Meditech plans to acquire long-time partner Patient Care Technologies (PtCT), a provider of home care, hospice, tele-health, and benchmarking software. Upon completion of the acquisition, PtCT will become an independent subsidiary of Meditech. Lawrence A. Polimeno, vice chairman of Meditech, will assume the additional role of President and CEO of PtCT.
"We've enjoyed a long relationship, including a partial ownership stake, with PtCT since the very beginning of their founding," said Polimeno. "Both companies write software using the same technologies, and two members of our board of directors are long-time members of PtCT's board of directors. This acquisition was spurred by the long relationship between the two companies and PtCT's development of exciting, innovative solutions for the home care industry."
PtCT's offerings include Maestro, an enterprise software offering designed to facilitate the process management of all facets of home health, hospice, and private duty care delivery; and well@home, a tele-management product which provides home care patients with education, monitoring services, and compliance management features.
"We'll be able to more closely integrate these and other PtCT product offerings with our own, giving our customers a comprehensive solution for chronic disease management," added Polimeno. "This is where the healthcare industry is headed in the years ahead."
Specific terms of the acquisition were not released.