Strategy to Focus on Core Health Markets in Content and Clinical Decision Support Solutions Globally
Wolters Kluwer, a market leader in the professional health content and clinical decision support market, today announced a plan to divest its pharma business. The company is well-positioned to benefit from healthcare reform trends globally to support the Health division’s growth strategy.
“The planned divestment of the pharma business will focus our Health division on taking full advantage of our leading positions in professional information and clinical decision support solutions, one of the fastest growing areas of Health, to deliver enhanced value to our stakeholders,” said Nancy McKinstry, CEO and Chairman of the Executive Board of Wolters Kluwer.
The pharma business, with leading brands Source and Adis, provides marketing and publications services, business intelligence products, and advanced analytical tools and services to support life sciences professionals from discovery through development and distribution.
“The pharma business delivers great value to our pharmaceutical, biotech and medical device customers globally,” said Bob Becker, President & CEO of Wolters Kluwer Health & Pharma Solutions. “Moving forward, we are excited about continued opportunities to deliver value to global customers through our portfolio of leading brands in content and clinical decision support, which are well-positioned to benefit from healthcare reform trends globally to support the division’s growth strategy.”
Wolters Kluwer Health & Pharma Solutions is a global provider of information, business intelligence and point-of-care solutions for the healthcare industry, with leading brands including Lippincott Williams & Wilkins, Ovid®, Pharmacy OneSource®, Lexicomp and UpToDate®, among others. Its customers include professionals, students, institutions and organizations across the globe. Products and services include industry-leading textbooks and journals, electronic drug data and clinical information, electronic medical, scientific and academic research solutions, clinical decision support solutions and evidence-based content that is easily accessible at the point of care.
The company expects the planned divestiture to close around or shortly after the end of the year. Lazard Middle Market and William Blair & Company are acting as financial advisors to Wolters Kluwer Health & Pharma Solutions for the planned divestiture.
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 had 2010 annual revenues of €3.6 billion, employs approximately 19,000 people worldwide, and maintains operations across Europe, North America, Asia Pacific, and Latin America, serving customers globally. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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