Lexmark, whose Healthcare Content Management (HCM) system lets providers access and manage patient content, has announced a deal with investors led by Apex Technology and PAG Asia Capital.

The deal calls for Lexmark to be acquired for $40.50 per share in an all-cash transaction with an enterprise value of approximately $3.6 billion, net of cash. Legend Capital Management Co., Ltd. (Legend Capital) is also a member of the consortium.

"The transaction will benefit our customers and provide new opportunities for our employees," said Paul Rooke, Lexmark chairman and chief executive officer in a statement.

No specific word was given concerning Lexmark's health care efforts, but the cash infusion and push to grow Lexmark's market share may mean a bigger presence in the PACS market as well.

Lexmark's comprehensive enterprise HCM, whose "expanded capabilities" were highlighted at the recent HIMSS 2016 in Las Vegas, is a browser-based "zero footprint" design that is "built without legacy PACS components," the firm said in a statement earlier this year.

Among the system's features are:

• A unified vendor neutral archiving and enterprise content management platform.


• Enterprise image connectivity solutions that capture, manage and integrate film, video, visible light and other data.


• NilRead 4.0, Lexmark’s zero-footprint enterprise diagnostic viewer, which gives clinicians universal access to all patient imaging through the electronic medical record system or health information exchange.

The company's ECM for Healthcare is "a suite of applications for scanning and linking paper records, faxes, digital photographs, and other clinical documents directly to core EMR platforms such as Epic, Cerner and Allscripts," according to Lexmark.

“Lexmark health care solutions allow physicians and business users to make health care delivery more efficient, providing quick access to the information needed to make better-informed decisions that impact patient care,” Reynolds C. Bish, vice president, Lexmark and president, Enterprise Software, elaborated.

Lexmark has described this latest deal as a "merger" with the consortium's members. "As part of the Consortium, Lexmark will be able to reach the next level of growth and innovation," said Rooke.

Jackson Wang, Apex Technology chairman, said in a statement that his firm was "excited to work alongside Lexmark as it continues to invest in advanced technologies and solutions to best serve its customers and business partners while simultaneously pursuing additional untapped opportunities for future growth,"

The private equity buyout arm of PAG, Pag Asia Capital, has taken a stake in the deal. PAG has 15 billion dollars under management. "We look forward to working with Lexmark's management team and focusing on expanding the business in the Asia Pacific region," Weijian Shan, group chairman and CEO of PAG, said as part of the announcement of the deal.

Present plans call for Rooke to continue to lead Lexmark after the transaction closes, which is slated for the second half of 2016.

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