IT services and consulting GlobalSpace Technologies signed a memorandum of understanding (MoU) to acquire a 51% ownership stake in InnoPharm Healthcare, tech service provider in pharmaceutical sector, on Thursday.
GlobalSpace Technologies said this strategic move intends to establish a powerhouse of integrated solutions and a unique value proposition for the combined client base, cross-selling opportunities and operational efficiency will drive increased market presence.
“We are solidifying our position in the DTP (Digital – Telecalling – Physical) model,” said Krishna Singh, Chief Executive Officer of GlobalSpace Technologies.
He also said, “The DTP model leveraging our digital assets DocExa and MEDIOLA has already demonstrated a 20% growth for Vintage Pharma MNC brands through a pilot project.”
GlobalSpace Technologies is transforming healthcare with its innovative solutions, analytics, and AI. The company ventured into digital treatments with GoRoga, a one-of-a-kind anti-stress wearable, said the firm.
Earlier this year, United States launched GoRoga, a stress-relieving wearable product, in India with exclusive partners including Globalspace Technologies.
Pharmaceutical businesses are increasing their dependence on AI for drug research, clinical trials, and production. Bloomberg recently described the technology as representing a $50 billion opportunity for the sector.
According to McKinsey Global Institute research, the impact of AI and machine learning on the pharmaceutical business generated approximately $100 billion in the US healthcare system in 2021.
GlobalSpace Technologies, headquartered in New Mumbai, Maharashtra, was initially established in 2010. The company specializes in strategic mobile technology for enterprises, telecom device technology, M Health Solutions, app development, healthcare solutions, and pharmaceutical digitization channels.
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