusk, a data science and health technology company closed on a $21.5 million Series A round of funding led by Optum Ventures (OV) and Health Catalyst Capital (HCC) and included existing investors Heritas Capital and other individuals. Holmusk, headquartered in Singapore with offices in New York City is developing a Real-World Evidence platform in behavioral health and chronic diseases and the funding will be used to expand in the United States.
Optum Offers Free Online Wellness Program to Help Older Adults Stay Healthy and Active During COVID-19 PandemicOptum launches the Virtual Community Center wellness program to provide older adults across the country free access to online exercise, nutrition, and mental health classes geared for their age group.
Optum Helping People Stay Connected with Needed Behavioral Health Support During COVID-19Optum responds to the need to address behavioral health by expanding the availability of telehealth visits and increasing the number of providers available to see patients virtually. According to company data, 33% of all behavioral health care for Optum members were shifted to telehealth by the end of March.
Persistent Systems reports 5.9% growth in revenue for FY20, crosses a half billion-dollar milestonePersistent Systems reports revenue of $127 million with a growth of 7.4% YoY and a decline of 1.8% QoQ. Persistent Systems won three deals with healthcare providers and partnered with Mount Sinai to explore innovations in AI for clinical research.
Tech Mahindra R&D lab to use AI for researching COVID-19 treatment drugsTech Mahindra to use AI to conduct research and find potential therapeutic drugs for the treatment of COVID-19. The lab also uses a molecular docking approach that enables search for therapeutically potent drugs and molecules in real-time.
