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Trimedx to acquire Aramark's health tech business for $300 million

by John R. Fischer, Senior Reporter | September 18, 2018
Business Affairs HTM
TRIMEDX to acquire Aramark
HealthCare Technologies business
TRIMEDX has agreed to acquire Aramark’s HealthCare Technologies (HCT) business for $300 million.

The purchase of the division will expand the technology and resources of the Indiana-based enterprise to more than 500 healthcare providers across the U.S. that depend on the HCT business for tasks ranging from repair and maintenance to outsourcing of clinical engineering services.

“Aramark HCT is an ideal fit, as the combined organizations will focus exclusively on delivering best-in-class clinical asset management services to healthcare providers,” TRIMEDX told HCB News. “This is a natural evolution in our growth journey.”

Spanning more than 45 years, the HCT business has accumulated over 1,500 technicians, engineers and program staff since its acquisition by Aramark in 2001 and offers a range of services that include maintenance and refurbishment of high-end medical imaging equipment.

Its sale is expected to broaden TRIMEDX’s customer base, enabling it to enhance its clinical and financial outcomes, as well as device security and compliance through the sale of its technology.

The decision to sell, according to chairman, president and CEO Eric J. Foss, stems from Aramark’s desire to focus its attention on “our core food, facilities and uniform businesses” and will include the transfer of HCT team members from Aramark to TRIMEDX.

“This transaction represents the latest step in our commitment to deliver sustainable shareholder value, while also increasing our financial flexibility,” said Foss in a statement. “We will use the majority of proceeds to strengthen our balance sheet through debt reduction and will also repurchase $50 million of shares after closing of the sale.”

One service offered by the HCT business is outsourcing, a task that TRIMEDX was recently recognized for by Black Book, which rated the clinical asset management enterprise in a spring survey as one of the top-ranked outsourcing vendors.

The news also follows the recent addition of Ramy Boghdadi as the company's new executive vice president of strategic client value and relationships, to assist in providing enterprise-wide business development and client account management.

The agreement is subject to customary closing conditions and regulatory approvals, and is expected to close in the fourth quarter of the 2018 calendar year.

Both TRIMEDX and Aramark declined to elaborate on specifics of the deal until completion of the transaction.

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