Drug multinational Bayer AG says it has struck a deal to buy Canadian healthcare software developer Radimetrics Inc.
Subsidiary Bayer HealthCare said Monday the principals of privately held Radimetrics have agreed to sell of their shares in the company.
Radimetrics' key product is eXposure, software that accurately measures a patient's radiation dose exposure over the course of multiple imaging procedures or scans.
Bayer HealthCare said eXposure also serves as a quality control and improvement platform.
Financial details of the agreement were not disclosed.
"This is a strategic acquisition as Bayer moves its Radiology & Interventional business forward to be the end-to-end provider of products, solutions and service for the radiology customer," Alan Main, head of Bayer HealthCare's medical care unit, said in a news release.
Radimetrics staff in Toronto and Scotland will be folded into Bayer, expanding Bayer's existing informatics group.
Radimetrics was founded in 2009.
Mr. Main said Bayer HealthCare's Radiology & Interventional group is poised as a market leader to help boost sales of eXposure.
Radimetrics president and founder Gregory Couch said the deal is "a new chapter in a great alliance which began earlier this year."