Terms were not disclosed, but the 55-employee provider of cloud-based health information exchange services to hospitals and other health-care providers is expected to continue to operate from its Bucks County location.
MobileMD was spun off by Intraprise Solutions Inc. in 2009. It subsequently raised $4.75 million in capital, according to the MoneyTree Report, released by PricewaterhouseCoopers and the National Venture Capital Association.
MobileMD CEO Todd Fisher said Health Enterprise Partners, of New York, provided the company’s venture funding.
Why did Siemens Healthcare, which has 48,000 employees and annual revenue of 12.4 billion euros ($17.1 billion), want the much smaller MobileMD? John Glaser, the head of its Health Services Business Unit, said it’s all about moving medical data electronically where patients and their doctors need it to go.
Fisher, who will remain as vice president of the MobileMD unit of Siemens, said: “We make sure the right information gets to the right people at the right time, so that things don’t get mixed up. That’s what we do.”