Abbott buys lab info management systems provider for $123M

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Abbott has formed a definitive agreement to acquire Starlims Technologies, a provider of laboratory information management systems, for approximately $123 million in cash.

The Abbott Park, Ill.-based company said the acquisition heightens its position in the global diagnostics market, providing Web-based applications for laboratories to store, retrieve and analyze a volume of clinical, managerial and administrative data.

According to Abbott, “informatics systems are becoming increasingly important to clinical laboratories as a means to automate the retrieval, communication and management of medical and laboratory data and aid compliance with global regulatory and industry standards.”

Abbott plans to integrate Starlims into its portfolio of laboratory information management products.

Under the terms of the agreement, Abbott will acquire all outstanding equity of Starlims. The Hollywood, Fla.-based Starlims, which has approximately 160 employees globally, currently has approximately $18 million in cash on hand.