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Beijing and Rotterdam | 25 January 2011 - Global M&A Netherlands and China, also known locally as Solveigh, a top tier independent consultancy firm specialized in mergers and acquisitions, today announced that Wolters Kluwer has successful entered into a joined venture with China Drug Information Provider Medicom. The deal allows Wolters Kluwer to deliver clinical decision support to doctors in China as the country prepares for significant changes to its healthcare system and 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 and 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.
Ernst Jan Kruis, Managing Partner at Solveigh commented on the transaction, “The joint venture between Wolters Kluwer and Medicom is an excellent example of 2 partners committed and determined to work through all the issues that cross border deal making requires to make a transaction work. We have seen both parties spending relentless effort and time to build understanding and based on that create the best possible structure to further develop business in the market both parties are in. It has been a great pleasure to work on this project with a true team spirit that made us all work in a seamless way.”
Global M&A served as the exclusive advisor to Wolters Kluwer Health.
About Global M&A Netherlands & China
Global M&A is one of the world’s leading independent M&A advisory firms. Specialized in the middle market, we provide support and opportunities locally and internationally for clients buying or selling companies as well as financings, corporate restructurings and other corporate finance transactions. www.globalma.com
In the Netherlands, Global M&A team Solveigh is a leading, independent and specialized consultancy firm in Mergers & Acquisitions for cross border transactions. Founded in 1998 it has a highly experienced team of professionals focusing on selling midsized and larger companies, management buy outs and private equity funding and cross border corporate acquisitions for multinationals. www.solveigh.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 as Lippincott Williams & Wilkins; and electronic information providers, such as Ovid®, UpToDate®, Medi-Span®, Facts & Comparisons® and ProVation® Medical. www.wolterskluwer.com