Wolters Kluwer Health to Acquire Health Language, Inc., a Leader in the Medical Terminology Management Market
(Thomson Reuters ONE) -
Company Eases Meaningful Use & Clinical Decision Support Adoption for Hospitals,
EMRs and Payers
Minneapolis, MN. (October 17, 2012) - Wolters Kluwer Health, a leading provider
of information and business intelligence for professionals, students and
institutions in medicine, nursing, allied health and pharmacy, announced today
that it has entered into an agreement to acquire Health Language, Inc., a leader
in Medical Terminology Management (MTM), a rapidly growing segment of the point-
of-care market. The acquisition is part of Wolters Kluwer Health's strategy to
continually enhance its leadership position in the point of care market by
providing customers with access to a comprehensive set of evidence-based disease
and drug information knowledge platforms and robust software solutions.
Health Language's medical content terminology databases and software solutions
enable hospitals, electronic medical record system providers (EMRs) and payers
around the globe to manage, update and map disparate medical vocabularies and
administrative codes used in U.S. and international settings. MTM is expected to
see rapid growth as healthcare entities become increasingly interconnected and
the need for sharing clinical data grows. This trend has been accelerated by
Meaningful Use legislation in the U.S., promoting the use of electronic health
records and evidence-based medicine to improve quality standards in health care.
"Medical terminology management is quickly emerging as a core point-of-care
market as hospitals, EMRs and payers are increasingly focused on
interoperability of systems to realize the advantages of healthcare information
technology," said Arvind Subramanian, President & CEO, Wolters Kluwer Health
Clinical Solutions. "Health Language has built a leadership position in meeting
this important interoperability need. This acquisition allows Wolters Kluwer
Health to enhance its current market leading point-of-care solutions and better
position its customers to fully leverage existing and emerging healthcare
quality and reimbursement initiatives. The acquisition also provides Wolters
Kluwer Health with greater access to payers, key customers for various Health
Language offerings."
Health Language databases and software products include more than 180 standard
terminologies and proprietary content sets to enable easier information sharing
across many healthcare information technology systems. The company also provides
clinical content and professional services to enable interoperability, web-based
terminology mapping, Meaningful Use compliance and ICD-10 conversion, a system
of coding created by the World Health Organization that is in various phases of
implementation worldwide.
"Over the past 12 years, we have built trusted solutions for healthcare
providers, payers and EHR vendors to address data management challenges-from
legislative measures and new care models, to data analysis and enhanced decision
support," said George Schwend, President and CEO of Health Language. "We are
energized by this new chapter with Wolters Kluwer Health and look forward to
supporting their focus on further extending their industry reach and offering
the most robust point-of-care products and services available in the market."
The company's products and services are highly complementary with those of
Wolters Kluwer Health, which is an industry leader in providing a comprehensive
suite of point-of-care products and services, including evidence-based clinical
disease and drug information knowledge platforms, clinical documentation
software and clinical surveillance and pharmacy productivity software solutions.
Health Language is headquartered in Denver, Colorado and has approximately 85
employees.
The transaction is subject to customary closing conditions, including the
receipt of required regulatory approvals. Terms of the acquisition were not
disclosed. For more information on Wolters Kluwer Health, visit
www.wolterskluwerhealth.com. For more information on Health Language, visit
www.healthlanguage.com.
Triple Tree, LLC acted as exclusive advisor to Health Language, Inc..
About Wolters Kluwer Health
Wolters Kluwer Health (Philadelphia, PA) is a leading global provider of
information, business intelligence and point-of-care solutions for the
healthcare industry. Serving more than 150 countries and territories worldwide,
Wolters Kluwer Health's customers 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(®), Pharmacy OneSource(®), Lexicomp(®) and ProVation(®)
Medical.
Wolters Kluwer Health is part of Wolters Kluwer, a market-leading global
information services company. Wolters Kluwer had 2011 annual revenues of ?3.4
billion ($4.7 billion), employs approximately 19,000 people worldwide, and
maintains operations in over 40 countries across Europe, North America, Asia
Pacific, and Latin America.
Forward-looking Statements
This press release contains forward-looking statements. These statements may be
identified by words such as "expect", "should", "could", "shall", "will" and
similar expressions. Wolters Kluwer cautions that such forward-looking
statements are qualified by certain risks and uncertainties that could cause
actual results and events to differ materially from what is contemplated by the
forward-looking statements. Factors which could cause actual results to differ
from these forward-looking statements may include, without limitation, general
economic conditions; conditions in the markets in which Wolters Kluwer is
engaged; behavior of customers, suppliers, and competitors; technological
developments; the implementation and execution of new ICT systems or
outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer's
businesses, as well as risks related to mergers, acquisitions, and divestments.
In addition, financial risks such as currency movements, interest rate
fluctuations, liquidity, and credit risks could influence future results. The
foregoing list of factors should not be construed as exhaustive. Wolters Kluwer
disclaims any intention or obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events, or
otherwise.
Contact: Media Investors/Analysts
Robert Dekker Meg Geldens
+1 (215) 521 8928 +31 (0)172 641 407
robert.dekker(at)wolterskluwer.com ir(at)wolterskluwer.com
PDF version of Press Release:
http://hugin.info/130682/R/1649726/531967.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Wolters Kluwer NV via Thomson Reuters ONE
[HUG#1649726]
Unternehmensinformation / Kurzprofil:
Datum: 17.10.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 193186
Anzahl Zeichen: 7997
contact information:
Town:
Alphen aan den Rijn
Kategorie:
Business News
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