Monday, 8th September 2008
On September 8, 2008, Wolters Kluwer Health (WKH), an information and business intelligence provider in the health arena, announced its intentions to acquire UpToDate, an evidence-based electronic clinical information resource. With this acquisition WKH seeks to strengthen its footprint in the growth market for point of care and electronical medical records. UpToDate will become part of WKH creating opportunities not previously available.
Nancy McKinstry, Wolters Kluwer CEO & Chairman of the Executive Board, said, "Evidence-based medicine is having a significant impact, helping to deliver healthcare faster and more effectively. UpToDate's proven ability to leverage technology and content to help physicians make the right decision at the point of care represents a significant growth opportunity for us. This acquisition will strengthen Wolters Kluwer's leading position in the clinical decision support market and fits squarely into our strategy for building our Health business."
UpToDate is a leading provider of practical and reliable information at the point of care. About 3,800 physician experts provide content on how to diagnose and treat thousands of conditions in thirteen medical specialties. UpToDate's customer base consists of rougly 320,000 clinicians in 130 countries, the majority of academic medical centers in the USA as well as thousands of patients. With its services UpToDate will likely achieve revenues of USD 80 million for 2008.
"The combination of UpToDate and Wolters Kluwer Health provides the market with a unique value proposition for advancing patient care while reducing medical costs," said Dr. Denise Basow, Editor-In-Chief of UpToDate. "Jointly, we can deliver a full suite of solutions to physicians and patients."
Terms of the deal have not been disclosed, yet. The goal is to have the transaction completed by Q4 2008.
Wolters Kluwer Health - www.wkhealth.com
UpToDate - www.uptodate.com
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