Newswatch: February 2005

Mergers and Acquisitions

Hospital solution offerings expanded by way of acquisition

The topic of electronic health records (EHRs) has made quite a buzz during the past several months. (For more insight on the topic, see " Life Online: Exploring the Benefits of Electronic Health Records ") To adapt to this change in the industry, A4 Health Systems (Cary, NC) will purchase Canopy Systems Inc (Chapel Hill, NC), which provides Web-based solutions for care management. Structured as a cash- and stock-based transaction, the acquisition will broaden A4's software solutions tailored for the hospital market, allowing the company to play a more expansive role in hospital operations. "We have been following Canopy Systems for several years now and have been continually impressed by their growth and success," said John McConnell, chairman and CEO of A4. According to the agreement, Alan Winchester, Canopy Systems' current CEO, will be joining McConnell as executive VP of A4.

Sold! AuntMinnie.com

Eastman Kodak Co (Rochester, NY) has sold its informational Internet site, AuntMinnie.com , to IMV Ltd (Greenbelt, Md). The site, which is geared toward radiologists and related professionals in the medical imaging industry, became part of Kodak in 2000 through a broader acquisition that involved medical imaging products. Kodak claims its rationale for selling AuntMinnie is straightforward-that the company is a provider of medical imaging and information systems. "Owning a news and information Web site isn't part of our core strategy," said Dan Kerpelman, president of Kodak's Health Imaging Group. According to Kerpelman, AuntMinnie's business complements IMV as a firm that specializes in marketing research and consulting in medical and other advanced technology markets.

Day to night: Teleradiology firm is on the move

Demand for teleradiology services has soared as US radiology groups seek better ways to evaluate scans in the low-staffed nighttime hours. Recognizing that staffing challenges also exist on the weekends, off-hour radiology pioneer NightHawk Radiology Services (Coeur D'Alene, Idaho) announced that it has acquired DayHawk Radiology Services (Lafayette, La). The acquisition will allow NightHawk to provide 24-hour weekend coverage and expand its weeknight coverage by 6 hours to hospitals across the United States. "As radiology groups struggle to meet the rising demand with a limited number of staff members, the acquisition of DayHawk allows us to assist organizations that face similar staffing challenges on the weekends," said Jon Berger, VP of NightHawk Radiology Services. Previously, NightHawk offered coverage to US hospitals from 8 pm to 8 am EST from its reading centers in Sydney, Australia and Zurich, Switzerland. With the acquisition of DayHawk, NightHawk weekday coverage will now begin at 5 pm EST and extend to 8 am PST. (For more information on the use of nighthawking, see " Teleradiology Today ", which weighs the pros and cons of teleradiology.)

Fluke Biomedical acquires Cardinal Health business

Fluke Biomedical (Carson City, Nev) has acquired the Radiation Management Services business of Cardinal Health (Cleveland). According to Fluke, the acquisition provides the company with a greater presence in the medical quality and safety market. "Fluke's expertise in test and measurement equipment has long been admired in this industry," said Susan Janney, director of marketing and product development for the Radiation Management Services business. "We are excited about the prospect of combining our radiation measurement capability with Fluke to offer our customers superior instrumentation for the future."