Wolters Kluwer Health, a clinical reference information provider that among other things offers the UpToDate series of Web and mobile apps, has announced plans to acquire another big name in mobile medical reference: Lexi-Comp. Wolters Kluwer described the deal as "the latest in a series of strategic acquisitions" for its clinical solutions business, which focuses on point of care services. Terms of the deal were not disclosed.
The company stated that the acquisition would "enable pharmacist, physician and nurse customers to use an extended suite of mobile capabilities and online platforms, making access to critical medical information more convenient than ever before."
Wolters Kluwer already has a partnership with Lexi-Comp, which provides some of the reference materials in WK's UpToDate. UpToDate offers clinical reference materials on more than 8,500 topics and in 17 medical specialties authored by more than 4,400 expert clinicians. The online and mobile service counts 400,000 users. who also provide feedback on the content. Wolters Kluwer acquired UpToDate in October of 2008 when it had 3,800 expert authors covering 7,400 topics. Terms of that deal were not disclosed either.
Wolters Kluwer stated that following the acquisition of Lexi-Comp some 500,000 pharmacists and clinicians in 149 countries will have access to its clinical solutions services.
We noticed in September 2009 -- about a year after Apple's AppStore launched -- that Lexi-Comp's $299 app called Lexi-Complete was one of the highest revenue generating medical apps in the store. At the time it ranked at 156 out of 200 apps across all categories.
For more details, read the press release below.
Philadelphia, PA (April 27, 2011) - Wolters Kluwer Health, a leading provider of information and business intelligence for professionals, students and institutions in medicine, nursing, allied health and pharmacy, today announced that it has entered into an agreement to acquire Lexi-Comp, Inc., a leading global provider of drug information and clinical content for pharmacists and clinicians. The acquisition is the latest in a series of strategic acquisitions Wolters Kluwer Health has made in its Clinical Solutions business as part of the company's strong focus on serving the point-of-care segment.
"Wolters Kluwer Health has focused heavily on building a robust suite of clinical decision support solutions for point-of-care use by healthcare professionals, and our acquisition of Lexi-Comp is very much aligned with this strategy," said Arvind Subramanian, President & CEO, Wolters Kluwer Health Clinical Solutions. "Like Wolters Kluwer Health's Clinical Solutions businesses, Lexi-Comp is a leader in providing quality drug information and clinical content designed to help pharmacists and other healthcare professionals make informed and efficient clinical judgments and decisions to improve the quality of care they can provide for their patients. With this acquisition, over 500,000 pharmacists and clinicians in 149 countries will have access to Wolters Kluwer Health Clinical Solutions offerings. Following completion of the acquisition, our combined businesses will be well-positioned to provide a robust portfolio of clinical decision support solutions for professional customers across the healthcare continuum."
Lexi-Comp provides drug information and medical reference content to more than 1,500 hospitals internationally, and publishes drug monographs covering more than 1,700 products. Lexi-Comp's clinical information is available to pharmacists and other healthcare professionals online and on a variety of popular mobile devices, as well as through integrated health information systems. To support and supplement effective clinician-patient interactions, Lexi-Comp also provides patient medication leaflets in 19 languages. The company is headquartered near Cleveland, Ohio and has approximately 150 employees.
The two companies have a long-standing relationship through Wolters Kluwer Health's UpToDate business. UpToDate offers an electronic clinical information resource via the internet and mobile devices, with one of the world's largest online clinical information communities including more than 4,400 expert clinicians who function as authors, editors and peer reviewers and over 400,000 users who provide questions and feedback. UpToDate covers more than 8,500 topics in 17 medical specialty areas, with integrated Lexi-Comp drug information and clinical content offered through the UpToDate platform.
The acquisition of Lexi-Comp will enable Wolters Kluwer Health to further strengthen its leading position in the clinical decision support and point-of-care information segments and to provide customers with even more robust drug information and clinical content offerings for both hospital pharmacies and overall hospital enterprises. It will also enable pharmacist, physician and nurse customers to use an extended suite of mobile capabilities and online platforms, making access to critical medical information more convenient than ever before.
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 Lexi-Comp, visit www.lexi.com.
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 traditional publishers of medical and drug reference tools, journals and textbooks, such as Lippincott Williams & Wilkins; and electronic information providers, such as Ovid®, UpToDate®, Medi-Span®, Facts & Comparisons®, Pharmacy OneSource® and ProVation® Medical.
Wolters Kluwer Health is part of Wolters Kluwer, a market-leading global information services company. Wolters Kluwer has 2010 annual revenues of €3.6 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. 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.