Genzeon, a healthcare solutions company headquartered in Exton, Pa., is expanding its artificial intelligence capabilities while keeping an eye toward M&A.

Founded in 2012, Genzeon develops technology products for payers, providers, healthcare product companies and life sciences organizations, including clinical research services companies.

The company has developed around 30 products, including a physician co-pilot platform that aids in diagnosis and a product focused on neonatal treatment for hospitals.

Despite significant interest from private equity firms, Genzeon remains privately held and is committed to organic growth.

“As of today, we are heads down, focused on building our company and reinvesting in building the company,” said CEO Ilanko Kumaresan, who joined 18 months ago. “We are not ready.”

But Kumaresan didn’t rule out the possibility of future investment.

“I mean, never say never … maybe in the future, a couple of years down the line, maybe we’ll be ready to have a conversation,” he said.

Business at a Glance:

• Workforce: about 600 people in the U.S., India and Philippines
• Sentiment toward investment: not interested at this time
• Attitude toward M&A: passively interested
• Client base: payers, providers, healthcare product companies and life sciences organizations

Kumaresan aims to keep up the company’s double-digit annual growth rate in the coming years.

In November 2021, Genzeon acquired CompliancePro Solutions, privacy and security compliance software company, since doubling the customer base.

Genzeon is also open to future acquisitions, specifically seeking companies that offer either new or existing service capabilities that differentiate it in the market.

Some of Genzeon’s key clients include UiPath Inc., Databricks Inc. and Microsoft Corp.

The company is also heavily investing in its artificial intelligence capabilities. Over the past 18 months, it’s built up 10% of the company to work in the sector, and Kumaresan expects that trajectory to continue, he said.

Elsewhere in the broader healthcare technology field, Summit Partners earlier this month invested in Newport Beach, Calif.-based RIS Rx LLC, which develops software for pharmaceutical manufacturers.

Also, Healthcare technology companies Forcura LLC and Medalogix LLC in March, merged to create a post-acute care technology platform. Berkshire Partners LLC is the platform’s majority owner, while Vistria Group LP is the largest minority shareholder.

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