SecureKloud Technologies gets approval to list subsidiary on NASDAQ

Through this IPO, HCTI plans to raise a total of USD 15 million including an over-allotment of USD 2 million.

SecureKloud Technologies has announced the approval to list its step-down subsidiary Healthcare Triangle Inc™ (HCTI) on NASDAQ, marking a milestone moment for the Chennai-based IT and cloud solutions company.

HCTI was launched in 2019 with headquarters in Pleasanton, California. It is gaining momentum in the rapidly growing healthcare information technology segment, providing solutions in the areas of cloud services, data science, and professional and managed services for the healthcare and life sciences industry. The company reinforces healthcare progress by enabling the adoption of new technologies, data enlightenment, business agility and response to the immediate business needs of healthcare organizations.

Through this IPO, HCTI plans to raise a total of USD 15 million including an over-allotment of USD 2 million. The IPO proceeds will be utilized for potential acquisitions, working capital, research and development, and general corporate investments.

The company in a filing with the exchange said that, “We believe there is a large, addressable healthcare market opportunity of USD 300 billion remaining in our core business and significant market share to achieve. Bloomberg business report estimates that the global market for healthcare data science and analytics will be USD 40 billion by 2025 with a CAGR of 23.5 per cent. To capitalize on this opportunity, HCTI will focus growth through our software as a service (SaaS) subscription model for CloudEz, DataEz and Readabl.AI platforms.”

SecureKloud Technologies is a leading global IT business transformation, secure cloud solutions and managed services provider company. They help companies to improve their business outcomes by accelerating digital transformation on the cloud, security and compliance, data enlightenment, empowering business agility and accelerating the value of their IT investments.

SecureKloud’s share price recorded a new 52-week high of Rs 232.90 per share on the bourses during early market hours on October 13, 2021.