Cerner To Buy Siemens Health IT Business For $1.3 Billion
August 05, 2014
Cerner the provider of electronic health records run by billionaire Neal Patterson, is purchasing the health care information technology business of German industrial conglomerate Siemens for $1.3 billion.
The deal, which values the Siemens business at slightly more than one times sales, will increase Cerner’s annual revenue from about $3 billion last year to more than $4.5 billion of annual revenue this year. The combined company will have 20,000 associates in more than 30 countries, and 18,000 facilities that will be clients.
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