Benzinga | Dec 13, 2021 07:15AM EST

EXCLUSIVE: Healthcare Triangle, Inc. Acquires Electronic Health Record Focused Healthcare IT And Managed Services Company DevCool; Terms Not Disclosed

PLEASANTON, Calif., Dec. 13, 2021 (GLOBE NEWSWIRE) -- Healthcare Triangle, Inc. (HCTI),

a leading provider of Healthcare and Life Sciences cloud transformation, managed services and

data analytics platform company, announced today that it has acquired DevCool, Inc.

("DevCool"), ranked by Inc. 5000 as among the fastest growing private companies in USA in

2021.

DevCool provides EHR Implementation and Managed Services to 6 of the top 10 hospitals in

the USA and specializes in providing services to cancer research hospitals and university

medical centres. The combined entity will focus on accelerating healthcare providers to adopt

cloud technologies in improving clinical, operational, and financial performance. This will open

up significant opportunities for HCTI, a premier partner of AWS, Google Cloud, and Microsoft

Azure, to upsell its SaaS Platforms like CloudEz, DataEz, and Readabl.AI to the existing client

base of DevCool.

"With the acquisition of DevCool, Healthcare Triangle will implement technological

advancements designed to improve hospitals' provisioning of patient care, reduce information

technology costs, and enable faster EHR deployments for hospital clients as part of its strategy

to consolidate its leadership position in the healthcare space. This will further allow clients to

host their EHR on public clouds (Amazon Web Services, Google Cloud, and Microsoft Azure)

with the HCTI's CloudEz Platform and expertise," said Suresh Venkatachari, Chairman and

CEO of Healthcare Triangle, Inc.

He added that, "With the acquisition of DevCool, we will add large health systems and

Integrated Delivery Networks (IDN) to HCTI's client portfolio, and we expect it to be accretive to

EBITDA."

"We see the acquisition of DevCool improving patient outcomes by implementing AI and Data

driven platforms across medical centers and clinical facilities. Healthcare Triangle (HCTI)

expects significant opportunities in cloud transformation services, further growth of data

analytics and AI platforms based recurring revenues in the healthcare domain," said Shibu

Kizhakevilayil, Head of M&A and Board of Director of Healthcare Triangle Inc. "We look forward

to working with Sandeep Deokule and the DevCool team in our continued journey to become a

top 10 healthcare IT company in US," said Mr. Kizhakevilayil.

"We are excited to be part of HCTI, and our goal is to continue helping hospitals innovate and at

the same time keep EHR Managed Services cost lower," said Sandeep Deokule, founder of

DevCool. "DevCool along with HCTI will now be able to scale faster, deliver large scale EHR

implementations, and host applications on the cloud."

About Healthcare Triangle, Inc. (HCTI)

Healthcare Triangle, Inc., based in Pleasanton, Calif., reinforces healthcare progress through

breakthrough technology and extensive industry knowledge and expertise. We support

healthcare organizations--including hospitals and health systems and health plans--as well as

pharma and life sciences organizations, in their efforts to improve health outcomes. Healthcare

Triangle enables the rapid adoption of new technologies, data enlightenment, business agility,

and response to immediate business needs and competitive threats. The highly regulated

healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital

transformation encompassing the cloud, security and compliance, data lifecycle management,

healthcare interoperability, and clinical and business performance optimization. For more

information, visit HealthcareTriangle.com.

Visit www.healthcaretriangle.com for more information.

About DevCool

DevCool, Inc., Fastest Growing Company in USA in 2021 (by Inc. 5000 Magazine) is a trusted

technology and business solutions provider for America's top healthcare organizations by

providing EHR IT Managed Services. DevCool helps to rethink Healthcare delivery models by

combining cutting edge Healthcare IT solutions and EHR Managed Services. For more

information, please visit http://www.devcool.com.