Information technology and business process services firm CGI Group, Inc. announced this week that it will now report a separate “health” global vertical segment.
According to a press release issued by the company, the new vertical is the result of "the company’s strong historical performance and the sector’s overall importance to CGI’s global growth strategy. Currently, this high-growth sector is embedded within both the government and financial services verticals."
“Health is an important market and represents a significant growth opportunity for CGI,” said Michael E. Roach, CGI president and CEO, in the press release. “By reporting health separately, our clients and investors will have greater visibility into our operations, including the depth and breadth of our capabilities.”
Over the past three years, the compounded annual growth rate of CGI’s health sector has been 28.1 percent and today generates approximately $350 million in annual revenue. In fiscal year 2011, this segment delivered a book-to-bill ratio of 120 percent of revenue and at Sept. 30, 2011 had an order backlog in excess of $1.2 billion.