Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, February 22, 2011

Harris to buy healthcare IT provider Carefx, (NYSE: HRS)

Harris Corp (HRS.N) moved to expand its footprint in healthcare information technology by announcing plans to acquire Carefx Corp, a private company that develops healthcare and patient information systems, for $155 million. Carefx, based in Scottsdale, Arizona, has 250 workers. The company has a patient information system called Fusionfx that is used in more than 800 hospitals, healthcare systems, and health information exchanges across North America, Europe and Asia. Harris, a maker of telecommunications equipment, has been buoyed over the past year by orders for its tactical radios used by the military that distribute voice and data in an encrypted form. The company also manages the U.S. Federal Aviation Administration infrastructure that air traffic controllers use to communicate with each other and pilots.

Source