Idx Systems (NASDAQ:IDXC)
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GE Healthcare, a unit of General Electric Company
(NYSE:GE), announced today the completion of the acquisition of IDX
Systems Corporation (NASDAQ:IDXC), a leading healthcare information
technology (IT) provider. Together, GE Healthcare, a global leader in
medical imaging, healthcare services, life sciences and information
technology, and IDX will create a leading healthcare IT vendor with
one of the most comprehensive suites of clinical, imaging and business
information systems available.
GE expects the acquisition to accelerate efforts to seamlessly
connect clinicians from physicians' offices to hospitals with
comprehensive, enterprise-wide electronic health record (EHR)
solutions, creating a digital community that supports safe, efficient
and cost-effective patient care.
In 2005, the RAND Corporation, a non-profit research organization,
released information indicating that America's healthcare system could
save more than $81 billion annually and improve the quality of care if
it were to broadly adopt computerized medical records.
"The combination of these two companies positions GE as a leading
provider of global healthcare information solutions and, by further
enabling the integration of our customers' IT systems, enhances our
ability to help them streamline healthcare costs, reduce medical
errors and enhance and improve the quality of patient care," said Joe
Hogan, president and CEO of GE Healthcare. "In addition, our expanded
IT product offerings will provide healthcare practitioners with
powerful new capabilities and tools, like comprehensive EHRs, to help
physicians diagnose and treat disease earlier than ever before."
With the completion of the transaction, Vishal Wanchoo, president
and CEO of GE Healthcare's Information Technologies business, will
lead the combined business. GE Healthcare's IT business will have its
global headquarters in Barrington, Illinois, with major offices in
Burlington, Vermont; Boston; Seattle; and London, along with satellite
offices both within and outside the United States.
According to Wanchoo, the acquisition enables GE to offer a
comprehensive suite of financial and business management solutions for
group practices, hospitals and integrated delivery networks (IDNs), as
well as a combined industry-leading radiology information system (RIS)
and picture archiving communications system (PACS) solution. GE's
broad product offerings will help healthcare providers deliver the
best quality of care while optimizing business performance.
"GE's acquisition of IDX allows us to provide new and more
comprehensive ways for healthcare practitioners to manage the
explosion of data that has emerged from the healthcare industry," said
Wanchoo. "GE's IT tools, capabilities and global scope have the
potential to transform the way healthcare is delivered."
About GE Healthcare
GE Healthcare provides transformational medical technologies that
are shaping a new age of patient care. Our expertise in medical
imaging and information technologies, medical diagnostics, patient
monitoring systems, drug discovery, and biopharmaceutical
manufacturing technologies is helping clinicians around the world
re-imagine new ways to predict, diagnose, inform and treat disease, so
their patients can live their lives to the fullest.
GE Healthcare's broad range of products and services enable
healthcare providers to better diagnose and treat cancer, heart
disease, neurological diseases, and other conditions earlier. Our
vision for the future is to enable a new "early health" model of care
focused on earlier diagnosis, pre-symptomatic disease detection and
disease prevention.
Headquartered in the United Kingdom, GE Healthcare is a $15
billion unit of General Electric Company (NYSE:GE). Worldwide, GE
Healthcare employs more than 43,000 people committed to serving
healthcare professionals and their patients in more than 100
countries. For more information about GE Healthcare, visit our website
at www.gehealthcare.com.