GE Medical Systems Information Technologies is continuing its strategy of building enterprisewide healthcare information systems through acquisition, announcing Thursday that it has agreed to buy Triple G Systems Group, a Canadian vendor of laboratory information systems.
The deal is worth about $54.6 million, based on current exchange rates. The Milwaukee-based healthcare IT division of General Electric Corp., says it will pay $3.30 Canadian for each of the approximately 22.4 million shares of Triple G, of Markham, Ontario.
The offer represents a 15% premium above the Wednesday closing price of $2.88 Canadian.
"Laboratory information systems are critical to delivering quality patient care in today's healthcare environment," GE Medical Systems IT President and CEO Dow Wilson says in a company statement. "Because most clinical treatment decisions are based on laboratory test results, the potential for improving patient safety by enhancing workflow in this area is significant."
Triple G, founded in 1991, has its systems installed in about 450 labs in North America, the United Kingdom and Asia, according to GE.
This acquisition is the latest in a string of purchases GE Medical has made to build its healthcare IT portfolio. In 2002, GE took over physician practice management software developer Millbrook Corp. and purchased the Logician ambulatory electronic medical records system from bankrupt MedicaLogic.