The La Palma-based Innovation Institute bought Corona-based information technology specialist Hospitality Business Network Solutions. A purchase price was not disclosed.
Innovation Institute develops healthcare products and services under three units: a medical devices and technology lab, an investment fund, and a division that acquires firms related to healthcare construction, staffing, and medical office design and equipment.
Hospitality Business Network Solutions is a computer network service company that offers managed networks, structured cabling and wireless installation services, mainly to hotels. Company founder Hector Barragan said in a statement the company looks to bring its services to healthcare systems and other industries.
Innovation Institute has five owners—Irvine-based St. Joseph Health; Children’s Hospital of Orange County in Orange; Marriottsville, Md.-based Bon Secours Health System; Baton Rouge, La.-based Franciscan Missionaries of Our Lady Health System; and Sioux Falls, S.D.-based Avera Health—each of which have made minimum investments of $10 million.