Everest Group Names HCL A ‘LEADER’ In Medical Device Engineering Services Peak Matrix ™ Assessment 2019 | HCLTech
Press Release

Everest Group Names HCL A ‘LEADER’ In Medical Device Engineering Services Peak Matrix ™ Assessment 2019

Published Date
5 min. read
Published Date
5 min. read

Noida, India – 14th March 2019: HCL Technologies (HCL), a leading global technology company has been recognized as a Leader in Everest Group’s report, Medical Device Engineering Services PEAK Matrix™ Assessment 2019: Navigating the Innovation and Compliance Conundrum. The report highlights HCL’s ability to deliver end-to-end engagements and while reinforcing HCL’s unique partnership-approach with customers and its high levels of involvement in product ideation and design.

“New age technologies, especially Digital, Cloud, and IoT are transforming the global medical devices industry. Partnering with these organizations in enabling their transformation by leveraging HCL’s expertise in Digital, Cloud, Analytics and IoT is an important aspect of HCL’s growth in Medical Devices engineering. Combined with capabilities in AI, AR/VR, our experience in product development and platform engineering, and our deep understanding of the medical devices space, HCL delivers tangible business value to customers. This reflects in our Leader status in Everest Group’s Medical Device Engineering Services PEAK Matrix™ Assessment 2019,” said GH Rao, President, Engineering and R&D Services, HCL Technologies Ltd.

HCL’s product development and platform engineering services enable Medical Device companies to transform their business by driving innovation and product modernization. As a business partner, HCL helps these companies enjoy quicker time-to-market while creating new revenue streams and meeting regulatory demands. According to Everest Group, HCL provides Medical Device companies a strong combination of technical expertise and deep understanding of the domain. Everest Group recognises HCL’s success in expanding the scope of its client partnerships by proactively adopting new age digital technologies such as IoT, AI and AR/VR into its client engagements to improve patient care and reduce the cost of care. The report highlights HCL’s focused infrastructure investments in labs and innovation centres, which according to Everest Group makes HCL the “Partner of Choice” for its customers.

“Service providers have a crucial role to play in helping medical device companies navigate through the challenges of complying with evolving regulations, optimizing product development costs, and embracing digital technologies. Enterprises expect them to not only provide the engineering headcounts, but to also offer domain expertise, best practices from other industries, and reusable frameworks/accelerators. A balanced combination of technical capability and domain know-how, proactiveness in showcasing its internally-developed accelerators and PoCs, and willingness to engage via emerging business models have helped HCL Technologies emerge as a Leader in Everest Group’s recently concluded PEAK Matrix™ assessment for Medical Device Engineering Services,” said Akshat Vaid, Vice President, Everest Group.

For this study, Everest Group evaluated 12 leading service providers on two broad parameters – Vision & Capability which measures ability to deliver services successfully, and Market Impact which measures impact created in the market.

About HCL Technologies

HCL Technologies (HCL) is a leading global technology company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 44 countries and has consolidated revenues of US$ 8.4 billion, for 12 Months ended 31st December, 2018. HCL focuses on providing an integrated portfolio of services underlined by its Mode 1–2–3 growth strategy. Mode 1 encompasses the core services in the areas of Applications, Infrastructure, BPO and Engineering & R&D services, leveraging DRYiCE Autonomics to transform clients' business and IT landscape, making them 'lean' and 'agile'. Mode 2 focuses on experience–centric and outcome–oriented integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cybersecurity & GRC services to drive business outcomes and enable enterprise digitalization. Mode 3 strategy is ecosystem–driven, creating innovative IP–partnerships to build products and platforms business. HCL leverages its global network of integrated co-innovation labs and global delivery capabilities to provide holistic multi–service delivery in key industry verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing, Entertainment, Retail & CPG, Life Sciences & Healthcare, Oil & Gas, Energy & Utilities, Travel, Transportation & Logistics and Government. With 132,328 professionals from diverse nationalities, HCL focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com

Forward–looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

Media Contacts:

HCL Technologies

Anne Coyle, US


Elka Ghudial, Europe


Devneeta Pahuja, India and APAC


Contact Us


Ashutosh Sharma


Meenakshi Benjwal


Elka Ghudial


James Galvin


Siddhartha Bhatnagar

Other Press Releases

HCLTech unveils new report: ‘The Blueprint to Total Experience’
Explores the competitive advantage in delivering integrated experiences for customers, employees and users across multiple channels

HCLTech expands US footprint with new offices in New Jersey and California
New facilities outfitted with modern workspaces to foster collaboration for its employees and bring innovation closer to clients and partners.
HCLTech and Tecnotree collaborate on 5G-led GenAI solutions for telcos
Strategic partnership to accelerate innovative next-generation solutions that enhance customer delight though hyper-personalization
Olympus and HCLTech expand engineering and R&D partnership
Announce dedicated center in Hyderabad, India to advance Olympus’ global product innovation journey
HCLTech and apoBank deepen partnership
Partnership will enable apoBank to deliver fast and secured banking services to its customers leveraging HCLTech’s Digital Foundation services