The deal is valued at around $500,000, as per the person cited above who did not want to be named. This is the first acquisition by Eli Global in the country and as a part of it, Umesh Lekhi, Mansha Lekhi and Nancy Lekhi from Lekhisoft will join team of Eli.
The acquisition is a strategic move by Eli for its debut in the healthcare sector, especially after the success of Lekhisoft’s ophthalmology hospital management software ‘Netram’ in the international market. The company aims to expand its business with more acquisitions.
Eli’s spokesperson declined to comment anything on the deal.
Lekhisoft is a software development company specialized in hospital management system. The Faridabad-based company provides a complete ophthalmic hospital management software with EMR (electronic medical record) along with paperless hassle-free approach.
Its clientele portfolio includes companies like Narayana Nethralaya, EyeQ, Ludhiana Eye Hospital, Synergy Hospital, Vision For All, Malwa Hospital and others.
Eli India is diversified services company in the healthcare industry in the US and UK. Its services include professional certifications, practice management, EMR/EHR, practice marketing & advertising, reputation management, patient engagement, revenue cycle management, private-pay senior care, compliance, audit and risk management.
US-headquartered Eli Global was founded in 1991, the group employs around 4,000 people in more than 20 locations, and has a group of 40 independent business units.
Eli Global has an excellent investing track record with 35 per cent compound annual growth rate (CAGR) since inception and 43 per cent return on capital employees (ROCE) on investments made since 2001.
Law firm Luthra & Luthra advised Eli Health Solutions on this transaction.
As per a data complied by DEALSTREETASIA, around 70 healthcare companies have raised funding since January of this year. Some of the recent funding in the health-tech space include Bangalore-based Modasta which raised $1.5 million funding from high-networth-individuals (HNIs); Tiyo, a Kolkata-based company, received angel funding; and Medinfi Healthcare also got an angel funding from group of investors.
India: Medinfi Healthcare raises $200k in angel round
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Global health-tech firms see funding traction: Mercom Capital report