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Wolters Kluwer Sells Its Healthcare Analytics Business to Symphony Technology Group (STG)Health Division Will Focus on High Growth Clinical Markets (May 14, 2012)
ALPHEN AAN DEN RIJN, THE NETHERLANDS -- (Marketwire) -- 05/14/12 -- Wolters Kluwer, a market-leading global information services company focused on professionals, today announced that it has sold its pharma-related Healthcare Analytics business to private equity firm Symphony Technology Group (STG).
CEO and Chairman of the Executive Board of Wolters Kluwer Nancy McKinstry has said that "the sale of our pharma-related business is part of our strategy to focus on our core health markets and accelerate growth by providing innovative solutions to clinicians globally."
"After conducting a thorough process, the sale to STG is a perfect fit for Healthcare Analytics, its customers and employees," said Bob Becker, CEO and President of Wolters Kluwer Health. "STG and its portfolio companies bring deep expertise in technology and analytics as well as a strong commitment to the pharmaceutical industry."
Healthcare Analytics is a leader in comprehensive patient and physician-level prescription and usage data to the pharmaceutical industry. STG's portfolio companies capture high value data around physicians' treatment decisions in response to pharmaceutical promotion.
This sale is part of the divestiture program of Wolters Kluwer's pharma-related assets, originally announced in July 2011. The Healthcare Analytics unit was reported as part of discontinued business in Wolters Kluwer's 2011 results. While terms of the sale were not disclosed, Wolters Kluwer will retain a minority interest in a newly created STG entity going forward as part of the agreement.
For more information on Wolters Kluwer, visit www.wolterskluwer.com.
About Wolters Kluwer
Wolters Kluwer is a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer's leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.
Wolters Kluwer reported 2011 annual revenues of EUR3.4 billion. The group employs over 18,500 people worldwide and maintains operations in over 40 countries across Europe, North America, Asia Pacific and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are listed on NYSE Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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This press release contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall" 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.
PDF version of Press Release: http://hugin.info/130682/R/1612144/513037.pdf
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