Stanley Black & Decker, Inc. (NYSE:SWK) has announced that they are acquiring InfoLogix, the healthcare mobility solutions company, for $61.2 million. The transaction includes InfoLogix’s outstanding debt of $22.1 million. The deal is expected to be closed by Q1 of 2011 assuming that the SEC approves.
“We have the opportunity to be a part of a Fortune 500 multibillion-dollar company that will give us the capital to continue our vision to execute a total solution to the healthcare market around enterprise mobility,” stated InfoLogix CEO David Gulian in an interview with InformationWeek.
InfoLogix helps hospitals customize electronic health record systems when preparing for Medicare and Medicaid Electronic Health Records Incentive Programs.