Calsoft acquires 51% stake in US co.

CHENNAI: California Software Co Ltd (Calsoft), based in Chennai has signed a MoU with US-based American HealthNet Inc. (AHN) to acquire 51 percent equity in AHN for an all cash deal of $ one million.






Said Calsoft MD, S Santhosh, "AHN provides integrated enterprise software application to community healthcare organizations. With a growing customer base of over 250 hospitals and clinics, AHN had sales of $6.5 million in 2004 and expects about $ eight million sales in 2005."





With an employee base of 120 in the US, AHN would continue to function as a subsidiary of Calsoft, he said and added that AHN's product 'Clarus' is a cost effective integrated solution, which would provide its target segment of healthcare providers a cost effective integrated solution that meets the HIPAA requirements for FDI, privacy and security.





It is to be noted that this is third such acquisition announcement from Calsoft for this financial year, ending March 2005.