SACRAMENTO, Calif.—A newly formed subsidiary of digital imaging systems maker Ophthalmic Imaging Systems (OTC BB: OISI.OB) last week acquired substantially all assets of AcerMed, a developer of electronic medical records and practice-management software.

The acquisition, done through OIS’s new subsidiary Abraxas Medical Solutions, was approved by the California Central Bankruptcy Court. Irvine, Calif.-based AcerMed filed for Chapter 11 bankruptcy protection in September 2007. Terms of the transaction were not disclosed.

Michael Bina, AcerMed’s former chief executive officer, was named president of Abraxas. During 2008, OIS anticipates expenses and investments of approximately $2 million to expand the operations of Abraxas, an announcement said.

“We are excited to expand upon our current line of informatics offerings through the acquisition of AcerMed’s assets and are confident in our ability to further penetrate the growing market for EMR and practice management software solutions,” said Gil Allon, CEO of Ophthalmic Imaging Systems. “This acquisition allows us to broaden our reach into new markets beyond our current offering of informatics platform to ophthalmologists.”