Mergers & Acquisitions: Agfa buys document management provider HYDMedia
Agfa-Gevaert has acquired HYDMedia GmbH, a document management system provider to hospitals and healthcare centers. The Germany-based company, originally founded by Heydt-Verlags GmbH in Rottenburg, employs around 20 specialists and delivers vendor neutral document management systems to the German speaking healthcare market under the brand name HYDMedia. In 2006 HYDMedia GmbH reported sales of $2.9 million (USD).
HYDMedia GmbH's vendor neutral systems allows Agfa HealthCare's customers to implement it as part of their existing hospital and clinical IT system (HIS/CIS), as part of Agfa HealthCare's comprehensive ORBIS offering, or as a stand-alone solution. HYDMedia's Document Management Systems enable the archiving of medical information such as diagnoses, radiology results, microfilms and clinical and administrative documentation.
The Document Management System market in Germany is experiencing strong growth, with an estimated 400 hospitals actively using the solution and 1100 hospitals still requiring implementation. The Document Management System market in Germany, Austria and Switzerland is expected to generate over $130.2 million in the next four years, with a growth rate of more than 20 percent in 2007, Agfa said.
HYDMedia GmbH's vendor neutral systems allows Agfa HealthCare's customers to implement it as part of their existing hospital and clinical IT system (HIS/CIS), as part of Agfa HealthCare's comprehensive ORBIS offering, or as a stand-alone solution. HYDMedia's Document Management Systems enable the archiving of medical information such as diagnoses, radiology results, microfilms and clinical and administrative documentation.
The Document Management System market in Germany is experiencing strong growth, with an estimated 400 hospitals actively using the solution and 1100 hospitals still requiring implementation. The Document Management System market in Germany, Austria and Switzerland is expected to generate over $130.2 million in the next four years, with a growth rate of more than 20 percent in 2007, Agfa said.