The WITCH Monthly Monitor
Monthly update on major global IT consulting and services firms in healthcare
November 2019
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.Â
Highlights for the month
Wipro
Wipro Promotes CFO, BPS Head to President
Wipro makes several promotions at the senior level. CFO Jatin Dalal and business process services (BPS) Head Nagendra Bandaru are elevated as Presidents. The company also promotes six vice presidents to the level of senior vice presidents.
Infosys
Infosys Makes Strides Toward Closing Skills Gap in Indiana
Infosys announces an important milestone in the construction of its U.S. Education Center in Indianapolis and the hiring of over 500 Americans in Indiana since March 2018.
Infosys CEO Hit by More Charges in Second Whistleblower Letter
Infosys receives a second whistleblower complaint accusing its CEO Salil Parekh of committing misdeeds and urged the Chairman and directors to act against Parekh.
Infosys to Fire Thousands of Employees at Middle, Senior Levels for Cost Cutting: Report
Infosys is reportedly laying off as many as 10,000 employees at the middle and senior level employees in order to cut costs. Job cuts are also expected at the senior executive level.
TCS
TCS Launches Microsoft Business Unit to Help Enterprises Leverage AI, ML
TCS sets up a new Microsoft Business Unit (MBU) that offers a full complement of services and solutions around Microsoft technologies. The unit will leverage the company’s domain knowledge across industries and help enterprises to better leverage technologies like artificial intelligence, automation, and cloud.
TCS Plans to Remove Digital Classification from Its Business
TCS plans to remove the digital classification in its business as digital is increasingly becoming part of most deals and the firm may switch back to traditional segmentation of services.Â
Cognizant
The Cognizant U.S. Foundation announces a $1.25 million grant to the Aspen Institute Future of Work Initiative to support four major U.S. cities, Chicago, Charlotte, Phoenix, and Hartford, in advancing local policy, training, and education initiatives to support worker competitiveness and career longevity.
Sensyne Health, a clinical AI technology company, plans to bring launch and sell its digital health software products in the United States by partnering with Cognizant and data infrastructure specialist Agorai. The initial products that will be exclusively sold in the United States are GDm-Health, for the management of gestational diabetes; EDGE, for the management of COPD; and Support-HF, for the management of heart failure.Â
Job Cuts, ‘No Increments’: Read Cognizant CEO’s Letter to Employees
Cognizant to layoff as many as 10,000 to 12,000 mid-to-senior level employees in the coming months and exit content moderation business which will, in turn, affect another 6,000 employees. The company is also delaying increments and promotions to senior employees.Â
HCL
HCL Technologies and Google expand their cloud partnership and launch a dedicated Google Cloud Business Unit to accelerate enterprise cloud adoption worldwide. As part of the partnership, HCL will work with Google Cloud as a preferred enterprise cloud provider for select industries including healthcare.
Accenture
The Medical Alley Association, a non-profit group, collaborates with Accenture to lead phase one of the Healthcare Transformation Initiative at Medical Alley (HTI–MA), a campaign that will redefine the course of healthcare. The initiative is an effort to bring together leaders from all sectors of healthcare to develop an in-depth analysis of the existing market dynamics and the roadblocks to the adoption of value-based care.
Accenture Names Penelope Prett Chief Information Officer, Succeeding Andrew Wilson
Accenture appoints Penelope Prett as Chief Information Officer, effective December 1, 2019. Prett succeeds Andrew Wilson, who will remain with the company through January 2020. Prett is currently a senior managing director and global quality andrisk lead for Accenture’s Resources operating group.
Atos
Communication from Atos’ Board of Directors
The Board of Directors officially accept the resignation of Mr. Thierry Breton, Chairman and Chief Executive Officer of Atos SE as of October 31, 2019. The company appoints Bertrand Meunier as non-executive Chairman of the Board of Directors and Elie Girard, currently Deputy Chief Executive Officer, as Chief Executive Officer as of November 1st, 2019.
Deloitte
Deloitte and Google cloud collaborate to develop new solutions and services for complex, cross-industry problems across multiple industries including life sciences. These include solutions for improving biomedical and clinical research and to support migrations of SAP workloads to Google Cloud.
Deloitte Launches Converge HEALTH Connect at Dreamforce 2019
Deloitte launches Converge HEALTH Connect powered by Salesforce Health Cloud. ConvergeHEALTH Connect is a suite of products and services designed to improve the digital patient experience for providers, payers, life sciences organizations and public agencies.
DXC Technology
DXC Technology Planning to Divest Three of Its Businesses
DXC Technology plans strategic alternatives and possible divestitures for three of its businesses. The businesses include the United States, state, and local health and human services business; horizontal business process services business; and its workplace and mobility business which together represent about 25% of DXC’s total revenue.
DXC Technology Reports Second Quarter Fiscal 2020 Results
DXC Technology reports revenue of $4,851 million, a decrease of 3.2% YoY for the quarter ended September 30, 2019. Continued decline in traditional infrastructure business and currency headwinds affected revenues.
DXC Technology acquires Virtual Clarity, a provider of IT-as-a-Service (ITaaS) transformation advisory services to expand its digital transformation services. Virtual Clarity, with offices in London and New York​, provides services to large and medium enterprises in industry verticals including Financial Services, Healthcare, Manufacturing, and Telecommunications.
DXC Technology Appoints New Leader to Client Account Management Role in Americas Region
DXC Technology appoints David Swift as Vice President, Client Account Management, in the company’s Americas region, effective December 2, 2019. Swift previously served as Chief Service Officer at Accolade, a provider of personalized health and benefits solutions.
DXC Technology Appoints Industry Leader Vinod Bagal to Global Delivery Transformation Role
DXC Technology appoints Vinod Bagal as EVP, Global Transformation, effective immediately. Bagal will focus on delivery excellence, including process improvements; the introduction of new delivery capabilities to provide DXC people with new career paths and skill development; and the use of new technologies to automate delivery processes.Â
IBM
IBM Watson Health, Aetion Partner to Advance Biopharma Research
IBM Watson Health and Aetion develop an integrated solution focused on advancing the use of real-world evidence to evaluate the safety and effectiveness of new medical treatments for small and mid-sized biopharmaceutical companies.
NTT Data
Financial Results for The Second Quarter of The Fiscal Year Ending March 31, 2020
NTT Data reports revenue of $5132 million (¥550,543 million) with growth of 7% QoQ for the quarter ended September 30, 2019. No public information on the healthcare business.
Others
UST Global acquires Contineo Health, a healthcare technology consulting firm specializing in EHR optimization and a partner to over thirty major hospital systems across the United States of America.
UnitedHealth Group Promotes Optum CEO to Group President
Optum’s CEO Sir Andrew Witty to serve as President of UnitedHealth Group. In the new position, Witty oversees business strategy and development among other duties while continuing as CEO at Optum.Â
Tech Mahindra acquires New York-based BORN Group for $95 million
Tech Mahindra acquires BORN Group, a New York-based digital content and production agency, for $95 million to enhance their capabilities in digital customer experience services. BORN Group offers end-to-end digital engagement, such as strategy consulting, content creation, digital production, eCommerce and CMS (Content Management System) implementations and data driven UX.
Tech Mahindra Q2 Revenue Up 4.8% QoQ
Tech Mahindra reports revenue of $1287 million, an increase of 3.25%QoQ for the quarter ended September 30, 2019. The company secured a contract with one of the largest US healthcare organization to digitize their IT operations.
Persistent Systems Reports $125.5 Million Revenue, 4.9% Q-o-Q Growth for Q2FY20
Persistent Systems reports revenue of $125.5 million with growth of 4.9% QoQ for the quarter ended September 30, 2019. The company had two key wins in the healthcare and life sciences vertical, one to develop care-coordination platforms for a leading US-based healthcare platform provider and another for digitizing referral management and clinical services authorization process for a US-based not-for-profit, healthcare delivery system.
Optum Acquires Remote Patient Monitoring Company Vivify Health
Optum acquires Vivify Health, a Texas based remote patient monitoring company. Vivify Health delivers a cloud-based device-agnostic, and ecosystem-connected remote care management platform.
