Cerner Spending $1.3 Billion for Siemens Health Tech Unit

Health technology and electronic health-record powerhouse Cerner Corp. is spending $1.3 billion to purchase Siemens Health Services, Siemens' health information technology business, Cerner announced Tuesday.

The combined company will have $4.5 billion in annual revenue and will invest $650 million annually in research and development, Kansas City, Mo.-based Cerner said. Its client base will include 18,000 facilities in the United States and Germany.

"We believe this is an all-win situation for the clients of both organizations, and all of our associates and shareholders," said Neal Patterson, Cerner CEO and co-founder.

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Source: Modern Healthcare