|
News
Issue #2001 - 31
(August 2001)
(Updated
August 1, 2001)
ACQUISITIONS,
MERGERS & AGREEMENTS
GE Medical Systems Acquires Data Critical
In pursuit of its mission
to help hospitals better manage their clinical workflow, especially
during these times of economic cutbacks, GE Medical Systems, part of
the General Electric Company, has announced plans to acquire Data
Critical Corp., a provider of wireless communication technologies
for healthcare
sector.
Under the terms of the agreement, Data Critical Corp.
shareholders will receive $3.75 per share payable in cash for each
Data Critical Corp. share they own. The transaction, which is
subject to Data Critical shareholder and regulatory approvals and
other customary conditions, is expected to be completed by the end of
the third quarter, 2001.
With healthcare facilities facing financial pressures and acute
labor shortages, they are turning to wireless technologies to
enhance productivity and performance, said Greg Lucier, president
and CEO of GE Medical Systems Information Technologies.
According to Lucier, the union of GE' s advanced patent
monitoring networks, clinical information systems, and IT
implementation experience, with Data Critical 's wireless
technologies, will present healthcare providers with the first
end-to-end clinical information system.
Last month, Data Critical acquired VitalCom, a provider of
wireless systems that provide patient information to caregivers. In
addition, the company's product offerings, including StatView™,
AlarmView™ and FlexView™, a line of wireless alarm notification
products for hospitals, as well as a range of wireless products for
physicians, are installed in 400 hospitals across the U.S.,
providing over 15,000 doctors with real-time information.
For more information: http://www.gemedicalsystems.com
Mobileinfo Comments and Advisory: This
is a good acquisition because Data Critical would have found it
difficult to get funds from the open market to move forward. GE does
have the cash and desire to exploit this technology.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
|
