API Healthcare, a Hartford, Wisc.-based provider of workforce management and business analytics software for healthcare providers, has been acquired by GE Healthcare this week.
The move, GE says, is part of a larger initiative to invest in data analytics products. API's products aim to improve operational efficiencies for healthcare providers in terms of patient flow, staff, and asset optimization, and the company has approximately 1,600 customers (either hospitals or staffing agencies). The acquisition, which was made for an undisclosed amount, will be slated for regulatory approval and is anticipated to close in the first quarter of 2014.
“Healthcare productivity is more important than ever for hospitals as more patients enter the system and operational costs continue to climb,” John Dineen, President & CEO, GE Healthcare, said in a statement. “In addition to clinical systems, hospitals need operational management systems to drive enterprise-wide efficiencies, reduce unnecessary costs and enable improved patient care. Over the next 5-7 years, we believe sales of these systems will accelerate towards double-digit growth and GE Healthcare will lead the way.”
Get the latest information on Finance and Revenues and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.