True Process, a medical software business based in Wisconsin, has found itself a buyer in Fortune 500 medical equipment firm Baxter International. After they auctioned off the IT consulting arm of the company to California-based client ICU Medical, Todd Dunsirn and Doug Frede realized they needed to make some decisions about True Process’ future. Baxter’s offer made it easy.
“After… [the ICU Medical sale], we evaluated our options and what we wanted to do, whether it was continue to organically grow the company, go out and look for outside funding or find a buyer for the software platform,” Dunsirn, CEO and founder, said of the buyout. “Baxter, it was a perfect fit, perfect timing.”
Todd Dunsirn, CEO and founder, and Doug Frede, President of True Process, founded the company in 2004. They worked together to bootstrap the company through its early years and built it into a multi-million-dollar business that at one time, employed fifty people and reaped $10 million in revenue.
Both Dunsirn and Frede have departed the company but most of the remaining employees were hired by Baxter and continue to work out of the Glendale office. “It was a nice ending, too, that we were able to keep those people here and have a presence like Baxter in the Milwaukee area,” the CEO said.
True Process is best known for its ViNES software, a platform capable of integrating bedside data from multiple medical machines and producing a standardized user interface for that information. “The goal was to collect everything from every device, store it in a patient-centric way, and then be able to organize it by unit, or hospital or however you want,” Todd Dunsirn, CEO of True Process, shared in an interview. “That’s one of the unique things, it’s not just a connectivity engine, it’s a connectivity and a data warehousing engine”
Baxter acknowledged the acquisition in a brief statement but there is little financial information available as the deal has not yet been disclosed in their public filings. In a prepared statement, the company commented on the buyout: “We acquired True Process because we share a passion for innovative technologies that advance smarter and more personalized care.”