In a Wednesday statement, technology bigwig IBM Corp. revealed that it is acquiring the Chicago-based, 1995-founded Initiate Systems – a firm whose software plays a vital role in the organization and management of data across a number of diverse computer systems, for the health-care industry and government organizations.

Though IBM refrained from making any disclosure about the financial terms of its Initiate Systems acquisition, it said that the transaction is likely to come through in the first quarter of the year. Once the transaction is closed, Initiate Systems will be incorporated into IBM’s Information Management business.

Noting that Initiate Systems’ clients comprise CVS/Caremark, government health agencies and hospital networks, IBM’s Information Management general manager Arvind Krishna said: “With the addition of Initiate's software and its industry expertise, IBM will offer clients a comprehensive solution for delivering the information they need to improve the well-being of patients at a lower cost.”

Meanwhile, highlighting that Initiate Systems’ software enables healthcare clients to work more efficiently with timely access to patient and clinical data, president and chief executive Bill Conroy said that the company is also getting more requests for electronic medical records from around the globe, including those from Mexico, China, and India.