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Tech Mahindra picks up stake in US-based VitalTech Holdings

Mumbai: Tech Mahindra Ltd said Thursday it has agreed to acquire a minority stake in Texas, US-based health-tech startup VitalTech Holdings Inc. as part of efforts to strengthen its healthcare software services business.

The investment will help the company’s healthcare customers in their digital transformation journey, Tech Mahindra said in a stock-exchange filing.

The IT company, part of the diversified Mahindra Group, will first invest $3 million (Rs crore) in VitalTech for a 6.03% stake. It also has an option till January 2021 to buy another 8% stake in the company for $5 million.

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