Belfast software firm PathXL bought over by Dutch technology giant Philips
Belfast medical software firm PathXL has been bought over by Dutch technology giant Philips.
Belfast medical software company PathXL has seen its turnover rise 45% as a result of several new contracts won during the past year.
The firm creates software for medical researchers to process slides and provides software for use in research, healthcare and education.
During the past 12 months, the company secured contracts with 21 new customers and saw 6,000 new users of its services. The boost brought the total number of people using the firm's software to around 50,000 worldwide.
Speaking about the new deal, of which the value has not been disclosed, Russ Granzow, general manager Manager of Philips Digital Pathology Solutions, said:
"With this acquisition, we are accelerating our drive to support global medical institutions in their transition to digitized pathology workflows.
"Together with PathXL we see a unique opportunity to amplify our combined technology leadership positions. We will be able to offer an intelligent and integrated solution that fulfills many needs in computational pathology, education, workflow solutions and image analytics.
"These important and growing disciplines within pathology will enable a high-quality quantitative analysis of digital whole slide images."
PathXL specialises in digital pathology image analysis, workflow software and educational tools.
PathXL was founded in 2004, and offers a range of digital pathology software applications to research and education segments of pathology and bio-pharma markets.
The firm has approximately 30 employees, offices in the UK and USA and distributors across three continents.