In a concerted effort to boost its portfolio in software, data and analytics, diversified conglomerate General Electric Company (GE) recently completed the acquisition of operating room (OR) management and analytics solutions provider CHCA Computer Systems Inc. The acquisition, which is in line with General Electric’s Industrial Internet strategy, will augment its Healthcare segment with complementary offerings.

Montreal, Canada-based CHCA has radically improved productivity and patient satisfaction in the OR by providing real-time data to support the decision-making and management of surgical procedures through indigenously built Opera software application.

The acquisition is the second of its kind by General Electric after its strategic purchase of healthcare workforce analytics firm API Healthcare. Headquartered in Hartford, WI, API Healthcare offers staffing and scheduling; patient classification; human resources; talent management; payroll; time and attendance; business analytics; and staffing agency solutions to over 1,600 hospitals and staffing agencies in the U.S. It was rated the best staffing and scheduling solution provider in 2012 by KLAS, an independently owned and operated company that aims to improve healthcare technology by measuring vendor performance for its provider.

With labor costs accounting for more than half of the operating budgets of hospitals, it has become critically imperative to improve efficiencies through real-time access and proper utilization of operational data. API Healthcare’s solutions are a strategic fit in this regard and expand GE Healthcare’s Hospital Operations Management portfolio. These services save billions of dollars in aggregate costs by eliminating unnecessary delays through immediate intervention and prompt action to eliminate patient flow bottlenecks.

General Electric is one of the most diversified technologies and financial service corporations in the world. The company’s segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Appliances & Lighting, and GE Capital. GE Healthcare has expertise in medical imaging and information technologies, medical diagnostics, patient monitoring systems, disease research, drug discovery and biopharmaceutical manufacturing technologies.

General Electric currently has a Zacks Rank #4 (Sell). Other companies in the industry that warrant a look include Federal Signal Corp. (FSS) with a Zacks Rank #1 (Strong Buy), and Bunzl plc (BZLFY) and Crane Co. (CR), both of which have a Zacks Rank #2 (Buy).