Cerner, the Kansas City-based electronic health record (EHR) vendor, has announced that it has officially completed its $1.3 billion acquisition of Siemens Health Services.
The deal, which was announced in August 2014, makes Cerner the top revenue-earning company among U.S. EHR vendors. Cerner says with the deal it will have 21,000 associates in more than 30 countries, 18,000 client facilities, including some of the largest health care organizations in their respective countries, $650 million of annual R&D investment, and a projected $4.8-$5 billion of annual revenue.
Each organization—Cerner and Siemens AG, the former parent company of Siemens Health Services—expects to invest up to $50 million during an initial three-year term. The early focus of the alliance, which combines Cerner’s health IT prowess with Siemens AG’s imaging and device knowledge, is on integrating diagnostics and therapeutics into the electronic health record, Cerner officials said.
By combining client bases, investments in R&D and associates, we are in a great position to lead clients through one of the most dynamic eras in healthcare,” Neal Patterson, Cerner chairman, CEO and co-founder, said in a statement. “Cerner remains focused on key development areas including population health, physician experience, open platforms, revenue cycle and mobility. We see these as critical areas of investment to ensure providers can meet growing regulatory demands and control costs, while continuing to improve quality of care.”
Get the latest information on Health IT and attend other valuable sessions at this two-day Summit providing healthcare leaders with educational content, insightful debate and dialogue on the future of healthcare and technology.