Health IT security company Imprivata has acquired HT Systems, the provider of palm-vein based biometric patient identification systems, to enter into the emerging patient identification market.
The acquisition of HT Systems and its PatientSecure biometric patient identification technology supports Imprivata’s long-term vision to be the leading provider of healthcare IT security solutions that increase provider productivity, enable patient engagement, and improve patient safety.
“We are very excited that with HT Systems, we are acquiring a leading biometric patient identification product that we can leverage through our global distribution channel and partner ecosystem to expand rapidly and meet our customers’ needs,” said Omar Hussain, president and CEO of Imprivata.
HT Systems’ PatientSecure biometric patient identification system has thus far identified more than 22 million patients.Based in Tampa, Florida, HT Systems serves hospital systems and large medical groups across the U.S. Its PatientSecure biometric patient identification system has identified more than 22 million patients across 65 healthcare systems comprising more than 350 hospitals and thousands of clinics. PatientSecure provides positive patient identification by distinguishing the vein pattern in a patient’s hand and retrieving the correct medical record in the healthcare provider’s electronic health record system at patient check-in. This improves patient safety and satisfaction, eliminates duplicate medical records and overlays, and guards against identity theft and insurance fraud.
Under the terms of the transaction, Imprivata paid approximately $19.1 million in cash at closing. Additionally, Imprivata will pay up to $1.9 million in retention-based payments two years from closing plus up to $5 million based on achieving certain sales targets over the two-year period following the transaction.
Further information regarding the material terms and conditions contained in the definitive agreement will be included in Imprivata’s current report on Form 8-K, which will be filed with the SEC in connection with the transaction.