WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)-- Aspyra today announced the completion of a transaction in which the assets of Aspyra, Inc. have been acquired by Orion Healthcare Ventures LLC which will continue operations under the Aspyra name. Aspyra is a global provider of Health Care Information Technology (HCIT) solutions and services. The Company specializes in delivering flexible and robust workflow solutions for both the imaging and laboratory marketplaces. Its applications include Laboratory Information Systems (LIS), Picture Archive Communication Systems (PACS) and Radiology Information Systems (RIS).
“Due to its highly competitive products, significant customer base and committed employees, Aspyra was able to generate positive cash flow in 2010 despite challenging economic conditions. These results demonstrate strong potential for the future,” said Shawn Chalmers, Managing Director of Orion Healthcare Ventures LLC. “Orion is committed to achieving continued profitable growth while investing in R&D to retain Aspyra's competitive position in the marketplace.”
Orion Healthcare Ventures LLC is a closely held investment firm with a focus on HCIT enterprises that show a strong potential for future growth.
“We are pleased to have completed a transaction with Orion. There were several private equity firms and larger companies that approached Aspyra during the past year but those offers were not in the best interest of all stakeholders,” reported Ade Lawal, CEO of Aspyra. “This transaction strengthens the balance sheet and provides for growth, while at the same time maintaining the integrity of Aspyra’s software solutions. We are delighted to continue to meet the needs of our customers with whom we have deep and long-standing relations and we are excited by the many new market opportunities.”
Aspyra will continue to leverage the strong brand and name it has built as a pioneer in providing workflow solutions to the healthcare industry.
About Aspyra
Aspyra has been a global provider of Health Care Information Technology (HCIT) solutions and services to the healthcare industry for over thirty years. The Company specializes in delivering flexible and robust workflow solutions for both the imaging and laboratory marketplaces. Its imaging applications include Radiology Information Systems (RIS) and Picture Archive Communication Systems (PACS) for hospitals, multi-specialty clinics, imaging departments and centers and orthopaedic environments. In addition, the company provides Laboratory Information Systems (LIS) for use in hospitals, clinics, reference laboratories and specialty laboratories of all types. Aspyra's highly scalable systems can be installed as a standalone or integrated to provide a single-vendor, enterprise-wide solution. For more information on Aspyra, visit www.aspyra.com.
CONTACT:
Aspyra, Inc.
Ade Lawal, CEO
818-880-6700
KEYWORDS: United States North America California
INDUSTRY KEYWORDS: Technology Software Practice Management Health Hospitals Radiology
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