Another acquisition in the electronic medical records (EMR) market, with the buy-out of document imaging and management services Bowman Enterprises by document life cycle solutions provider Diversified Information Technologies.
The financial details of the deal weren't released but last year Diversified's revenue was in the region of US$ 40 million, while Bowman's was close to US$ 6.5.The Bowman management team will be joining Diversified although how it will affect the rest of the company was not explained.
This is the second such acquisition by Diversified in the recent times. In October last year it acquired Active Data Services, a document imaging, print and electronic presentment provider headquartered in Raleigh, NC.
Diversified CEO Scott Byers said that the buy-out was part of the company’s plans to extend its footprint in the EMR market where he sees considerable potential for expansion. This indicates that we might be seeing similar moves from the Pennsylvania-based company.
Founded in 1982, Diversified provides document management software for complete document and information lifecycle, including records management solutions for physical and electronic records storage.
Currently targeting Fortune 1000 companies in the financial, insurance, health care and government sectors it has grown to 18 U.S. and three international locations.