Wolters Kluwer Health to acquire UpToDate
Wolters Kluwer Health, a division of Wolters Kluwer, plans to acquire UpToDate, an evidence-based electronic clinical information resource.
Wolters Kluwer Health officials say the acquisition will strengthen the company's portfolio in the growing point-of-care and electronic medical record markets by expanding its product and service offerings.
"Evidence-based medicine is having a significant impact, helping to deliver healthcare faster and more effectively," said Nancy McKinstry, Wolters Kluwer's CEO and chairman of the Executive Board. "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, based in Waltham, Mass., collaborates with some 3,800 physician experts, who use their clinical experience and review of the latest research to create recommendations on how to diagnose and treat thousands of conditions in 13 medical specialties.
"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 Denise Basow, editor-in-chief of UpToDate. "Jointly, we can deliver a full suite of solutions to physicians and patients."
UpToDate has approximately 250 employees with international sales offices in the Netherlands and Japan. This year the company is expected to generate annualized projected revenue of $80 million. In the last four years, UpToDate has demonstrated consistent double-digit organic revenue growth, officials said.
The transaction is expected to be completed in the fourth quarter of 2008 pending regulatory approval. Terms of the deal were not disclosed.