SecureKloud Technologies a Chennai-based IT and cloud solutions company has announced the approval to list its step-down subsidiary Healthcare Triangle Inc on Nasdaq.

HCTI, launched in 2019 with headquarters in Pleasanton, California, is present in the rapidly growing healthcare information technology segment, providing solutions in the areas of cloud services, data science, and professional and managed services for the healthcare and life sciences industry.

Through this IPO, HCTI is raising approximately US $ 15 million including an over-allotment of US $ 2 million. The IPO proceeds will be used for potential acquisitions, working capital, research and development, and general corporate investments.

Bloomberg business report estimates that the global market for healthcare data science and analytics will be a US $ 40 billion by 2025 with a CAGR of 23.5%. To capitalize on this opportunity, HCTI will focus growth through our software as a service (SaaS) subscription model for CloudEz, DataEz and Readabl.AI platforms.

"HCTI listing on Nasdaq is a proud moment for us and we believe this is a once-in-a-lifetime opportunity for a company of this size and nature. Our goal is to become among the top 10 healthcare IT companies in North America and we believe, this will unlock significant value over the next few years," said Suresh Venkatachari, Chairman & CEO, SecureKloud and HCTI.

Thyagarajan R, CFO, SecureKloud and HCTI, stated that Nasdaq is a preferred marketplace for technology companies driving innovation.'' He further added, "Transparency and governance will be our major focus. We believe this listing will enhance visibility and credibility among institutions, clients, and the investing public as we evolve and develop." he added.