Cognizant Technology Solutions (NASDAQ: CTSH), a leading provider of IT services, today announced that the Company has been ranked the 21st largest healthcare IT provider by Healthcare Informatics magazine in their 13th annual survey of major healthcare information technology providers.
Cognizant jumped 14 places from last year's ranking, based on revenue from healthcare customers, and was the 5th fastest growing company by revenue growth, with a 51% year-over-year increase. Cognizant has been included on this list for the 4th consecutive year.
"As a leading partner to several of the world's largest healthcare companies, we have witnessed increased adoption of information technology as a strategic differentiator," said Krish Venkat, General Manager and Head, Cognizant Healthcare and Life Sciences Practice. "Our focus is to increase value well beyond traditional cost savings for outsourcing implementations and deliver complete offshore solutions that enable our clients to improve customer processes, streamline business operations and achieve their strategic objectives.
"We are delighted to be included on this list of the top healthcare IT providers," said Lakshmi Narayanan, President and CEO, Cognizant. "Our growth and success in the healthcare market is the result of the increased trust that we are earning from our customers as they engage with us more deeply via our consulting and domain expertise-centered approach to IT services."
Cognizant's Healthcare Practice is a strategic partner to leading healthcare and life sciences organizations and helps them navigate today's dynamic healthcare environment by delivering high value IT and business solutions across the healthcare spectrum -- pharmaceuticals, biotechnology, medical devices, payers and providers organizations. Leveraging its industry domain expertise, technical depth, and global talent pool of over 5,000 healthcare-focused associates, Cognizant's Healthcare Practice provides comprehensive solutions covering healthcare IT consulting, transformation services, process optimization/reengineering, business process outsourcing, IT infrastructure services management, IT strategy consulting, regulatory compliance services, and IT applications development and management. Cognizant's customers include 7 of the top 10 life sciences organizations, 3 of the top 4 leading national payers and several other leaders in the industry.
To read about the Healthcare Informatics 100 rankings, please visit: http://healthcare-informatics.com/issues/2006/06/23/.
Cognizant (NASDAQ: CTSH) is a leading provider of IT services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant uses its own on-site/offshore outsourcing model to provide applications management, development, integration, and reengineering; infrastructure management; business process outsourcing; and numerous related services, such as enterprise consulting, technology architecture, program management, and change management.
Cognizant's more than 28,000 employees are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and on-site client teams. Cognizant maintains P-CMM and SEI-CMM Level 5 assessments from an independent third-party assessor, was recently named one of Forbes' Best Small Companies in America for the fourth consecutive year, and ranked among the top information technology companies in Business Week's Hot Growth Companies. Cognizant is a member of the NASDAQ-100 Index. Find additional information about Cognizant at http://www.cognizant.com/.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE: Cognizant Technology Solutions
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