KAI Innovations, a startup targeting healthcare professionals looking to move their health records online, has acquired Ottawa-based Trimara Corporation.
Trimara is a medtech company that also creates electronic medical record (EMR) solutions for Ontario-based physicians. It’s based on an OSCAR EMR system, a platform developed by McMaster University and supported by institutional investors like the City of Toronto. While the acquisition cost was not disclosed, KAI said it was in the “multi-millions.”
The management team from Trimara will be joining the KAI team. Kris van der Starren, president of Trimara, will be joining as chief information officer. With this acquisition, KAI will now be managing the Electronic Medical Record infrastructure for thousands of Ontario physicians and health providers in 2016.
“The acquisition not only advances our already impressive growth rate, but the resulting team will be one of the strongest and most innovative in the market,” said Arjun Kumar, CEO of KAI Innovations. ““We will continue to offer a top quality solution at economical prices. It will be difficult for competitors to match our offering now that we have reached this position.”
KAI Innovations is looking to expand nationally in 2016, while a majority of its operations will remain focused on Ontario as only 11,212 of almost 30,000 physicians have converted to Electronic Medical Record systems as of November 2015. The expansion plans will include Manitoba and Atlantic Canada, and the company is currently seeking acquisition opportunities in British Columbia.