Standard Register to Acquire Dialog Medical
Thursday, May 26, 2011
Press release from the issuing company
The Standard Register Company announced today that it has entered into a definitive agreement under which Standard Register will acquire 100% of the ownership interest in Dialog Medical, the leader in solutions for managing the patient informed consent process. Dialog Medical, which has approximately $5 million in annual revenue, will be operated as a wholly owned subsidiary of Standard Register and will report through Standard Register Healthcare. Terms of the transaction, which is expected to close by June 30, were not disclosed.
Standard Register Healthcare, a business unit of Standard Register, provides services and technology for patient identification verification, patient safety and streamlining workflow, serving more than 3,000 clients including 62 percent of U.S. hospitals. Dialog Medical, a privately held company headquartered in Atlanta, Ga., is the recognized leader in standardizing, automating and documenting the informed consent process. Its iMedConsent(TM) solution is used by 200 hospitals and approximately 15,000 physicians. iMedConsent(TM) is an application that physicians use to assist with educating and informing patients about conditions, diagnoses and treatments. It streamlines internal practices, standardizes communication across the enterprise and better documents informed consent encounters.
"This transaction is a good strategic fit; it strengthens and broadens our leadership in the healthcare market, and helps our customers advance their reputations by improving patient safety, compliance, critical patient communications and operational performance," said Joseph P. Morgan, Jr., president and chief executive officer of Standard Register.
"Standard Register's acquisition of Dialog Medical brings together two organizations with shared values and complementary lines of business. By leveraging the combined strength of both companies, we are building an even stronger healthcare business unit with scale, density and world-class products and services," said Brad Cates, president of Standard Register Healthcare. "We are very excited to leverage the combined power of the new business to better serve our customers and innovate for the healthcare market."
Standard Register Healthcare and Dialog Medical will continue to serve their respective customers as well as go to market with a combined portfolio of products and services. Dialog Medical, which employs 30 people, will continue to operate from its office in Atlanta, and will report to Brad Cates, president of Standard Register Healthcare.
"Together, Dialog Medical and Standard Register bring unmatched value to hospitals, physicians and other healthcare providers," said Michael Burke, president of Dialog Medical. "Each has built a trusted leadership position, and we will capitalize upon each other's distinct capabilities to positively impact patient safety and organizational efficiency."
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