Harris makes $155M dive into health IT with Carefx purchase

Harris, a communications and IT company, has entered into a definitive agreement to acquire privately held Carefx, a developer of interoperability workflow technologies built on its Fusionfx platform, for approximately $155 million.

Melbourne, Fla.-based Harris said the acquisition will expand its capabilities in government healthcare, as well as provide an entry into the commercial healthcare market.

Founded in 2002, Carefx is headquartered in Scottsdale, Ariz., and has nearly 250 employees worldwide. The company’s Fusionfx platform is an interoperable technology suite for the retrieval, access and use of patient information. Fusionfx aggregates patient information across existing systems and delivers it in a single view to physicians at the point of care, according to Harris.

The Fusionfx platform is used in more than 800 hospitals, healthcare systems and health information exchanges across North America, Europe and Asia. Carefx also is partnered with infrastructure and health IT vendors, including Cerner, GE Healthcare, IBM and Oracle.

Under the terms of the agreement, Harris will purchase Carefx for $155 million in cash, subject to post-closing adjustments. The acquisition of Carefx is subject to customary closing conditions and is expected to close in the fourth quarter of fiscal year 2011. Harris will finance the acquisition using a combination of cash on hand and commercial paper.