The companies have not formally announced the acquisition, but Luis Machuca, CEO of Beaverton, Ore.-based Kryptiq, has talked to Oregon newspapers about the deal.
The companies have been partners for some time. Surescripts previously held about 21 percent of Kryptiq after investing in the company in late 2010 and using Kryptiq’s technology to launch the exchange of clinical information over its e-prescribing network.
Now, selling out to Surescripts gives Kryptiq more resources and provides a solid return for investors, Machuca told The Oregonian. He expects to continue running Kryptiq and retain all 125 employees. The company anticipates 2012 revenue of about $25 million.
Be the first to comment on this post using the section below.