Tata Consultancy Services (TCS) on July 19 announced that US-based medtech giant GE HealthCare Technologies has expanded its long-standing partnership with the IT services major to drive the digital transformation of its global IT function.
This deal renewal will be a shot in the arm for TCS in North America, which is currently witnessing uncertainties due to macroeconomic headwinds. While the company did not disclose any financials of the deal, according to sources, this is going to be a large deal for TCS coming in the range of $100 million -500 million.
Under this collaboration, TCS will take charge of the development, maintenance, rationalization, and standardization of GE HealthCare's enterprise IT applications. In a press statement, TCS added that the objective is to leverage advanced software engineering practices, artificial intelligence, and digital technologies to achieve faster value realization, operational resilience, and enhanced productivity.
Further, by collaborating with TCS, GE HealthCare aims to address evolving patient needs, support medical technology research, and invest in distinct care solutions.
As per the statement, the expanded partnership will help deliver intelligent care solutions to over one billion patients across more than 160 countries.
Anupam Singhal, Business Head, Corporate Accounts, TCS, said, "The goal is to help GE HealthCare develop innovative healthcare products and services that enhance patient outcomes while modernizing and supporting their existing application estate."
In 2023, TCS reported some of its very large deals of $700 million plus in the United Kingdom region. So far, it has bagged a $723-million deal from insurer Phoenix Group, the Marks & Spencer deal, a 10-year contract with the Teacher’s Pension Scheme in England and Wales and a $1.1 billion deal from UK's National Employment Savings Trust. TCS also won another deal from Phoenix Group's subsidiary last month.
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