(By Balaseshan) Zebra Technologies Corp. (NASDAQ:ZBRA), which assist in keeping track of assets and people, is strengthening its position in the healthcare industry with the acquisition of wristband maker LaserBand LLC.
The transaction, which is expected to be immediately add to Zebra's earnings, provides Zebra a solid platform to accelerate its growth in healthcare. Terms of the transaction were not disclosed.
LaserBand is a privately-held provider of patient identification wristbands and related products which are used more than 200 million times per year by thousands of hospitals around the world.
The acquisition extends Zebra's supplies portfolio with patented, proprietary patient safety-related products, bolsters the company's patent portfolio and offers greater access to hospitals and other healthcare organizations.
LaserBand's strong and capable sales organization now has a broader range of products to sell, and Zebra's global presence will provide new opportunities to market LaserBand products in regions outside of North America.
From an industry perspective, regulations continue to evolve, and hospitals are in various stages of adopting the electronic healthcare record (EHR) protocol. Barcoding and wristband technology are integral components of EHR.
Zebra strives to stay ahead of requirements to ensure that hospitals and other health care customers have the broadest array of technology choices to help them reach their objectives in an efficient and cost-effective manner.
ZBRA is trading up 0.45% at $33.82 on Friday. The stock has been trading between $28.20 and $43.07 for the past 52 weeks.