The $61.2 million deal adds InfoLogix's mobility solutions expertise and 1,400 hospital customers to Stanley Black & Decker's healthcare solutions business unit.
Slideshow: Healthcare Innovators
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Mark Bowker, senior analyst with Enterprise Strategy Group (ESG), said the deal supports recent trends that show an increase in spending in the mobile health market.
"In a recent ESG 2011 IT Spending Intentions Survey, more than half (52%) of healthcare organizations indicated that they would increase IT spending in 2011. ESG additionally sees that increased usage of mobile solutions coupled with adherence to industry compliance regulations and electronic healthcare records as a top focus of the healthcare industry," Bowker said. "Strengthening its solutions in the healthcare market is a wise investment for Stanley Black & Decker's strategy and this acquisition has the potential to help innovate new solutions and accelerate product adoption into the market."
According to executives at Stanley, InfoLogix will add an established provider of mobile workstations and asset tracking solutions to Stanley's existing Healthcare Solutions growth platform. As part of Stanley Healthcare Solutions, InfoLogix's business will be well-positioned to extend its reach in healthcare and commercial markets by having access to the resources, brand equity and global supply chain of a S&P 500 company.
"The acquisition of InfoLogix is consistent with Stanley Black & Decker's portfolio diversification strategy and continues the expansion of one of our growth platforms, Stanley Healthcare Solutions," Brian Kaner, CFO and COO of Stanley Convergent Security/Healthcare Solutions, said in a statement.
Kaner also said the acquisition will help Stanley Healthcare Solutions provide health IT consulting services that will enable his division to assist clients in improving workflow, productivity and profitability through complete enterprise mobility solutions.
"With a strong leadership team and talented employee base, we plan to leverage InfoLogix's expertise in mobility solutions, clinical integration services, and mobile managed services in expanding our growing security and healthcare businesses," Kaner said.
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