"Conshohocken, Pa (September 4, 2008) - Wolters Kluwer Health, a leading provider of information and business intelligence for students, professionals and institutions in medicine, nursing, allied health, pharmacy and the pharmaceutical industry, today announced it intends to acquire UpToDate, the leading evidence-based electronic clinical information resource. This acquisition will strengthen Wolters Kluwer Health's portfolio in the growing point of care and electronic medical record markets by expanding its product and services offerings. Terms of the acquisition were not disclosed.
- UpToDate is expected to generate annualized projected revenue of $80 million in 2008.
- UpToDate has demonstrated consistent double-digit organic revenue growth over the last four years.
- UpToDate has approximately 250 employees and is headquartered in Waltham, Massachusetts with international sales offices in the Netherlands and Japan.
- UpToDate will be part of Wolters Kluwer Health creating opportunities not previously available.
- Transaction is expected to be completed in the fourth quarter of 2008 pending regulatory approval."