GE has closed its buy of API Healthcare, which is owned by Francisco Partners. No financial terms were disclosed. Headquartered in Hartford, Wisc., API Healthcare is a provider of healthcare workforce management solutions provider.
WAUKESHA, Wis. & HARTFORD, Wis.–(BUSINESS WIRE)–GE (NYSE: GE) announced today it has completed the acquisition of API Healthcare, a healthcare workforce management solutions provider, headquartered in Hartford, WI.
API Healthcare’s complementary offerings will expand GE Healthcare’s current Hospital Operations Management (HOM) portfolio, which gives hospitals real-time access to operational data. Comprehensively managing the scheduling, flow and availability of staff, patients and assets can help hospitals realize significant productivity gains.
“The GE and API Healthcare systems are such a good fit and perfectly align with GE’s Industrial Internet strategy,” said Mike Swinford, president and CEO of GE Healthcare Services. “With this acquisition, we are now able to address a significant portion of hospital operating costs – from assets to patient and labor – with a mix of software, real-time data, powerful analytics and professional services.”
Long-time customers of both organizations are already realizing operational value.
In 2007, Ellis Hospital in Schenectady, New York merged with two other area hospitals fighting to stay alive in the changing healthcare environment. Collectively, the hospitals faced millions of dollars in losses and the management needed strong new operational systems to turn around the new 438-bed entity with 3,400 employees, now called Ellis Medicine.
“Data at our fingertips was critical to our ultimate success in delivering efficiencies across the three hospitals – in patient care, in wait times and in patient and staff satisfaction,” said Paul Milton, chief operating officer of Ellis Medicine. “Bringing together the API Healthcare and GE solutions through this acquisition will continue to help Ellis and other hospitals across the industry to maintain complete transparency while creating accountability across the entire organization, at every level.”
Ellis Medicine deployed GE’s AgileTrac system in 2010 to track both assets and patient flow, which helped Ellis tag and track IV pumps and other clinical equipment, improve workflow, and save $1.1 million over three years. The hospital also rolled out a separate workforce management system developed by API Healthcare in 2011, which allowed management and employees to track everything from staffing data and real-time nurse to patient ratios to payroll and overtime. In just one six-month period, the hospital cut overtime costs by more than 25%, or $720,000, compared to the same period prior to deploying the new systems.
This acquisition furthers GE Healthcare commitment to offer customers integrated solutions to better deliver on their operational commitments.
For more information about GE Healthcare’s HOM offerings, please visit http://www3.gehealthcare.com/en/Services/Hospital_Operations_Management.
About GE Healthcare
GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter – great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.
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About API Healthcare
API Healthcare (www.apihealthcare.com) is a healthcare-specific vendor focused on workforce management solutions, and also the architect of the Healthcare Workforce Information Exchange (HwIE) — a revolutionary solution that facilitates the sharing of workforce data across the entire continuum of care. Founded in 1982, API Healthcare has been rated in the Top 20 Best in KLAS Awards Report (www.KLASresearch.com) as the top time and attendance provider system for the last 10 years (2003-2012) and the top staffing and scheduling solution in 2012. API Healthcare was acquired by private equity firm, Francisco Partners, in 2008. The Company was advised by Spurrier Capital Partners, a technology-focused M&A advisory firm in New York.