Philips completes takeover of Stentor
10 August 2005
Andover, Mass. USA. Philips Medical Systems, has completed the
acquisition of a 100% stake in Stentor Inc. a supplier of technology for the
distribution, management, and storage of digital medical images. The
takeover is designed to strengthen Philips position as a primary supplier of
technology to the healthcare information technology (IT) market. The
acquisition makes Philips the number 2 supplier of picture archiving and
communications systems (PACS) globally.
"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. "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."
"In the past three months Stentor has experienced its highest revenue
quarter to date, complimented 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 Medical Systems. "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."
Stentor's continued strong business performance was re-enforced by its
continued success on customer satisfaction, having received the #1 PACS
rating for acute care facilities over 200 beds in the KLAS Industry Report
mid-year 2005, following on the heels of its #1 position in 2003 and 2004.
By ranking Stentor first among the top ten PACS providers, the KLAS 2005
Mid-Year Report Card demonstrates Stentor's continued customer-focused
leadership in the PACS category.