Ness Technologies Announces Sale of its Ownership Interest in dbMotion
03 January 2007
Ness Technologies, a global provider of IT services and solutions, today announced that it has sold its ownership interest in dbMotion Ltd. for US$6 million to the other shareholders of dbMotion.
dbMotion was spun-off from Ness Technologies in 2004. dbMotion is a provider of healthcare information integration software that facilitates interoperability and Health Information Exchange (HIE) for health information networks and integrated healthcare delivery systems.
The technology was originally developed by Ness Technologies. In February 2006, the dbMotion™ Solution was recognized as a "best in class" winner in the Interoperability/RHIO category of the 2006 Microsoft Healthcare Users Group (MS-HUG) annual awards.
Recently, the University of Pittsburgh Medical Center (UPMC) and dbMotion announced an US$84 million initiative to create one of the largest models of true interoperability in healthcare. dbMotion will receive at least US$35 million of this amount, including an investment by UPMC. dbMotion's unique technology will provide a flexible platform for UPMC's clinicians to securely access integrated patient information across its 19 hospitals and 400 outpatient sites and doctors' offices, without replacing existing systems.
"We had a good opportunity to realize value from our investment in dbMotion and decided to sell our ownership interest in the company," said Raviv Zoller, President and CEO of Ness Technologies. "This is the second time in the past year that we surfaced value from the sale of IP, and the divestment represents another step in Ness Technologies' strategy to focus on its core business of IT services. We are proud of the progress made by this Ness-originated enterprise and we will continue to cooperate with dbMotion wherever our services are required. We wish the management team and the shareholders of dbMotion every success in the future."
