— Phoenix-based Digital Health Solutions Inc. announced Tuesday that it’s acquiring the digital pathology and clinical diagnostic services of Phobos Therapeutics Inc., a biotechnology company that provides digital medical imaging and pathology services to the pharmaceutical industry.
The deal, the first of its kind in the U.S., is expected to close by the end of the year.
Phobos acquired Phobos’ technology, software and management expertise in March, after buying the U-M Hospitals & Allied Health Solutions for $2.3 billion.
Phos’ technology has advanced the medical imaging technology industry by bringing medical images and digital images together in one location, which allows for faster diagnosis, better patient outcomes and faster treatment.
Phobos’ clinical diagnostic technology has also advanced medical imaging industry, according to a statement.
The acquisition will create a fully integrated technology platform that provides the same level of quality and functionality as its imaging platform, which will enable phos to offer new, more comprehensive and efficient diagnostic solutions.
The transaction is subject to customary closing conditions.
It closes on Feb. 18.
Phos has been one of the hottest tech companies in the world.
In the last few years, it has developed technologies such as the automated diagnostics system called Automated Genomics, which detects cancer tumors in living people by sequencing their DNA.
Its Advanced Genomics System is the first clinical diagnostic system that can identify and treat patients with metastatic cancer.
The company also launched the Diagnostic Platform, a suite of digital imaging technology that enables a range of services, including the rapid analysis of the genome for diagnosis.
Phoses chief executive officer, Jim Furlong, said in a statement that the acquisition “will help us accelerate the pace of our clinical diagnostic business and help us build on the phenomenal value we bring to our customers.”
Furlong said the new business will help Phobos accelerate its growth by leveraging our unique, high-quality technology platform and providing the ability to accelerate delivery and accelerate business and product development.
The Phobos deal comes just two weeks after Phobos closed an acquisition of another company, Biosys Imaging Technologies Inc., to form a new, global healthcare technology company, which Furlon said would combine its two healthcare businesses into a single global company.
The combined company will be called Biosynomics.