Healthcare tech firm Epic Systems says it won't consider any Apple buyout offer
Despite its potentially lucrative nature, the CEO of healthcare IT firm Epic Systems says she won't consider any possible takeover offer by Apple.
"We're not going to do that," Judy Faulkner told Healthcare IT News at a conference earlier this week. "It was just very gratifying that not a single health system contacted us about it and said they were worried. They all said they laughed."
The executive was responding to CNBC "Mad Money" host Jim Cramer, who argued that Apple should buy Epic since it sells medical record software to major U.S. hospitals. Apple launched a Health Records feature in March 2018, allowing encrypted patient data to be saved in the iOS Health app for quick access and sharing with caregivers. Earlier this week Apple announced plans to bring the technology to U.S. military veterans.
"I think the thing that amazed me most about it is not that he said it. But that the message is so clear around the whole industry that we wouldn't do that," Faulkner continued. "And nobody questioned it. That was a real achievement, I think."
Faulkner is unusual in the corporate world in refusing to do deals or go public on the stock market. While that strategy carries risks, it also has advantages, such as not being beholden to shareholders concerned only about their own return.