PHILADELPHIA, PA--(Marketwire - January 19, 2011) - Deal part of Wolters Kluwer Health's China growth strategy
Wolters Kluwer Health today announced a joint venture with leading China drug information provider Medicom to deliver clinical decision support to doctors in China as the country prepares for significant changes to its healthcare system. The deal allows Wolters Kluwer Health to expand its market-leading Clinical Decision Support (CDS) and drug information business into the rapidly growing China market and creates a needed drug information infrastructure in China.
"The clinical decision support market in China is at a critical juncture,
similar to what we saw in the U.S. market many years ago," said Arvind
Subramanian, President & CEO, Wolters Kluwer Health Clinical Solutions. "Our
agreement with Medicom gives Wolters Kluwer Health a strong entry point in China
and creates a solid foundation for us to introduce more advanced CDS products
and solutions that will give healthcare professionals in China unparalleled
access to evidence-based medicine for the advancement of healthcare."
Medicom, located in the city of Chengdu in the Sichuan Province, has a strong
footprint in the China healthcare market, providing drug information and
services. Its products and services are highly complementary to those of Wolters
Kluwer Health's Clinical Solutions business, which offers healthcare
professionals fast access to evidence-based medical information that helps
clinicians effectively manage patient care on a daily basis. The combined
offering creates a robust library of clinical content not previously available
in China that physicians can access at the point of learning as well as at the
point of care with patients.
The announcement comes as the Chinese government is focused on healthcare reform
to conform standards of care and an increasing number of doctors in China
prepare to pursue graduate school degrees.
"Our joint venture with Wolters Kluwer Health is a strategic fit for Medicom as
we continue to deliver on our mission of providing the most reliable and
accurate clinical and drug information for doctors, pharmacists and hospitals,"
said Lai Qi, CEO of Medicom. "This partnership will also provide Medicom access
to a more comprehensive set of products and services to support China's
healthcare reform initiatives of improving productivity and quality of care."
Wolters Kluwer Health's drug information products and services have been relied
on by pharmacists, hospitals, health insurers and physician offices in the US
for more than 60 years. Meanwhile, Medicom has created the most robust suite of
Chinese drug information products in use by hospitals in China.
As part of the agreement, Wolters Kluwer Health will have a controlling interest
in the joint venture. Terms of the deal were not disclosed. For more information
on Wolters Kluwer Health, visit www.wolterskluwerhealth.com.
About Wolters Kluwer Health
Wolters Kluwer Health (Philadelphia, PA) is a leading provider of information
and business intelligence for students, professionals and institutions in
medicine, nursing, allied health and pharmacy. Major brands include traditional
publishers of medical and drug reference tools, journals, and textbooks, such
asLippincott Williams & Wilkins; and electronic information providers, such as
Ovid®, UpToDate®, Medi-Span®, Facts & Comparisons® and ProVation® Medical.
Wolters Kluwer Health is part of Wolters Kluwer, 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 solutions to manage
their business efficiently, deliver results to their clients, and succeed in an
ever more dynamic world.
Wolters Kluwer has 2009 annual revenues of EUR3.4 billion ($4.8 billion), employs
approximately 19,300 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.
Visit our website, YouTube or follow @Wolters_Kluwer on Twitter for more
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Forward-looking Statements
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/1480563/416054.pdf
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Source: Wolters Kluwer NV via Thomson Reuters ONE
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