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International Business Machines Corp. (NYSE:IBM) Acquires Heritage Group Portfolio Company Explorys

International Business Machines Corp. (NYSE:IBM) has acquired Explorys after the two companies signed a contract in April 2013.

Explorys is a giant data firm that also happens to be one of the subsidiary business ventures under the Heritage group venture capital organization. Explorys has previously received major funds from Heritage group in the company’s attempt to invest in a venture that would bring down healthcare budgets. The project also aimed at increasing the effectiveness of service provision.

International Business Machines Corp. (NYSE:IBM) expects to shape the big data company towards more focus on value. David McClellan, who is one of the board members of Explorys, said that the acquisition will streamline the company towards more success. The Board also expressed their excitement with the new direction that the company is taking. They also expressed their gratitude by accrediting the Heritage group for their constant moral and financial support. The group has been pivotal for the data company in achieving the healthcare vision.

The terms of the contract with IBM have not been revealed. The only thing that we know so far is that the acquisition makes Explorys part of IBM Watson’s health unit. The latter is a cloud service that provides a platform where health data is available. This information can be shared or used for research referencing and studying.

Explorys was initiated I 2009 by Cleveland Clinic. The project started as an extra activity for the clinic. The idea quickly picked up pace and soon revealed its capacity to provide a lot of positive influence in the health industry. It instantly became popular with most of the leading health providers in the United States. Additionally it facilitated improvements in healthcare and patient gratification.

The service has thrived as a tool to relay medical information. Medical practitioners can now access vital information from doctors in different regions. This way, research, and service becomes easier. The project allows information to develop and spread faster, thus saving lives and time that could have been used to perform more research.

Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.

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