Wolters Kluwer acquires Firecracker for its medical education platform
Wolters Kluwer Health completed its acquisition of Firecracker, a study-planning, learning application used by 20 percent of medical students, the company announced this week after making the initial plans on March 5.
Firecracker will be added to Wolters Kluwer Health’s Learning, Research and Practice Group, the arm focused on high-quality medical education and practices under Lippincott, a global consultancy firm.
The platform leverages technology and a data-driven approach to bolster medical student education for high-level exams, like the U.S. medical licensing exam. The platform, powered by an adaptive algorithm that personalizes learning and remediation to the student, answers more than 85 questions each year.
The aim is to support continued content retention and preparedness for medical school finals and certification tests. The acquisition, according to Wolters Kluwer Health CEO Diana Nole, will expand the company’s evidence-based offerings.
Headquartered in Boston, Firecracker was founded in 2009 and has 16 employees. Officials expect the acquisition will bring a return on invested capital within three to five years of completion. Further, they expect the acquisition to “have an immaterial impact on adjusted earnings.”
“Combined with Lippincott premium content and solutions, Firecracker enhances our position in the medical education market and helps us further leverage machine learning and advanced technologies to help clinicians deliver the best quality care to patients,” Nole said in a statement.