Bangalore: Wipro on April 16 launched Wipro Healthcare and Life Science Services to address the requirements of the Bio-IT market, where Information Technology converges with Life Science.

Announcing the launch, Wipro chairman Azim Premji said this business would offer solutions to hospitals and health insurance companies for efficient work flows, Bio- informatics solutions to Life Science to significantly reduce drug discovery cycle time and IT solutions to Medical and Analytical devices companies.

Premji also announced the appointment of D A Prasanna, as vice-chairman of Wipro Limited, who will lead the newly created business segment Wipro Healthcare and Life Science.

Prasanna will also be the chairman of Wipro Fluid Power Limited and oversee its operations. In addition, Prasanna will continue to be on the Board of Wipro GE Medical Systems Limited.

The estimated addressable market opportunity is around $ 25 billion, growing at over 20 per cent annually, Premji said.

The launch of Wipro Healthcare and Life Science is "in continuation of our strategy to identify growth opportunities that enhance shareholder value. Our domain expertise in Information Technology and customer relationships built in Healthcare business through Wipro GE Medical Systems and Wipro Biomed provides us with a distinct edge to address the requirements of the emerging segment," Premji said.

Wipro Technologies (Healthcare division) and Wipro Biomed together have already reached a target of $ 15 million on March 31, 2002. These divisions have an employee strength of 130 to 140, Prasanna said.

"Healthcare IT is a big market. Life Science market is again an emerging opportunity. Wipro has a network with global leaders like GE Medical Systems, Beckman Coulter, Fujinon and Cerner. India's intellectual leverage in Healthcare and Life Science combined with Wipro's track record and resources, gives Wipro Healthcare Life Science an opportunity to build global leadership in this decade," Prasanna said.

The new business will closely work with reputed educational institutions to introduce subjects like bio-informatics and healthcare in the curriculum, he said.

"With our experience in Healthcare and wide distribution network, we hope to make a success of this new initiative," Premji added.

The Wipro Biomed Business would be transferred into Wipro Healthcare and Life Science, to leverage the existing strong relationship with leading manufacturers of medical and Life Science Equipment, Prasanna said.

The new business will also leverage the customer relationship with the hospitals of Wipro GE Medical Systems Limited. In addition, the existing client base of Wipro Technologies in Healthcare will also be transferred to the new division, he added.

PTI