Healthcare Triangle, Inc. (NASDAQ: HCTI) announced today the launch of its wholly-owned subsidiary, Purpose Health, and appointed veteran healthcare technology and AI services leader Sumit Ganguli as Chairman and Chief Executive Officer. This move aims to capitalize on the multi-billion dollar healthcare AI market opportunity, accelerating the monetization of AI demand and enhancing shareholder returns.
Purpose Health will focus on the U.S. and international healthcare markets, building AI infrastructure, agentic AI, and healthcare solutions for medical institutions, insurance companies, life sciences, and medical technology firms. Its services will span advanced data management, cloud platforms, and security offerings.
The new subsidiary will drive a transformation of Healthcare Triangle's business model toward a customer-centric, high-productivity AI-led IT managed services and strategic joint venture approach. By securing multi-year recurring revenue streams, the company aims to optimize asset value and capital efficiency.
Newly appointed CEO Ganguli brings over three decades of international experience. From 2009 to 2024, he served as President and CEO of a healthcare technology company, transforming it from a small IT services firm into a global AI and healthcare business with approximately $175 million in revenue—an 18-fold increase. He also led major healthcare client collaborations valued between $25 million and $300 million.
Healthcare Triangle's Chief Financial Officer stated that Ganguli's track record in building and scaling businesses within the healthcare technology services sector makes him the ideal leader for Purpose Health. His deep domain expertise and extensive healthcare ecosystem relationships will accelerate the company's delivery of reusable AI solutions to clients.
Currently, Purpose Health is actively forming capability partnerships with leading electronic health record vendors, global hyperscale cloud providers, and AI market leaders. The initiative is dedicated to delivering measurable, AI-driven value to healthcare industry clients.