Metavante adds CapMed to healthcare information business
This article was originally published in Clinica
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.