Harris to Buy Carefx for $155 Million, Growing Health Business
Harris Corp., maker of military radios and information-technology solutions, is making a bigger push into the health-care market, purchasing Carefx Corp. for $155 million.
Carefx, based in Scottsdale, Arizona, provides products to manage and view patient information, including X-rays and electronic health records. The closely held company’s software is used in more than 800 hospitals, health-care systems and health information exchanges in North America, Europe and Asia, the two companies said in a statement released today.
“It’s a key growth area for Harris,” Jim Traficant, vice president and general manager of Harris Healthcare Solutions, said in an interview. “Health care is a very large, high-growth market undergoing a digital transformation.”
Melbourne, Florida-based Harris, which provides health information exchange services to the Defense and Veterans Affairs departments, will offer Carefx software to government customers, Traficant said.
Harris said it also will gain a foothold in the commercial health-care market with the Carefx acquisition. Current Carefx customers include Boston Medical Center, Emory University Hospital and Northwestern Medical Hospital.
Harris is acquiring Carefx in an all-cash deal, which is expected to close in the fourth quarter of fiscal 2011. Harris said it will finance the acquisition with a combination of cash and commercial paper.
To contact the reporter on this story: Eric Engleman in Washington at eengleman1@bloomberg.net
To contact the editor responsible for this story: Allan Holmes at aholmes25@bloomberg.net
Rate this Page