Healthcare information technology vendor Impac Medical Systems, Mountain View, Calif., on Tuesday said it completed its acquisition of the pathology information management and cancer registry businesses of bankrupt care management firm Impath.
The $22 million deal includes cash and assumption of debt, according to Impac. The company completed the purchase without having to raise its initial bid in U.S. Bankruptcy Court in New York.
Impac, which specializes in IT for oncology, takes over Impath subsidiaries Tamtron, the maker of pathology information management system PowerPath, and Medical Registry Services. The latter business has amassed a database of 1 million profiles of cancer patients and outcomes data on 2.3 million individuals, Impac says.
Impac will add the records to its existing National Oncology Database, which contains information on about 1.9 million cases.
Impath sold its assets to raise capital for its creditors. The New York City-based firm entered Chapter 11 bankruptcy in September after announcing that the Securities and Exchange Commission was probing possible accounting "irregularities."