LTIMindtree Wins $100 Million MedTech Deal Amid Push for Large Contracts
The seven-year mandate strengthens the firm’s foothold in regulated healthcare technology and adds revenue visibility in a cautious spending climate.
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[Image source: Chetan Jha/MITSMR India]
LTIMindtree Ltd said it has secured a $100 million, seven-year contract with a European medical-technology firm to develop and support hearing solutions products, extending a run of large deals as clients prioritize digital upgrades despite a muted macro backdrop.
Under the agreement announced on Monday, 23 February, LTIMindtree will use its iNXT platform to support the client’s primary hearing aid brands and private labels, including wearable devices, professional fitting software and a consumer mobile app, according to a company filing.
The agreement expands the Bengaluru-based firm’s presence in the regulated MedTech space and adds to a string of large-ticket contracts that the management said provide multi-year revenue visibility amid subdued macro conditions.
Earlier this month, LTIMindtree’s board approved a plan to rename the company LTM Ltd, subject to shareholder and regulatory clearances. Recent earnings showed record total order bookings for the quarter ended December.
This seven-year engagement follows earlier wins in healthcare and industrial segments, reflecting the industry’s shift toward deeper digital and software integration in specialized hardware businesses.
