By Wailin Wong | IBM Corp. said Wednesday it is buying Initiate Systems, a Chicago-based company whose software helps the healthcare industry organize and manage data across disparate computer systems.

Financial terms of the deal were not disclosed. IBM said the transaction should close in the first quarter of the year, after which the company will integrate Initiate Systems into its existing Information Management business.

Initiate Systems was founded in 1995 and has received funding from local backers such as Apex Venture Partners and Blue Cross/Blue Shield Venture Partners. Its clients, according to IBM, include industry bellwethers such as CVS/Caremark, government health agencies and hospital networks.