HCLTech and Olympus expand partnership for advanced and affordable healthcare
HCLTech Share Price | HCLTech and Olympus have expanded their partnership to enable advanced and affordable healthcare for patients through cutting-edge engineering technologies, the company said. The two companies share a decade-long partnership in engineering and R&D, spanning product engineering, software engineering, product sustenance, risk and regulatory services.
HCLTech on Wednesday, June 12, said it will establish a dedicated product innovation centre in Hyderabad to serve global medtech firm Olympus' operations across US, Europe, Middle East and Africa.
It is expected to begin operating from July 2024.
HCLTech and Olympus have expanded their partnership to enable advanced and affordable healthcare for patients through cutting-edge engineering technologies, the company said. The two companies share a decade-long partnership in engineering and R&D, spanning product engineering, software engineering, product sustenance, risk and regulatory services.
"HCLTech will leverage its global leadership in engineering and R&D services along with artificial intelligence-based solutions to provide speed and scale to Olympus'global product development journey," the company said.
Andre Roggan, the chief technology officer at Olympus, said he is confident the collaboration will enhance Olympus' engineering capabilities and unlock new innovations that enable quality healthcare through technology.
On another note, HCLTech on Tuesday, June 11, said it has signed a deal worth $278 million with Germany's largest cooperative primary bank — Deutsche Apotheker-und Ärztebank eG (apoBank).
HCLTech will help apoBank achieve an outcome-oriented managed services model that delivers resilient, scalable, high quality and compliant digital foundation services, enabling apoBank to deliver fast and secured banking services to its customers.
Morgan Stanley has an 'overweight' rating on HCLTech with a target price of ₹1,650 per share. It says Tuesday's deal signifies two things — the large deal win momentum in the financial services vertical is continuing in the first quarter of the ongoing fiscal and there is significant expansion of an existing client relationship beyond just application to cloud and infrastructure services.
The brokerage said that in absence of any signs of a pick up in discretionary spending, it believes announcements of large deals provide incremental comfort on the company's ability to achieve its full-year revenue guidance.
The company has guided for 3-5% FY25 growth. "The external environment and the amount of discretionary runoff that happened in FY24, we have assumed exactly the same numbers for this year and 3-5 is our guidance," HCLTech MD and CEO, C Vijayakumar, told CNBC-TV18 in April.
The stock ended 0.65% higher at ₹1,428 apiece on Tuesday, June 11.
It is expected to begin operating from July 2024.
HCLTech and Olympus have expanded their partnership to enable advanced and affordable healthcare for patients through cutting-edge engineering technologies, the company said. The two companies share a decade-long partnership in engineering and R&D, spanning product engineering, software engineering, product sustenance, risk and regulatory services.
"HCLTech will leverage its global leadership in engineering and R&D services along with artificial intelligence-based solutions to provide speed and scale to Olympus'global product development journey," the company said.
Andre Roggan, the chief technology officer at Olympus, said he is confident the collaboration will enhance Olympus' engineering capabilities and unlock new innovations that enable quality healthcare through technology.
Meanwhile, Hari Sadarahalli, the corporate vice-president and head of engineering and R&D services at HCLTech, said, "HCLTech is focused on bringing together the best of technology and its people to supercharge progress for its clients."
On another note, HCLTech on Tuesday, June 11, said it has signed a deal worth $278 million with Germany's largest cooperative primary bank — Deutsche Apotheker-und Ärztebank eG (apoBank).
HCLTech will help apoBank achieve an outcome-oriented managed services model that delivers resilient, scalable, high quality and compliant digital foundation services, enabling apoBank to deliver fast and secured banking services to its customers.
Morgan Stanley has an 'overweight' rating on HCLTech with a target price of ₹1,650 per share. It says Tuesday's deal signifies two things — the large deal win momentum in the financial services vertical is continuing in the first quarter of the ongoing fiscal and there is significant expansion of an existing client relationship beyond just application to cloud and infrastructure services.
The brokerage said that in absence of any signs of a pick up in discretionary spending, it believes announcements of large deals provide incremental comfort on the company's ability to achieve its full-year revenue guidance.
The company has guided for 3-5% FY25 growth. "The external environment and the amount of discretionary runoff that happened in FY24, we have assumed exactly the same numbers for this year and 3-5 is our guidance," HCLTech MD and CEO, C Vijayakumar, told CNBC-TV18 in April.
The stock ended 0.65% higher at ₹1,428 apiece on Tuesday, June 11.
(Edited by : SonalMohan Jadhav)
First Published: Jun 12, 2024 8:37 AM IST
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