WINSTON-SALEM, N.C. – PointDX, one of the first companies started through the Wake Forest University Office of Technology Asset Management, has been sold to IDX Systems Corp. of Burlington, Vt.
The purchase price is approximately $8 million.
Michael A. Batalia, Ph.D., director of the Office of Technology Asset Management, said the sale of PointDX is a success story.
“Wake Forest is one of the largest shareholders in PointDX,” Batalia said. “We helped grow the company from a raw startup to a viable freestanding company. PointDX licensed technologies developed within the Department of Radiology and forged relationships with industry leaders such as GE Medical Systems and Siemens AG .
“Now it has been sold to another leader in the field, IDX” he said. “This demonstrates that our community has the ability to go from start to finish.”
Robert Anderson Jr., chief operating officer of PointDX, said the company designed and developed radiology diagnostic software that gives a radiologist “the ability to scan CT and MRI images and identify a problem area.”
The data is processed with an electronic thumbnail that can be embedded into an email report about the findings from the radiologist to the patient’s physician giving that doctor the chance to view the actual images from the CT or MRI, including in three-dimensional renderings, Anderson said.
The company was incorporated in 1999 and received the license from Wake Forest for the intellectual property in September 2000.
David J. Vining, M.D.. the founder and chief medical officer of PointDX, was an associate professor of diagnostic radiology at Wake Forest University School of Medicine when the company was founded. He left his full-time position at the medical school in 2001 to assume his leadership role at PointDx..
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About Wake Forest University Baptist Medical Center: Wake Forest Baptist is an academic health system comprised of North Carolina Baptist Hospital and Wake Forest University Health Sciences, which operates the university’s School of Medicine. The system comprises 1,298 acute care, psychiatric, rehabilitation and long-term care beds and is consistently ranked as one of “America’s Best Hospitals” by U.S. News & World Report