Genpact eyes acquisitions in insurance healthcare

Written By Unknown on Rabu, 20 Agustus 2014 | 21.03

Despite Cognizant cutting its guidance, Genpact has raised its revenue guidance for the fiscal  led by an uptick in North America and its acquisition of Pharmalink earlier this year.

In a CNBC-TV18 exclusive, the US-based firm's CEO NV Tiger Tyagarajan says that the BPO major is on the prowl for more acquisition targets in the healthcare and insurance space.

Below are excerpts from the interview:

Q: You have hiked your full year revenue growth guidance forecast from $2.22-$2.26 Bn earlier to $2.4-$2.28 Bn this quarter. What gave you the confidence to hike guidance at a time when there are evident challenges in the industry?

A: We expect global client growth to actually be better next year than this year and that is really about us investing and driving the pipeline and signing some of these big deals.

The contribution of revenues that we are going to get for the second half of the year from that acquisition was really what led us to increase our expectation for the year. So, it was less about our view about the year changing it was more about an addition to the portfolio.

Q: Some of your peers have cut their guidance for the full year citing challenges in individual contracts, citing challenges in UK specifically, do you agree with that? Is Europe still struggling and what are your clients telling you right now?

A: For us Europe has been a growth geography probably now for the fourth consecutive year. I expect this year to be similar to many of the earlier three years where Europe continues to do very well for us.

For us, Europe starts off with a smaller base than the US and therefore it is easier to drive growth on a smaller base. Plus in many of the types of work that we do Europe has been behind the US in terms of taking some of the actions that are needed for the kind of work that we do.

We have seen over the last 3 or 4 years some of those actions accelerating in Europe so that has been good for us.

Q: You have completed your Pharmalink's acquisition going forward what are the areas that could be open to acquisition? What are your targets, what are your geographies, what are your vertical targets as well?

A: I have already talked about our geographic focus in terms of markets, obviously some of the acquisitions that we would do would have delivery from some of our delivery locations that we have always considered to be great delivery locations, India, Philippines, China, Eastern Europe, Latin America as well as US and European onshore and Japan onshore. So, that is the delivery and market side.

When it comes to industry verticals, we have a set of industry verticals that we are very focused on. I would pick insurance as an example where if we find the right capabilities in certain specific services in insurance that we like that would be a great opportunity and we continue to look for them.

Healthcare is another vertical for us.


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