Baltimore Sun: University of Maryland Start-Up Bought by Global Health Tech Company
Tuesday, November 28, 2017
A start-up company launched with technology licensed from the University of Maryland School of Medicine was bought by Royal Philips, the global health technology firm announced. Baltimore-based Analytical Informatics Inc. and its technology will be rolled into the Philips unit Philips Radiology Solutions, expanding its offerings more quickly.
“Integrating Analytical Informatics’ software tools and applications into our current offerings will enable us to accelerate the delivery of next-generation technology, software and services, to bring the power of operational intelligence and decision support to radiology,” said Sham Sokka, general manager of radiology solutions at Philips.
Netherlands-based Philips did not disclose the financial details of the deal. Philips is a global giant with more than $20 billion in annual sales that employs 73,000 people.
Analytical Informatics was founded in 2011 as a University of Maryland, Baltimore start-up after licensing the technology that is a collection of tools and applications aimed at providing real-time information and solving workflow problems in medical imaging through the use of data. Other hospitals and tech companies already use the products.
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