Cognizant has snapped up yet another U.S.-based healthcare technology services provider. In a statement issued early Tuesday, the outsourcing giant said it was acquiring Cadient Group, a Pennsylvania-based digital marketing agency with a wide clientele in the life science and healthcare sectors.
Cognizant has not disclosed financial details of the deal, but Indian news agency PTI puts the price tag at $30 million.
This comes just two weeks after Cognizant announced the purchase of TriZetto Corp for US$2.7 billion. Analysts say the acquisition confirms Cognizant’s ambition to capitalize on North America’s lucrative healthcare technology services market.
More than a decade old, Cadient serves a broad spectrum of life sciences companies in the pharmaceutical, biotechnology, consumer health, and medical device industries.
Cadient’s solutions are designed to help companies manage customer experience across multiple channels, maintain quality standards and comply with regulations, and achieve greater return on marketing investments.
Analysts say Cognizant needs Cadient’s assets to endear life sciences companies who, in recent years, have significantly increased their emphasis on web, mobile, and social engagement.
Cognizant already has 200 clients in the healthcare sector that serve 16 of the top 20 U.S. health plans. According to a press release, the company makes $2.6 billion annually from the healthcare sector alone.
Following the acquisition, Cognizant will take on board more than 100 of Cadient’s digital experts. Moreover, Cadeint comes with some important digital platforms, including Reveal, an insights and analytics platform; Immerse, an experiential marketing platform; and OneVoice, an advocacy campaign management platform.
“The life sciences industry is undergoing structural disruption as marketing services enable new digital ways for companies to engage with patients and providers and create compelling user experiences,” said Shankar Narayanan, Vice President and Global Markets Leader of the Life Sciences practice at Cognizant.