Cerner announced today the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, as amended, in connection with the company’s purchase of the assets of Siemens’ health information technology business unit, Siemens Health Services, for $1.3 billion in cash. The early termination of the HSR waiting period satisfies one of the conditions to the closing of the pending acquisition. The transaction remains subject to other customary closing conditions and is still expected to close in the first quarter of 2015.
In August, Cerner announced its plans to acquire Siemens Health Services as a way to advance industry innovation, combine complementary client bases and combine R&D investments. Based on 2014 estimates, Cerner and Siemens Health Services have combined totals of more than:
- 20,000 associates in more than 30 countries
- 18,000 client facilities, including some of the largest health care organizations in their respective countries
- $4.5 billion of annual revenue
- $650 million of annual R&D investment
“We’re pleased to have cleared this important regulatory hurdle and to be one step closer to integrating Siemens Health Services and its clients into the Cerner family,” said Dick Flanigan, Cerner senior vice president. “Our complementary client bases will span the globe in more than 30 countries, and include some of the largest health care organizations in the world.”
As part of the acquisition, Cerner and Siemens AG will create a strategic alliance and invest up to a combined $100 million to bring new solutions to market for the purpose of enhancing workflows and enhancing clinical outcomes. Early work on the alliance will build on Cerner’s strength in technology and Siemens’ expertise in imaging, to embed information from the electronic medical record inside advanced diagnostic and therapeutic technologies.
Cerner’s health information technologies connect people, information, and systems, at approximately 14,000 facilities worldwide. Recognized for innovation, Cerner solutions assist clinicians in making care decisions and enable organizations to manage the health of populations. The company provides clients with a wide range of in-house services, as well as an integrated clinical and financial system to help organizations manage revenue. Cerner’s mission is to contribute to the systemic improvement of health care delivery and the health of communities. Nasdaq: CERN. For more information about
Certain trademarks, service marks and logos set forth herein are property of Cerner Corporation and/or its subsidiaries. All other non-Cerner marks are the property of their respective owners.