Standard Register acquires Dialog Medical
The Standard Register Company announced Wednesday that it will acquire Atlanta-based Dialog Medical, which develops tools for managing the patient informed consent process.
Dialog Medical, which has approximately $5 million in annual revenue, will be operated as a wholly owned subsidiary of Standard Register and will report through Standard Register Healthcare. Terms of the transaction, which is expected to close by June 30, were not disclosed.
[See also: Standard Register builds e-prescribing portfolio.]
Standard Register Healthcare, a business unit of Standard Register, provides services and technology for patient identification verification, patient safety and streamlining workflow – serving more than 3,000 clients, including 62 percent of U.S. hospitals.
Dialog Medical, a privately held company, specializes in standardizing, automating and documenting the informed consent process. Its iMedConsent solution, an application used to assist with educating and informing patients about conditions, diagnoses and treatments, is used by 200 hospitals and approximately 15,000 physicians. The app streamlines internal practices, standardizes communication across the enterprise and better documents informed consent encounters.
“This transaction is a good strategic fit," said Joseph P. Morgan, Jr., president and CEO of Standard Register. "It strengthens and broadens our leadership in the healthcare market, and helps our customers advance their reputations by improving patient safety, compliance, critical patient communications and operational performance.”
[See also: Tiger team calls for providing patients with 'meaningful choice' in consent decisions.]
Brad Cates, president of Standard Register Healthcare, said the deal "brings together two organizations with shared values and complementary lines of business. By leveraging the combined strength of both companies, we are building an even stronger healthcare business unit with scale, density and world-class products and services.”
Standard Register Healthcare and Dialog Medical will continue to serve their respective customers as well as go to market with a combined portfolio of products and services. Dialog Medical, which employs 30 people, will continue to operate from its office in Atlanta, and will report to Brad Cates, president of Standard Register Healthcare.
“Together, Dialog Medical and Standard Register bring unmatched value to hospitals, physicians and other healthcare providers,” said Michael Burke, president of Dialog Medical. “Each has built a trusted leadership position, and we will capitalize upon each other’s distinct capabilities to positively impact patient safety and organizational efficiency.”