Canadian healthcare information technology firm MediSolution of Montreal is planning to enter the PACS market by acquiring PACS software developer MarkCare Medical Systems of Bloomfield, NJ, from MarkCare's parent, Mark Solutions.
The proposed $1.7 million cash acquisition would include MarkCare's IntraScan II PACS technology and all of the shares of MarkCare’s wholly owned U.K. subsidiary, MarkCare Medical Systems Ltd.
For MediSolution, an entry into the PACS market would support its position in the Canadian marketplace, and would also help the company expand into the U.S. and Europe, according to MediSolution president and CEO Remi St-Hilaire. IntraScan II would join MediSolution’s MediPatient+ electronic patient record software and MediRad radiology information system, allowing the company to provide a complete technology suite for the healthcare imaging market, St-Hilaire said.
The two firms are already familiar with one another, having formed a partnership recently. MarkCare sold its first system in Canada through a partnership with MediSolution. In the past, MarkCare has also partnered with Data General.
The MediSolution acquisition has been structured to include an interim management services agreement under which MediSolution has assumed the day-to-day management of MarkCare.
The transaction is expected to close by March 15, and is subject to MediSolution’s completion of satisfactory due diligence, Mark Solutions' fulfillment of certain conditions, and customary approvals by regulatory authorities in the U.S., Canada, the U.K. and the EEC.
By AuntMinnie.com staff writers
February 21, 2001
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