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Westlake Village IT Firm Acquired

Aspyra, a Westlake Village healthcare information technology company, has been acquired by investment firm Orion Healthcare Ventures LLC, a Boston venture capital firm.

Aspyra’s products include laboratory information systems, radiology information systems and picture archive systems for hospitals and other healthcare facilities. Terms were not disclosed for the deal, which closed Monday.

“There were several private equity firms and larger companies that approached Aspyra during the past year but those offers were not in the best interest of all stakeholders,” Aspyra Chief Executive Ade Lawal said in a statement. “This transaction strengthens the balance sheet and provides for growth, while at the same time maintaining the integrity of Aspyra’s software solutions.”

Shawn Chalmers, Orion’s managing director, said in a statement that his firm plans to significant research and development investments “to retain Aspyra’s competitive position in the marketplace.” Aspyra will continue to operate under the same name.

Aspyra delisted its stock from the New York Stock Exchange last October to cut costs. It most recently listed on the Pink Sheets at 15 cents per share.

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