The M&A market appears to be heating up as we close out the year. We've seen a series of acquisitions in recent weeks, and we're hearing rumblings of several more. The latest example comes from Bellevue where Pharmacy OneSource -- which has developed an online service to help hospitals manage patient safety and compliance -- has agreed to be acquired by Wolters Kluwer Health. Terms of the deal were not disclosed, but Pharmacy OneSource has been growing rapidly in recent years.

It ranked 335th on Deloitte's Technology Fast 500 list, with revenue growth of 269 percent from 2005 to 2009. The company, led by Tim Gibbons, employs 100 people.

"Our acquisition of Pharmacy OneSource is part of Wolters Kluwer Health's business strategy to drive growth in the point-of-care market, which includes the critical area of the hospital pharmacy, where there is a strong need for resources and tools to drive compliance, greater patient safety and cost reductions," said Arvind Subramanian, chief executive of Wolters Kluwer Health Clinical Solutions.

Based in the Netherlands, Wolters Kluwer posted 2009 revenues of $4.8 billion and employs about 19,300 people worldwide.

The deal is expected to close by the end of the year.