IBM announced the closing of its acquisition of privately held software company Initiate Systems. The announcement ends a nearly month-long acquisition process. Initiate concentrates on the healthcare industry and improving access to clinical and patient data.
Initiate is the 14th strategic acquisition for IBM's business analytics program since 2005, totaling $10 billion in investments.
Along with the acquisition, IBM introduced Initiate Exchange, a new service that enables health systems to exchange patient data with physicians. CareSpark, an Initiate client serving Virginia and Tennessee, has also been awarded a Social Security Administration contract through the American Recovery and Reinvestment Act.
(www.ibm.com; www.initiate.com; www.carespark.com)