CONSHOHOCKEN, Pa., Oct. 22 Wolters Kluwer Health, aleading provider of information and business intelligence for students,professionals and institutions in medicine, nursing, allied health, pharmacyand the pharmaceutical industry, today announced it has completed theacquisition of UpToDate, the leading evidence-based, electronic clinicalinformation resource.
This acquisition reinforces Wolters Kluwer Health's leading position inthe clinical decision support market and fits squarely into the company'sstrategy for growing its business into high growth markets, particularly thefast-growing point of care and electronic medical records markets by expandingits product and services offerings.
"This acquisition encourages continued growth-driven innovation. Ourcompanies share a history of developing successful clinical content andelectronic platforms for clinicians, similar growth strategies and a commonview of the opportunities offered by technological changes happeningthroughout healthcare," said Nancy McKinstry, Wolters Kluwer CEO & Chairman ofthe Executive Board. "UpToDate's proven ability to leverage technology andcontent to help physicians make the right decision at the point of carerepresents a significant growth opportunity for Wolters Kluwer."
"We're very excited to have UpToDate join Wolters Kluwer Health'sportfolio of market-leading information and business intelligence solutionsand we look forward to continue our path of advancing patient care whilereducing medical costs," said Dr. Denise Basow, Editor-In-Chief of UpToDate.
UpToDate is expected to generate annualized projected revenue of $80million in 2008 and has approximately 250 employees. The intention to acquireUpToDate was announced on September 4, 2008. Terms of the acquisition were notdisclosed.
About Wolters Kluwer Health
Wolters Kluwer Health (Conshohocken, PA), a division of Wolters Kluwer, isa leading provider of information and business intelligence for students,professionals and institutions in medicine, nursing, allied health, pharmacyand the pharmaceutical industry. Major brands include traditional publishersof medical and drug reference tools and textbooks, such as Lippincott Williams& Wilkins and Facts & Comparisons(R); electronic information providers, suchas Ovid, Medi-Span(R) and ProVation(R); and pharmaceutical informationproviders such as Adis International and Source(R). Wolters Kluwer Health hasannual revenues (2007) of $1,044 million (euro 761 million) and employsapproximately 2,700 employees globally. For more information, visitwww.WKHealth.com.
Wolters Kluwer is a leading global information services and publishingcompany. The company provides products and services globally for professionalsin the health, tax, accounting, corporate, financial services, legal, andregulatory sectors. Wolters Kluwer has annual revenues (2007) of euro 3.4billion ($4.8 billion), maintains operations in over 33 countries acrossEurope, North America, and Asia Pacific and employs approximately 19,500people worldwide. Wolters Kluwer is headquartered in Amsterdam, theNetherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and areincluded in the AEX and Euronext 100 indices. Visit www.wolterskluwer.com forinformation about our market positions, customers, brands, and organization.
This press release contains forward-looking statements. These statementsmay be identified by words such as "expect," "should," "could," "shall," andsimilar expressions. Wolters Kluwer cautions that such forward-lookingstatements are qualified by certain risks and uncertainties that could causeactual results and events to differ materially from what is contemplated bythe forward-looking statements. Factors which could cause actual results todiffer from these forward-looking statements may include, without limitation,general economic conditions; conditions in the markets in which Wolters Kluweris engaged; behavior of customers, suppliers, and competitors; technologicaldevelopments; the implementation and execution of new ICT systems oroutsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer'sbusinesses, as well as risks related to mergers, acquisitions, anddivestments. In addition, financial risks such as currency movements, interestrate fluctuations, liquidity, and credit risks could influence future results.The foregoing list of factors should not be construed as exhaustive. WoltersKluwer disclaims any intention or obligation to publicly update or revise anyforward-looking statements, whether as a result of new information, futureevents, or otherwise.
SOURCE Wolters Kluwer Health