In a concerted effort to boost its portfolio in software, data
and analytics, diversified conglomerate
General Electric Company
) recently inked an agreement to acquire healthcare workforce
analytics firm API Healthcare for an undisclosed sum. The
acquisition, expected to close in the current quarter, is in tune
with General Electric's Industrial Internet strategy and will
augment its Healthcare segment with complementary offerings.
Headquartered in Hartford, Wis., API Healthcare offers staffing
and scheduling; patient classification; human resources; talent
management; payroll; time and attendance; business analytics; and
staffing agency solutions to over 1,600 hospitals and staffing
agencies in the U.S. It was rated as the best staffing and
scheduling solution provider in 2012 by KLAS, an independently
owned and operated company that aims to improve healthcare
technology by measuring vendor performance for its
With labor costs accounting for more than half of the operating
budgets of hospitals, it has become critically imperative to
improve efficiencies through real-time access and proper
utilization of operational data. API Healthcare's solutions are a
strategic fit in this regard and expand GE Healthcare's Hospital
Operations Management portfolio. These services save billions of
dollars in aggregate costs by eliminating unnecessary delays
through immediate intervention and prompt action to eliminate
patient flow bottlenecks.
The acquisition will facilitate General Electric to work with
hospitals and health systems in three key areas. These include -
managing and tracking asset utilization to lower costs and
Patient Flow Optimization:
real-time managing and tracking patients and workflow from
admission to discharge to lower costs and increase transparency;
gather better insight into staffing and scheduling solutions for
proper work assignments. An effective and seamless management of
scheduling, workflow and availability of staff, patients and
assets will in turn help hospitals realize significant
productivity gains and reduce healthcare costs.
General Electric is one of the most diversified technologies and
financial service corporations in the world. The company's
segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Appliances
& Lighting, and GE Capital. GE Healthcare has expertise in
medical imaging and information technologies, medical
diagnostics, patient monitoring systems, disease research, drug
discovery and biopharmaceutical manufacturing technologies.
General Electric currently has a Zacks Rank #3 (Hold). Companies
in the industry that warrant a look include
Carlisle Companies Incorporated
Icahn Enterprises, L.P.
), each carrying a Zacks Rank #2 (Buy).
CRANE CO (CR): Free Stock Analysis Report
CARLISLE COS IN (CSL): Free Stock Analysis
GENL ELECTRIC (GE): Free Stock Analysis
ICAHN ENTERPRIS (IEP): Get Free Report
To read this article on Zacks.com click here.