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Max India to invest Rs 100 cr in IT industry

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CIOL Bureau
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PUNE: Max India, a multi-business corporate, has identified three core

businesses — IT, healthcare and life insurance - as potential areas of further

growth in India. In this regard, Max India has planned to invest nearly Rs 100

crore in the area of information technology.

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Founder of Max India Analjit Singh, who was in Pune to announce the launch of

Max New York Life Insurance, told the CNS that the firm's IT initiative will be

largely driven by leveraging domain knowledge and partnership strengths in the

areas of healthcare, financial services and telecom.

"We are chiefly looking at three areas in the IT sector. These include

software solutions, Web-enabled services and IT enabled services," he said.

Max India had recently acquired 62.46 per cent stake in HealthScribe India

(which till recently was a 100 per cent subsidiary of Healthscribe Inc., USA).

HealthScribe is a pioneer in medical transcription in India and provides both

training and employment for candidates. The firm has invested $7 million for the

22 per cent equity in Alta+ Cast LLC, a US-based IT company specializing in

integrating and migrating legacy applications in the area of healthcare

information systems.

Max India has also invested $4 million for 15 per cent equity stake in

MindCrossing Inc., USA an infrastructure and content provider for e-business.

Max Ateev is yet another initiative from the firm. Max Ateev, an information

application solutions firm that specializes in portal, e-commerce and knowledge

management tools, focuses on Web business to build expertise in the healthcare

and financial sectors and develop competencies in expertise exchanges, B2B

communities and application software development.

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