CGI (NYSE: GIB) announced today it will begin reporting health sector growth in a separate “Health” vertical segment. That growth is currently included in its government and financial services verticals.
The company said the sector’s strong performance and its importance to CGI’s global growth strategy resulted in the separation.
The sector has grown 28.1 percent over the past three years on a compounded annual growth rate basis and it now generates approximately $350 million in annual revenue, according to company figures.
The company also reported that the sector had a fiscal 2011 book-to-bill ratio of 120 percent of revenue and had a backlog in excess of $1.2 billion as of Sept. 30.
“Health is an important market and represents a significant growth opportunity for CGI, ” said Michael E. Roach, CGI’s president and CEO. “By reporting health separately, our clients and investors will have greater visibility into our operations, including the depth and breadth of our capabilities.”