TOMCAT Purchased by Philips
TOMCAT Systems, Limited is going to be purchased by Royal Philips Electronics. The financial details of the acquisition were not publicized. The purchase is expected to be finalized by the end of the 2008 second quarter. A press release detailing completion of the definitive merger agreement was published by Philips.
TOMCAT is a healthcare information technology based in Northern Ireland. One of the existing products from TOMCAT is a software program that collects and aggregates data for cardiac care patients. This tool provides healthcare providers with a patient-centric presentation of ongoing information about individual patients under their care.
This software system provides support for both the operational and clinical elements of the cardiology service. It is easily integrated with other solutions used in the cardiology setting, such as tools to support workflow in the cardiac catheter lab or PACS.
One of Philips’s goals in completing this purchase is the opportunity to expand marketshare in the IT market for healthcare, particularly within the cardiology specialty. The IT tools available from TOMCAT to support CardioVascular Information will be easily integrated with tools available from Philips.
TOMCAT will be merged into the existing Healthcare Informatics business group at Philips within the company’s healthcare sector.
April 1, 2008 Related topics: Mergers & Acquisitions, Cardiology