Healthcare information systems firm IDX Systems and medical transcription company Total eMed of Franklin, TN, have entered into an agreement for Total eMed to acquire EDiX, a wholly owned subsidiary of IDX, for $64 million in cash. The transaction is expected to close in the second quarter and is subject to customary closing conditions, IDX said.
In related news, Burlington, VT-based IDX also provided revenue and earnings guidance resulting from the planned divestiture of the subsidiary. IDX had previously given a 2003 revenue guidance of $530 million, based on an assumed EDiX revenue contribution of $124 million-$130 million. According to the company, with the EDiX divestiture and unchanged guidance in its core business, IDX expects 2003 revenues of $400 million-$406 million -- assuming no special items for the fiscal year.
By AuntMinnie.com staff writersApril 11, 2003
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