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Metavante adds CapMed to healthcare information business

This article was originally published in Clinica

Executive Summary

Metavante Technologies has bolstered its medical information and payment processing operations with the acquisition of CapMed, a division of healthcare contract service firm Bio-Imaging Technologies. The sale of CapMed, which specialises in interactive personal health management solutions for the healthcare and pharma sectors, will allow Bio-Imaging to focus on its core business of providing clinical trial services, said the firm’s president and CEO Mark Weinstein. The transaction will see Metavante pay Bio-Imaging $500,000 in cash, with an undisclosed earn-out over a two-year period. Bio-Imaging (Milwaukee, Wisconsin) said that it expects the deal to result in a one-time charge of $2.5-2.7m. The Newtown, Pennsylvania-based company lowered its full-year 2008 earnings guidance from $0.23-0.25 per share to $0.11-0.15 as a result of this one-off charge.

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