Cerner Finalizes Acquisition of Kantar Health
Cerner Corporation (NASDAQ: CERN) has announced the acquisition of Kantar Health for $375 million in cash. This acquisition aims to merge Kantar's expertise in life sciences with Cerner's comprehensive real-world data (RWD) to enhance life sciences research and patient outcomes. The integration is expected to expedite the clinical trial process. The Kantar Health team will join Cerner's Strategic Growth business, and its head, Lynnette Cooke, will continue leadership. This acquisition positions Cerner to foster stronger collaborations and generate valuable health insights.
- Acquisition of Kantar Health for $375 million enhances Cerner's capabilities in life sciences.
- Integration expected to speed up clinical trials and improve patient outcomes.
- Strengthens collaboration with life sciences companies, potentially leading to increased revenue.
- Access to Kantar's expertise may enhance Cerner's real-world evidence offerings.
- Integration challenges may arise from merging two distinct corporate cultures.
- Operational risks associated with the acquisition during the ongoing COVID-19 pandemic.
- Potential difficulties in realizing the expected synergies from the acquisition.
Pairing data and research expertise to revolutionize the discovery, development and commercialization of life sciences innovations
KANSAS CITY, Mo., April 01, 2021 (GLOBE NEWSWIRE) -- Cerner Corporation (NASDAQ: CERN), a global healthcare technology company, today announced the acquisition of Kantar Health, a division of Kantar Group, for
“The promise of real-world evidence to power drug discovery is right in front of us,” said Donald Trigg, president, Cerner. “Kantar Health is an important next step in building out the capabilities our growing network of provider clients need to fundamentally change the time and cost for clinical trials.”
The highly experienced teams at Kantar Health bring deep understanding of the needs of the pharmaceutical and life sciences industry. Their research and consulting solutions, complemented by Cerner’s RWD, position Cerner to help life sciences companies and research organizations with all aspects of the therapeutic lifecycle.
The growing Cerner Learning Health NetworkSM client consortium, which today represents 92 million patients and 776 million clinical encounters, will be able to engage more with life sciences companies for funded research studies. A stronger collaboration between providers and the pharmaceutical industry is enabled through this acquisition. It will help researchers generate more health insights and use differentiated RWD assets and expertise to address the most complex clinical research questions.
As a result of the transaction closing, the Kantar Health team located around the world is joining Cerner and will be integrated within its Strategic Growth business. This includes Kantar Health’s research and consulting solutions and global clients. Lynnette Cooke, head of Kantar Health, will continue to lead the team and join the Cerner leadership.
“Kantar Health and Cerner’s Strategic Growth business have a great deal in common, starting with a vision to advance patient care around the world. Culturally, we share the same values when it comes to how we develop our people, our offer and our client base. I’m excited to continue leading the team as we integrate with Cerner,” said Cooke. “I have great admiration for Cerner’s health technologies and am inspired by their strategic vision for future growth. Our collective capabilities and assets will enable the acceleration of innovation and elevate our expertise in addressing the most complex clinical research questions changing the way healthcare is developed and delivered.”
About Cerner
Cerner’s health technologies connect people and information systems at thousands of contracted provider facilities worldwide dedicated to creating smarter and better care for individuals and communities. Recognized globally for innovation, Cerner assists clinicians in making care decisions and assists organizations in managing the health of their populations. The company also offers an integrated clinical and financial system to help manage day-to-day revenue functions, as well as a wide range of services to support clinical, financial and operational needs, focused on people. For more information, visit Cerner.com, The Cerner Blog or connect on Facebook, Instagram, LinkedIn, Twitter or The Cerner Podcast. Nasdaq: CERN. Health care is too important to stay the same.
Contacts:
Cerner Investor Contact: Allan Kells, (816) 201-2445, akells@cerner.com
Cerner Media Contact: Stephanie Greenwood, stephanie.greenwood@cerner.com
Kantar Media Contact: Ed Gemmell, ed.gemmell@Kantar.com
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements. These forward-looking statements are based on the current beliefs, expectations and assumptions of Cerner's management with respect to future events and are subject to a number of significant risks and uncertainties. It is important to note that Cerner's performance, and actual results, financial condition or business could differ materially from those expressed in such forward-looking statements. The words “expected” and “position”, or the negative of these words, variations thereof or similar expressions are intended to identify such forward-looking statements. For example, our forward-looking statements include statements regarding the future benefits or synergies of the transaction. Factors that could cause or contribute to such differences include, but are not limited to: risks inherent with business acquisitions and integrations, such as difficulties and operational and financial risks associated with integrating Cerner and the acquired business generally and during the COVID-19 pandemic; the occurrence of any event, change or other circumstances that could make closing in a specific country impracticable; risks related to disruption of management time from ongoing business operations due to the transaction and integration; failure to realize the synergies, market opportunities and other benefits expected from the transaction; risk that the assets and business acquired may not continue to be commercially successful; the ability of Cerner and Kantar Health to retain customers and key personnel and to maintain relationships with key suppliers of the acquired business; unexpected costs, charges or expenses resulting from the transaction or the integration; litigation or claims relating to the transaction or the acquired assets and business; and the extent to which the COVID-19 pandemic and measures taken in response thereto could adversely affect the business acquired and the assumptions management has used in its evaluation of the transaction. Additional discussion of these and other risks, uncertainties and factors affecting Cerner's business is contained in Cerner's filings with the Securities and Exchange Commission. The reader should not place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made. Except as required by law, Cerner undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in our business, results of operations or financial condition over time.
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