Lexmark Buys Local Medical Software Co. for $45M
Lexmark International, Inc., said Wednesday that it has acquired Bloomington-based Acuo Technologies, LLC, for roughly $45 million in cash.
Acuo Technologies provides software and services for the medical industry, including clinical content management, and it currently employs 69, according to a company spokesman. Lexington, Kentucky-based Lexmark, which is primarily known as a printer and printing products company, said that national governments, university medical centers, and urban and regional acute care centers and companies use Acuo Technologies’ software and services, primarily in North America and Europe.
Acuo Technologies will now become a part of Lexmark’s Perceptive Software business unit, which is headquartered in Shawnee, Kansas.
Perceptive Software spokeswoman Sherlyn Manson said that Acuo will retain a Twin Cities office. She declined to specify whether all of Acuo Technologies’ workers will be retained but said, “Perceptive Software and Lexmark didn’t just acquire Acuo, they acquired a team of talented technology professionals.”
The Acuo Technologies name will be phased out and the business will eventually operate under the Perceptive Software brand, Manson added.
Acuo Technologies was founded in 2000, and its technology is used to manage digital medical images. CEO Jeff Timbrook said in a statement that combining Acuo Technologies’ products with Perceptive Software’s “allows us to offer health care customers more compelling end-to-end solutions that integrate and manage both medical image and document-centric patient information, all integrated with the EMR (electronic medical record system).”
“With the acquisition of Acuo Technologies, Lexmark is further strengthening and differentiating our industry-leading health care offerings as the health care IT market continues to expand at a rapid pace,” Lexmark Chairman and CEO Paul Rooke said in a statement.
Lexmark is known primarily as a printer and printing products company, but Rooke said that recent acquisitions like that of Acuo Technologies “showcase Lexmark’s transition to being a key solutions provider to enterprise-sized businesses and organizations across the globe.”
In 2011, the most recent year for which data is available, Lexmark reported $4.17 billion in revenue, and it currently operates a Bloomington office.