US-based health information company Cerner has completed the acquisition of Siemens Health Services’ (SHS) assets, client relationships and associates, for around $1.3bn in cash.
The deal was first announced in early August 2014.
The acquired business will expand Cerner’s annual research and development investment to around $650m and cumulative resources will enhance firm’s delivery of health IT solutions to its clients.
Cerner chairman CEO and co-founder Neal Patterson 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 health care.
"Cerner remains focused on key development areas including population health, physician experience, open platforms, revenue cycle and mobility."
SHS former CEO John Glaser has joined Cerner as a senior vice president and member of the company’s executive cabinet, and will help to drive policy, strategic initiatives and market innovations.
The former parent company of SHS Siemens has also collaborated with Cerner to bring new solutions to market.
Each organization intends to invest up to $50m during an initial three-year term, which will be used to integrate diagnostics and therapeutics into the electronic health record.
Cerner noted that it is expecting revenue up to $5bn in 2015, with a client base spanning in around 30 countries across more than 18,000 facilities.
Image: Cerner world headquarters in North Kansas City, Missouri. Photo: courtesy of Americasroof.