Wolters Kluwer to Acquire
Emmi
Extends Wolters Kluwer Clinical Solutions into
fast-growing patient engagement market
October 4, 2016 - Wolters
Kluwer Health announced today that it has signed an agreement to
acquire Emmi Solutions (Emmi), one of the leading U.S. providers of
patient engagement solutions, for $170 million in cash.
Founded in 2002, Emmi is a leading provider of
comprehensive and interactive patient engagement solutions
supporting healthcare providers and insurance carriers in
delivering effective healthcare. Patient engagement solutions
encourage patients to more actively participate in their
healthcare, thereby improving outcomes and potentially reducing
healthcare costs. Emmi's offerings are a natural extension to our
existing Clinical Solutions portfolio, in particular to UpToDate in
decision support and Lexicomp and Medi-Span in drug
information.
Emmi offers an enterprise-wide, integrated, and
multi-media patient engagement platform with high quality,
peer-reviewed content and personalized communications that span the
spectrum of care from prevention, to treatment, to patient
follow-up. The company's solutions are highly rated for ease
of integration with electronic medical records (EMR) systems,
technical capabilities, and overall user experience.
The U.S. market for patient engagement solutions
is expected to grow at a double-digit rate in coming years, driven
by the ongoing shift from a 'pay for service' to a 'pay for
outcome' reimbursement model. Emmi's revenues are expected to
reach approximately $29 million in 2016, driven by increasing
penetration and product innovation. Over 90% of revenues are
subscription-based and over 95% is derived from the U.S. market.
The acquisition is expected to deliver a return on invested capital
above Wolters Kluwer's after tax cost of capital (8%) in 3 to 5
years and is expected to be enhancing to adjusted earnings in the
first full year. Completion of the transaction is subject to
Hart-Scott-Rodino regulatory review and other customary closing
conditions.
"Healthcare systems are striving to deliver
consistent, safe, high-quality care while the economics of
healthcare are increasingly demanding value in healthcare delivery.
Patients who engage in their care have the potential to make better
decisions and achieve improved health outcomes. We are pleased to
add this state-of-the-art patient engagement product to our range
of clinical solutions. Combining Emmi's products with our UpToDate
and drug information offerings, we can now uniquely provide
healthcare systems and their patients a consistent, high quality,
evidence based solution that spans the entire continuum of care,"
said Diana Nole, CEO Wolters Kluwer Health.
About Wolters
Kluwer
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information
services and solutions for professionals in the health, tax and
accounting, risk and compliance, finance and legal sectors. We help
our customers make critical decisions every day by providing expert
solutions that combine deep domain knowledge with specialized
technology and services.
Wolters Kluwer reported 2015 annual revenues of
€4.2 billion. The company, headquartered in Alphen aan den Rijn,
the Netherlands, serves customers in over 180 countries, maintains
operations in over 40 countries and employs 19,000 people
worldwide.
Wolters Kluwer shares are listed on Euronext
Amsterdam (WKL) and are included in the AEX and Euronext 100
indices. Wolters Kluwer has a sponsored Level 1 American Depositary
Receipt program. The ADRs are traded on the over-the-counter market
in the U.S. (WTKWY).
Wolters Kluwer Health is a leading global provider
of information and point of care solutions for the healthcare
industry. For more information about our products and organization,
visit http://www.wolterskluwer.com/, follow @WKHealth or
@Wolters_Kluwer on Twitter, like us on Facebook, follow us on
LinkedIn, or follow WoltersKluwerComms on YouTube.
About Emmi
Emmi® delivers
interactive patient engagement solutions by combining an intimate
understanding of people with expertise in behavioral and
educational science. Emmi's integrated, web-based programs and
automated call campaigns, expertly designed through a rigorous
development process and a human-centered approach, provide a
scalable way for healthcare organizations to engage individuals to
be participants and partners in their care, while improving
operational and financial performance. Emmi creates empowered
people, improved relationships and healthier populations. For more
information, visit emmisolutions.com, or follow the company
on Twitter,LinkedIn, and Facebook.
Analysts/Investors
Contact:
Meg Geldens
Vice President, Investor Relations
Wolters Kluwer
+31 172 641 407
ir@wolterskluwer.com
Media Contacts:
Annemarije Pikaar
Senior Manager, External Communications
Wolters Kluwer Global Corporate Communications
+31 172 641 470
annemarije.pikaar@wolterskluwer.com
Cheri Palmer
Vice President, Communications
Clinical Effectiveness, Health
Tel: +1 781 392 2921
cheri.palmer@wolterskluwer.com
Forward-looking Statements and Other Important
Legal Information
This report 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.
Elements of this press release contain or may
contain inside information about Wolters Kluwer within the meaning
of Article 7(1) of the Market Abuse Regulation (596/2014/EU).
PDF version of Press
Release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Wolters Kluwer NV via Globenewswire
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