Philips Medical Systems this week announced the completion of the acquisition of web-based PACS provider Stentor. The booth at this week's American Healthcare Radiology Administrators meeting in San Antonio that Stentor was to occupy reflected the change - as a Philips sign hung above a sign reminiscent of the phrasing used by a rock star stating "formerly Stentor."
Philips has said it made the move to buy Stentor in an effort to step up its healthcare IT capabilities especially in the PACS arena and makes the company the No. 2 global supplier of such systems. The move also will better enable Philips to equip EHRs with diagnostic quality medical images that can be viewed throughout the hospital and via the internet.
"We are convinced that Stentor and its people are a great asset to Philips and our customers," said Jouko Karvinen, CEO of Philips Medical Systems in a release. "We are able to offer a complete and integrated portfolio from diagnostic imaging and monitoring to departmental IT solutions and enterprise IT to our customers. In addition, it will help us become an even better partner for healthcare organizations."
Stentor, now called Philip Medical System's Healthcare IT business with headquarters in Brisbane, Calif., will now become the global hub of Philips' overall PACS business.
"In the past three months Stentor has experienced its highest revenue quarter to date, complemented by 14 new customer contracts, including a 7-year contract renewal from Henry Ford Health System," said Oran Muduroglu, former Stentor president and now head of the global PACS business for Philips, in a release. "Moving forwards as the Philips Global PACS Business, we will leverage Philips leading position in the healthcare IT space and continue to focus on our customers and dedicate ourselves to providing superior solutions that in turn, enable providers to enhance patient care, increase efficiencies and lower costs."
No comment was made regarding the impact on current Philips PACS users of the acquisition.