April 14, 2016

Further M&A activity in health care tech industry

There have been many mergers in the health care technology industry in recently months.

In the last few months there has been significant merger and acquisition activity in the health tech industry. From the IBM-Truven Health Analytics merger to the GI Partners and Allscripts Healthcare Solutions-Netsmart Technologies acquisition, the M&A momentum among these health care software and technology providers is not expected to slow down any time soon, according to The Middle Market.

Recently, Midmark Corporation, a leader in health care workflow solutions in outpatient settings, announced its intention to acquire Versus Technology, a leading provider of real-time locating systems in the health care industry. Based in Michigan, Versus has almost 30 years of experience automating clinical workflows, which will provide Midmark with the resources and tools it needs to provide data-driven, improved health care systems.

John Baumann, the president and CEO of Midmark, remarked that he is excited about what the future will bring for the new partnership will allow Midmark to become the "foremost provider of clinical workflow solutions." The Versus Board of Directors had already unanimously approved the terms of the deal.

"We are very excited for the opportunity this collaboration will provide for our system integrators and end-user customers," HT Snowday, the president of Versus, said. "Healthcare providers face difficult decisions every day relating to equipment, room design, staffing and workflow. Together, Versus and Midmark will be able to provide more specialized, data-driven solutions to health systems, strengthening our businesses while enhancing healthcare for all involved."

Pending shareholder approval later this month, the deal will close at or before May 4, 2016. Versus' core operations are also expected to remain in Michigan.