Wolters Kluwer Health Completes Acquisition of Health Language, Inc.
January 5, 2013 - MINNEAPOLIS, MN
Acquisition Expands Wolters Kluwer Health's Point-of-Care Portfolio withMedical Terminology Management Solutions that Ease Meaningful Use & ClinicalDecision Support Adoption
Wolters Kluwer Health, a leading provider ofinformation and business intelligence for professionals, students andinstitutions in medicine, nursing, allied health and pharmacy, todayannouncedthat it has completed the acquisition of Health Language, Inc., a leader inthefast-growing Medical Terminology Management (MTM) market. The acquisitionfurther expands Wolters Kluwer Health's leadership position andcomprehensivesolutions portfolio in the point-of-care market.
The addition of MTM solutions to Wolters Kluwer Health's portfolio ofofferingswill help Wolters Kluwer Health's hospital customers as well as EMR systemsproviders and payers increase adoption and use of electronic healthrecords,meet Meaningful Use requirements, share critical clinical data and takegreateradvantage of technologies that can drive operational efficiencies andimprovequality of care.
"This acquisition of Health Language is a fit with our strategy tocontinuallyexpand our market-leading point-of-care solutions portfolio that helpscustomersaround the globe realize the advantages of healthcare informationtechnologies -within their business operations and at the point of care with patients,"saidArvind Subramanian, President & CEO, Wolters Kluwer Health ClinicalSolutions."Health Language is a recognized leader in the MTM field and the rightexpert toprovide our customers with new levels of system interoperability to meetcurrentand future healthcare information sharing needs."
Health Language's medical content terminology databases and softwaresolutionsenable hospitals, electronic medical record system providers (EMRs) andpayersaround the globe to manage, update and map disparate medical vocabulariesandadministrative codes used in U.S. and international settings. The company'sdatabases and software products include more than 180 standardterminologies andproprietary content sets to enable easier information sharing across manyhealthcare information technology systems.
The company also provides clinical content and professional services toenableinteroperability, web-based terminology mapping, Meaningful Use complianceandICD-10 conversion, a system of coding created by the World HealthOrganizationthat is in various phases of implementation worldwide. Health Language isheadquartered in Denver, Colorado and has approximately 85 employees.
The agreement to acquire Health Language was announced on October 17, 2012.Terms of the acquisition were not disclosed.
About Wolters Kluwer Health
Wolters Kluwer Health is a leading global provider of information, businessintelligence and point-of-care solutions for the healthcare industry.Servingmore than 150 countries and territories worldwide, Wolters Kluwer Health'scustomers include professionals, institutions and students in medicine,nursing,allied health and pharmacy. Major brands include Lippincott Williams &Wilkins,Ovid®, Medknow, UpToDate®, Medi-Span®, Facts &Comparisons®, PharmacyOneSource®, Lexicomp® and ProVation® Medical.
Wolters Kluwer Health is part of Wolters Kluwer, a market-leading globalinformation services company. Wolters Kluwer had 2011 annual revenues ofEUR3.4billion ($4.7 billion), employs approximately 19,000 people worldwide, andmaintains operations in over 40 countries across Europe, North America,AsiaPacific, and Latin America.
This press release contains forward-looking statements. These statementsmay beidentified by words such as "expect", "should", "could", "shall", "will"andsimilar expressions. Wolters Kluwer cautions that such forward-lookingstatements are qualified by certain risks and uncertainties that couldcauseactual results and events to differ materially from what is contemplated bytheforward-looking statements. Factors which could cause actual results todifferfrom these forward-looking statements may include, without limitation,generaleconomic conditions; conditions in the markets in which Wolters Kluwer isengaged; behavior of customers, suppliers, and competitors; technologicaldevelopments; the implementation and execution of new ICT systems oroutsourcing; and legal, tax, and regulatory rules affecting WoltersKluwer'sbusinesses, as well as risks related to mergers, acquisitions, anddivestments.In addition, financial risks such as currency movements, interest ratefluctuations, liquidity, and credit risks could influence future results.Theforegoing list of factors should not be construed as exhaustive. WoltersKluwerdisclaims any intention or obligation to publicly update or revise anyforward-looking statements, whether as a result of new information, futureevents, orotherwise.
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