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Charlotte, NC; April 19, 2011 — DecisionPoint International, a leader in M&A advisory services for middle-market technology companies, announced today that its client Patient Care Technology Systems (“PCTS”), a leading provider of Intelligent Workflow software solutions for health care providers, has been acquired by Awarepoint Corporation (“Awarepoint”), a provider of real time location systems for hospitals to track personnel, patients and equipment. Terms of the transaction were not disclosed.
PCTS, headquartered in Charlotte, has built its success around its pioneering workflow solutions to track assets and patients for any department in hospitals. This acquisition enables Awarepoint to combine its unmatched ZigBee based technology platform with PCTS’s best-in-class software platform and clinical applications, to provide the industry’s leading all-inclusive enterprise-wide RTLS solution. PCTS currently serves 60 hospitals, while Awarepoint is installed at 93 hospitals and manages 150,627 assets, by far the most assets under management by a single company.
“This is a great combination of outstanding companies that will generate a lot of synergistic value. There was a lot of interest in PCTS and in the end, their investors felt that the combination with Awarepoint offered the most exciting potential for the company and its investors,” said Tom Wilson, Managing Director at DecisionPoint.
“In response to market demand and the well documented successes of our shared clients, this is the ideal time to unite both companies’ best-in-class offerings,” explained Jay Deady, CEO of Awarepoint. “Our combined solutions, proven track record, large installed base eager for enterprise-wide upgrades, and interoperable and configurable technology platform will allow Awarepoint to capitalize on an enormous untapped RTLS market. Industry analysts estimate RTLS market penetration in North America at only 10 to 12 percent and at just 5 percent internationally.”
Deady concludes, “I would like to thank all the people who stepped up and helped to make this merger possible in an extremely tight time frame. Special thanks to our investors Venrock, Cardinal Partners, and JAFCO Ventures, as well as banking partners, Silicon Valley Bank, and legal counsel, Cooley, and
PCTS advisor, DecisionPoint International.”
Corporate headquarters will remain in San Diego and PCTS will continue to operate its Charlotte, NC office. The PCTS executive team will remain intact and report to Jay Deady, Awarepoint’s CEO. The majority of PCTS’s staff will also be maintained and Awarepoint’s board of directors will remain unchanged.
About Patient Care Technology Systems
Patient Care Technology Systems helps health care providers to improve patient flow, increase capacity and improve patient and staff safety by visualizing the real time location and status of people and equipment throughout their facility. PCTS solutions have supported over 2 million patient visits annually and have shown a proven return on investment in high turnover, high-acuity units such as the emergency department and perioperative suites. The Amelior Enterprise Visibility and Workflow Automation Suite™ is interoperable with all leading locating technologies, including active-RFID, infrared, ultrasound, ultra-wideband, Wi-Fi and ZigBee. PCTS customers have been recognized nationally for improvements in efficiency and clinical excellence. For more information, visit www.pcts.com.
About Awarepoint
San Diego-based Awarepoint is the world’s leading supplier of real-time location systems (RTLS) that hospitals use to track, monitor, and optimize the utilization and workflow of personnel, patients, and equipment. These proven solutions with 93 hospital client sites, 150,627 asset tags under management and 47,015,515 square feet of RTLS network coverage in US hospitals, enable clinicians and administrators to improve quality of care, efficiency, productivity, and processes more easily and cost effectively. For more information, visit www.awarepoint.com.
About DecisionPoint
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Tom Wilson, Managing Partner; (704) 248-1124; twilson@decisionpointint.com.