Lockheed Martin’s recent acquisition of Management Systems Designers Incorporated, a Fairfax-based company focused on heath care-related information technology, is just one element of the defense contractor’s ongoing efforts to diversify its business into health and human services.
The acquisition, completed Friday, brings 600 additional employees to Lockheed’s payroll and will help the Bethesda-based corporation expand into the fast-growing field of health care IT.
“As more emphasis on Healthcare IT solutions come forward, we expect these programs to constitute a greater share of our revenues,” Lockheed spokesman Jeffrey Adams said via e-mail. “Healthcare IT and Services sits at the intersection point and is an integral part of many Government IT related activity spaces including homeland security, disaster recovery and emergency response … In many ways, health care IT has become a key component in a transforming national security environment.”
Lockheed also acquired Rockville-based Aspen Systems last year, another technology firm working in the health care space. The company has won multiple contracts from clients such as Defense Health Affairs and the Department of Health and Human Services.
Health care IT has become a hot field as the baby boomer generation ages and health services expects to receive more money than ever. The region’s strong technology sector has Lockheed poised on the forefront of the industry.
“Because of our legacy in technology, that’s where you’re going to find the nexus, on the IT side,” Mid-Atlantic Venture Association President Julia Spicer said.
While there is no region-wide data tracking the number of technology firms working in the health care niche, startup firms have earned more recognition from the investment community.
For example, Wellfolio Inc. presented at last month’s DC Technology Council venture capital fair. The firm’s Web-based program creates customized wellness programs to help small and midsized employers reduce health care costs.
“There’s been an explosion in health care services and we wanted to participate in that,” Wellfolio founder and CEO Irfan Kamal said. “It’s one of the fastest-growing focuses for investors from what I can tell. The traditional-technology investors have been getting up to speed because usually health care and technology investing is done separately.”
