Charlotte, NC; September 22, 2009 — DecisionPoint International, a global leader in M&A advisory services for middle-market technology clients, announced today that its client, RadarFind Corporation (“RadarFind” or “Company”) has been acquired by TeleTracking Technologies, Inc. (“TeleTracking”). TeleTracking is the industry leader in patient flow automation solutions and RadarFind offers a unique patented Real Time Location System (RTLS) for tracking medical equipment and patients. The acquisition will allow TeleTracking to deliver a truly automatic, enterprise-wide patient flow system to the U.S. hospital market.
“RadarFind was built for the hospital environment based on in-depth interviews with doctors, nurses and hospital administrators,” said Bobby Bahram, RadarFind co-founder. “The combined capabilities of the RadarFind system with TeleTracking’s flow automation software suite will further advance our mutual goal of delivering automated solutions that can simplify hospital practices to improve patient care,” said Bahram.
To improve the numerous aspects of the complex patient flow continuum, hospitals need to discharge patients in a timely manner, turn over rooms more efficiently, move patients comfortably and safely, and place the patient in the most clinically appropriate bed. This requires accurate, real-time information. RadarFind provides an affordable, non-disruptive, enterprise-wide location sensor network to pinpoint patients, staff and expensive equipment. Combined with TeleTracking’s flow automation software, RadarFind will greatly enhance the hospital tracking process.
With clients in virtually every major U.S. city, TeleTracking now can deliver unprecedented real-time location awareness capabilities to hospitals across the nation.
Details of the transaction were not disclosed.
About RadarFind Corporation
RadarFind Corporation, founded in 2003, is a private for-profit company based in Morrisville, North Carolina (near Research Triangle Park). The company offers a unique, patented Real Time Location System (RTLS) for tracking medical equipment and patients. The RadarFind RTLS achieves better location accuracy than competitive real-time location technologies and is the only RTLS system that tracks the status of the equipment (in use, available or needs cleaning). For further information, visit www.RadarFind.com.
About TeleTracking Technologies, Inc.
Since 1991, TeleTracking Technologies, Inc. has been the world leader in patient flow automation solutions with more than 800 hospital clients throughout the United States, Canada and the United Kingdom. Recognized by KLAS® for the last two years as “Category Leader — Bed Management”, TeleTracking continues to lead the industry with thought-leadership and world class software solutions and patient flow redesign services. For further information, visit www.TeleTracking.com.
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Tom Wilson, Managing Director; (704) 248-1124; TWilson@DecisionPointINT.com.