Stanley to Acquire InfoLogix
Stanley Black & Decker will expand its reach into the health care market with a definitive agreement to acquire InfoLogix Inc. for $61.2 million.
Stanley Black & Decker will expand its reach into the health care market with a definitive agreement to acquire InfoLogix Inc. for $61.2 million.
Best know for its Stanley line of tools--augmented by the recent acquisition of Black & Decker--New Britain, Conn.-based Stanley also sells mechanical doors, security solutions, fastening systems and other industrial products. The company has diversified into health care in recent years and sells portable emergency call buttons, carts and cabinets, abduction prevention applications, and patient wander, fall and bed turn management software.
Now, Stanley will acquire more health care technology via Hatboro, Pa.-based InfoLogix, which sells RFID-enabled asset tracking systems, bar-coded medication management systems and mobile nurse carts. The company also sells wireless supply side management and mobile computing devices in a variety of other industries.
In recent years, InfoLogix also has become an implementer of hospital information systems from Epic, Eclipsys, GE Healthcare, Meditech and Siemens. That business now counts for half of revenue. InfoLogix got into the implementation business "because that's what drives mobility," says CEO David Gulian.
Stanley's $61.2 million offer, at $4.75 per share for stock that closed Dec. 15 at $1.80, includes the assumption of $22.1 million in debt. InfoLogix expects 2010 revenue of about $80 million and is not net-profitable.
As part of Stanley, InfoLogix will not have the day-to-day pressures and expenses of being a public company, although it will be part of a publicly owned firm. InfoLogix will market Stanley's products to 1,500 existing hospital clients and will have global marketing opportunities for both business lines, Gulian says. The company also will have access to additional resources such as capital and new technologies.
More information is available at infologix.com and stanleyhealthcare.com.
--Joseph Goedert
Best know for its Stanley line of tools--augmented by the recent acquisition of Black & Decker--New Britain, Conn.-based Stanley also sells mechanical doors, security solutions, fastening systems and other industrial products. The company has diversified into health care in recent years and sells portable emergency call buttons, carts and cabinets, abduction prevention applications, and patient wander, fall and bed turn management software.
Now, Stanley will acquire more health care technology via Hatboro, Pa.-based InfoLogix, which sells RFID-enabled asset tracking systems, bar-coded medication management systems and mobile nurse carts. The company also sells wireless supply side management and mobile computing devices in a variety of other industries.
In recent years, InfoLogix also has become an implementer of hospital information systems from Epic, Eclipsys, GE Healthcare, Meditech and Siemens. That business now counts for half of revenue. InfoLogix got into the implementation business "because that's what drives mobility," says CEO David Gulian.
Stanley's $61.2 million offer, at $4.75 per share for stock that closed Dec. 15 at $1.80, includes the assumption of $22.1 million in debt. InfoLogix expects 2010 revenue of about $80 million and is not net-profitable.
As part of Stanley, InfoLogix will not have the day-to-day pressures and expenses of being a public company, although it will be part of a publicly owned firm. InfoLogix will market Stanley's products to 1,500 existing hospital clients and will have global marketing opportunities for both business lines, Gulian says. The company also will have access to additional resources such as capital and new technologies.
More information is available at infologix.com and stanleyhealthcare.com.
--Joseph Goedert
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