The revenue of Cognizant Technology Solutions Corp healthcare business surged about 43 per cent in the 1st quarter to $879.1 million which accounts for nearly a third of Cognizant’s total revenue. The company by acquiring TriZetto Corp, healthcare IT services provider, as expects its healthcare business to drive growth this year. The companies with health care business and strong digital platforms are expected to grow solidly.
Moshe Katri, Cowen & Co analyst said, “The pharma segment is experiencing a spending recovery while the healthcare providers seems to be spending more, reflecting increased clarity on Affordable (Healthcare) Act”. Cognizant acquired Cadient Group last year which provides digital marketing services for the healthcare industry and Odecce which provides online and mobile services in two countries. After this promising revenue, the profit forecasted for this year has been raised.