United HealthGroup‘s (NYSE: UNH) health information technology subsidiary Ingenix has acquired a Massachusetts-based hospital software provider for an undisclosed amount.
Wakefield, Massachusetts-based Picis provides enterprise software to hospitals’ emergency departments, surgical suites and intensive care units, according to a statement from Ingenix.
Ingenix, which provides consulting, technology and outsourcing services to nearly 6,000 hospitals in the U.S., said the acquisition helps it extend its reach into the “high acuity” hospital market.
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Picis’ systems are in use in more than 1,800 hospitals and medical centers throughout North America, Europe and Africa. Picis’ software combines clinical, financial and administrative data for hospital administrators and clinicians, according to the statement.
The high-acuity segment of the health information technology market has been growing at nearly twice the rate of the overall HIT market over the past several years, according to the statement.
Growth in the market is expected to be further spurred by the injection of $46 billion in federal subsidies to support the purchase of electronic health records systems by doctors and hospitals. The funding was included as part of the federal stimulus bill passed early last year, called the American Reinvestment and Recovery Act.
Earlier this week, UnitedHealth boosted its annual profit forecast, thanks to a strong revenue growth across all of its businesses in the second quarter.
