Wolters Kluwer Health Completes Acquisition of Lexi-Comp, Inc.
PHILADELPHIA, May 27, 2011 /PRNewswire/ -- Wolters Kluwer Health today announced that it has completed the acquisition of Lexi-Comp, Inc., a leading provider of drug information and clinical content for pharmacists, clinicians and hospitals internationally. The acquisition is the latest in a series of strategic acquisitions Wolters Kluwer Health has made in its Clinical Solutions business as part of the company's strong focus on the point-of-care market.
Arvind Subramanian, President & CEO of Wolters Kluwer Health Clinical Solutions said, "This acquisition is very much aligned with our growth strategy of building out our strong portfolio of Clinical Decision Support (CDS) solutions to further our leadership position in the point-of-care market. This strategy will enable our customers to access leading clinical content, drug information for the retail and hospital pharmacies and innovative mobile offerings.”
Lexi-Comp provides services and content to nearly 1,500 hospitals internationally, has more than 1,700 drug monographs and is particularly strong in the area of mobile content for pharmacists and clinicians. To support and supplement effective clinician-patient interactions, Lexi-Comp also provides patient medication leaflets in 19 languages. The company is headquartered near Cleveland, Ohio and has approximately 150 employees.
The intent to acquire Lexi-Comp was announced on April 27, 2011. Terms of the acquisition were not disclosed.
About Wolters Kluwer Health
Wolters Kluwer Health (Philadelphia, PA) is a leading global provider of information, business intelligence and point-of-care solutions for the healthcare industry. Serving more than 150 countries and territories worldwide, Wolters Kluwer Health's customers include professionals, institutions and students in medicine, nursing, allied health and pharmacy. Major brands include traditional publishers of medical and drug reference tools, journals and textbooks, such as Lippincott Williams & Wilkins; and electronic information providers, such as Ovid®, UpToDate®, Medi-Span®, Facts & Comparisons®, Pharmacy OneSource® and ProVation® Medical.
Wolters Kluwer Health is part of Wolters Kluwer, a market-leading global information services company. Wolters Kluwer has 2010 annual revenues of euro 3.6 billion ($4.7 billion), employs approximately 19,000 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America.
This press release contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall", "will" and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Wolters Kluwer Health