InfoLogix, Inc. Acquires Healthcare Mobility Services and RFID
Business from AMTSystems, Inc.
Thursday May 10
With Second
Acquisition in Past 30 Days, Company Furthers Position as Leading Mobile
Intelligence Solutions Provider for the Digital Hospital of Tomorrow
HATBORO, PA – May
10, 2007 – InfoLogix, Inc. (OTCBB: IFLG), a leading provider of mobile
intelligence solutions to over 1,100 hospitals in North America,
announced today it has acquired the healthcare mobility services and
RFID business of AMTSystems, Inc., including the technology solutions
that are currently used in over 400 hospitals internationally.
The business acquired includes existing relationships with customers,
vendors and partners, and the intellectual property rights behind AMT’s
clinical and financial mobility solutions for healthcare. The
acquisition strengthens InfoLogix’s position in the hospital RFID
marketplace, which is predicted to reach $8.8 billion by 2010 according
to industry analysts. AMTSystems is based in Cheshire, Connecticut.
Terms of the deal were not disclosed.
“InfoLogix is committed to providing mobile applications that improve
patient safety while enabling the Digital Hospital of tomorrow for
healthcare providers,” says David Gulian, president and CEO of InfoLogix,
Inc. “This acquisition continues to advance our position as the ‘single
source’ provider for mobile intelligence solutions in both the
healthcare and enterprise markets, and we expect it to be accretive to
our 2007 earnings.”
Last week the World Health Organization identified nine key areas in
which healthcare errors that harm millions of people worldwide can be
prevented. With this acquisition, InfoLogix now has solutions that
directly address the top four areas, including medication errors and
“wrong site / wrong procedure” surgeries.
“With 15 years of continued research and development, we’ve grown our
healthcare mobility and RFID solutions into a multi-million dollar
business,” says Todd Stewart, Vice President of Business Development at
AMTSystems. “InfoLogix’s market penetration and breadth of services will
enable these cutting-edge solutions to reach a wider market, starting
with their existing base of 1,100 healthcare customers.” Stewart will be
joining InfoLogix as Director of Healthcare Technology Sales.
The acquisition also includes an FDA approved technology which uses RFID
to prevent “wrong site / wrong procedure” surgeries; a patent-pending,
paperless RFID-based chain of custody drug testing system; and a
medication management solution for long term care and assisted living
facilities.
InfoLogix, Inc. was advised by Fairmount
Partners of West Conshohocken, PA in this transaction.
About InfoLogix, Inc.
As the leading
provider of mobile intelligence solutions, InfoLogix uses the industry’s
most advanced wireless information technology to increase the
efficiency, accuracy, and transparency of complex business and clinical
processes. With 19 issued patents, InfoLogix provides strategic
consulting, business applications, wireless device and infrastructure,
connectivity, and mobile managed services solutions to Fortune 1000 and
healthcare clients including Kraft Foods, Merck and Company, General
Electric, News America Corporation, Mercedes Benz, Kaiser Permanente,
Adventist Health, Universal Health Services, and Stanford School of
Medicine. Founded in 2001, and headquartered in suburban Philadelphia,
PA, InfoLogix has been named the sixth fastest growing new business in
the United States for the last three years by Entrepreneur Magazine.
InfoLogix is a publicly-traded company (OTCBB: IFLG).
Principals of Fairmount Partners acted
as advisors to InfoLogix in this transaction.