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PUNE: Optra Systems, a specialist in life science and imaging informatics, has sealed a partnership under the TCS Co-innovation Network (COIN), through which TCS will expand its healthcare portfolio.
The two companies will join hands for co-creation of solutions like Image Informatics system, the first of which will go in beta stage by April.
The deal will help Optra expand its foothold in the North American market, which makes up 40 per cent of the total global market.
The medical imaging market here is pegged to rise to $8.4 billion and the life science imaging market to $4.1 billion by 2011.
Both the companies will also start joint bidding for projects in this space. The global market size for imaging tools and informatics solution is $5.75 billion with a growth rate of 11.9 per cent and the North American market constitutes $2.3 billion.
The output would basically be a solution framework, over which the two companies will customize and add consultancy as per individual customer requirements.
TCS expects to touch $1 million this year in this new space to be jointly tapped by both. Optra plans to double its topline and customers in America.
Other markets like Japan and Europe would also be explored. Optra would also look at offering services in the CRO market in future.
Abhi Golap, president and CEO, Optra Systems said that while each of the partners has already some capabilities in place in this area, the partnership will help bring network advantages from TCS and technical bio-medical and informatics expertise from Optra.
Commenting on the IP and business contours of the deal, he said, "For contract research customers, the IP belongs to the customer only. IP otherwise, can be jointly shared in other cases. We are putting a go-to-market strategy together."
This could be a stepping-stone for a broader strategic alliance or an equity stake by TCS in Optra. For now, TCS expects to stretch the six per cent contribution to its revenues that comes from life science vertical.
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