Welcome!

Server Monitoring Authors: Carmen Gonzalez, AppDynamics Blog, Yeshim Deniz, Liz McMillan, Pat Romanski

News Feed Item

AntWorks acquires U.S.-based Benchmark Systems

Barely four months into existence, AntWorks Pte. Ltd. (http://ant.works/) has made its first acquisition by taking over U.S.-based Benchmark Systems (http://www.benchmark-systems.com/) to make possible the development of leading-edge solutions that will advance patient care across the world.

Technology startup AntWorks and Benchmark Systems, a leading cloud-based Healthcare Application Services Provider, today announced that the Board of Directors of both companies have unanimously approved a definitive agreement under which AntWorks will acquire Benchmark Systems, which will generate $10 mln in revenue in the next 12 months.

Through the acquisition, AntWorks expects to play an even greater role in improving physician practices and ambulatory care globally and achieving greater levels of efficiency and reducing healthcare costs for its customers. The addition of Benchmark Systems significantly boosts AntWorks’ presence in the global healthcare solutions sector which is slated to touch $150 billion by 2020.

Healthcare providers in over 120 specialties and sub-specialties use Benchmark Systems’ integrated solutions on a daily basis and its suite of software has been built by leveraging 35 years of expertise in working with ambulatory healthcare providers to solve profitability and limited time issues.

Benchmark Systems will continue to operate as a standalone brand with integrated R&D activities with AntWorks’ existing infrastructure.

The healthcare industry is undergoing a major transformation due to the challenge of providing more cost-effective personalized care.

Majority of the demand for healthcare IT solutions is driven by the growing need to reduce healthcare costs while adhering to the regulatory requirements set by government organizations for ensuring safety, security, and confidentiality of patient information. The growing adoption of health information exchanges (HIEs) and electronic health records (EHRs) systems and improved quality of care and clinical outcomes are some other factors driving growth of the global healthcare IT market.

In addition to the demand for information technology solutions from healthcare providers, the growing need of healthcare insurance providers to efficiently manage an in-depth record of claims and reimbursements is also expected to contribute to the growth of the global healthcare IT market during the forecast years.

Management Commentary

Asheesh Mehra, Co-Founder and CEO of AntWorks, said, “We are at a stage in our life cycle where we are looking at platforms which could help us in going global. The opportunity to acquire Benchmark Systems is fantastic, not least because of the highly scalable cloud based solutions which the company has developed, but also the strong platform the company offers for growth in terms of talent, clients, geographic footprint and offerings.”

He added, “AntWorks will now be able to offer a fully integrated suite of leading edge technology solutions including Patient Portal, Scheduling, Electronic Health Records, Practice Management, and Revenue Cycle Management at a price point that is affordable to solo physicians and large group practices.”

Strategic Benefits of the Acquisition

  • Significantly Increases AntWorks’ Size and scale: Paired with AntWorks, the deal creates a global healthcare sector solutions provider of significant size and scale.
  • Immediately Accretive to AntWorks’ Adjusted Gross: The strategic acquisition will allow AntWorks to reach out to Benchmark Systems’ 400 strong customer base across the 40 states of the U.S.
  • Creates Premier Global Healthcare Solutions Company Focused on Improving Clinical and Economic Outcomes: With the complimentary product portfolios of AntWorks and Benchmark Systems, the company will have enhanced customer relevance and a strengthened competitive position.
  • Creates Stronger, More Diversified Platform to Drive Growth: Benchmark Systems provides services ranging from the initial set up to training, ongoing support, and maintenance services, and offers a full billing and collections outsourcing platform. Benchmark also offers auditing and comparative benchmarking of key metrics against other practices of the same size and specialty. Furthermore, combined entity’s enhanced breath of resources will enable it to further invest in its R&D programs and pursue additional opportunities.
  • Creates Additional Opportunities for Employees: A combined AntWorks and Benchmark Systems will result in a significantly larger global company with presence in over six countries across three continents, delivery centers in two countries and over 400 employees around the world. Employees in the combined company are expected to have more opportunities to pursue careers across a larger, more diversified global business.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Your applications have evolved, your computing needs are changing, and your servers have become more and more dense. But your data center hasn't changed so you can't get the benefits of cheaper, better, smaller, faster... until now. Colovore is Silicon Valley's premier provider of high-density colocation solutions that are a perfect fit for companies operating modern, high-performance hardware. No other Bay Area colo provider can match our density, operating efficiency, and ease of scalability.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
ScaleMP is the leader in virtualization for in-memory high-end computing, providing higher performance and lower total cost of ownership as compared with traditional shared-memory systems. The company's innovative Versatile SMP (vSMP) architecture aggregates multiple x86 systems into a single virtual x86 system, delivering an industry-standard, high-end shared-memory computer. Using software to replace custom hardware and components, ScaleMP offers a new, revolutionary computing paradigm. vSMP F...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
In an age of borderless networks, security for the cloud and security for the corporate network can no longer be separated. Security teams are now presented with the challenge of monitoring and controlling access to these cloud environments, at the same time that developers quickly spin up new cloud instances and executives push forwards new initiatives. The vulnerabilities created by migration to the cloud, such as misconfigurations and compromised credentials, require that security teams t...
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...