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Hot Pursuit News

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(25 Jun 2024, 15:54)

Tech Mahindra gains on plan of merger with subsidiaries

Tech Mahindra advanced 1.80% to Rs 1,426 after its subsidiaries, Healthnxt and Tech Mahindra Americas (TMA) approved merger of Healthnxt with the company.

Healthnxt and TMA's businesses are complementary, therefore consolidating the organizations will result in synergy of company operations, optimize operating costs, and decrease compliance risk, stated Tech Mahindra.

Healthnxt is a virtual healthcare company that offers fully integrated inpatient experience at home and outsourced services. TMA provides computer consulting, programming support services and IT Management & Consulting Services to customers in various industries including Healthcare.

TMA is a wholly-owned material subsidiary of Tech Mahindra. Healthnxt is wholly-owned subsidiary of TMA and a step-down wholly-owned subsidiary of the company.

The turnover of Healthnxt and TMA for the financial year ended 31 March 2024 is $1.07 million and $1,153.28 million respectivel...

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