TransTech, a special purpose acquisition corporation, was
formed with the objective of acquiring an operating business, and intends to
focus on leveraging cross-border opportunities in the business services sector.
The company has recently announced that it has raised $36 mn in a public
offering in the US. In an exclusive interaction Suresh Rajpal, chairman and CEO,
TransTech Partners, shared the companys plans to leverage Indias talent
pool to create a healthcare delivery center for companies abroad. Excerpts

What is the focus of the TransTech Service Partners?
We have found that with the globalization of services, the small and medium
companies in the US and European countries are facing challenges in aligning
businesses. We will be focusing on realigning the business models of these
companies to meet challenges. We will offer the services delivery expertise of
similar Indian companies to those small and medium companies abroad. This will
reduce the cost of companies and would bring outsourcing work to India.

After you raise $36 mn from the public offering in the US, what
would you be focusing on? Have you already started offering business services to
companies abroad?
Our focus is clear. We would look at acquiring companies in Europe and the
US, and service delivery in India. This would provide opportunities for
investors to provide capital along with cross-border operational expertise.
TransTechs strategy is to acquire companies and to implement productivity
improvement initiatives so that the realigned company emerges as a stronger
player in the business service market.

We have not yet started offering the services, but have already
set the operation for acquisitions. Once we acquire a company in the US or
Europe, we would be looking for companies in the similar vertical in India,
which can offer the business services delivery.

Which business sectors will you be targeting?
We would be targeting the financial, insurance, and healthcare services. We
want India to be a delivery center for the companies in the US and Europe.
According to our market study, we have noticed that the healthcare sector holds
the highest potential for growth. As healthcare services are highly expensive
for companies abroad, we can leverage cost-effective services from India. Each
company would focus on their core strength and competency and outsource the
rest.

According to analysis, companies in the US bear the direct cost
of 70% of their revenue in delivery of services, which is 35-50% in India. This
would encourage in aligning the companies, together improving their revenues.

How do you see the growth of the healthcare delivery sector in
India?
Currently, most of the Indian companies offer service delivery centers for
the financial sector and insurance, but there is not a single company that
offers exclusive healthcare services. We are optimistic that once the service
delivery for healthcare sector emerges in India, this will invite foreign
companies to align with them.

Would you be also exploring opportunities in other countries?
Yes, we would. Our goal is to offer operational expertise at lesser cost and
better quality. If we find better quality at less expensive price, we would
definitely be going ahead with it. Well, currently, we would be focusing on
India.

Bhaskar Hazarika, Cybermedia
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