Technest Holdings, Bethesda, Md., has acquired telemedicine company AccelPath, based in Westwood, Mass., for roughly 86 million shares of newly issued common stock, according to a Technest news release. Technest designs and sells imaging, surveillance and facial-recognition devices and services and counts among its clients the National Institutes of Health, according to the release.
Shekhar Wadekar, CEO of AccelPath, was named president and CEO of Technest. He succeeds Gino Pereira, according to SEC filings. Under the deal, AccelPath, a digital-telepathology provider, becomes a wholly owned subsidiary of Technest.