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Kansas City, MO - June 14, 2006
Cerner to Acquire Galt Associates, Leader in Drug Safety and Risk Management Solutions
Cerner Corp. (NASDAQ: CERN) today announced its intent to acquire Galt Associates, Inc., a leading provider of safety and risk management solutions for pharmaceutical, medical device and biotechnology companies. The acquisition will augment Cerner's LifeSciences portfolio, adding innovative solutions and services that use medical event data to monitor and manage the safety and efficacy of various therapies.
"Cerner is dedicated to helping the healthcare industry dramatically reduce the delay between a drug's discovery and its safe delivery to patients," said Paul Gorup, senior vice president, Cerner Knowledge and Discovery. "The acquisition of Galt strengthens our ability to provide pharmaceutical companies with evidence-based surveillance of their drug's performance throughout its lifecycle."
Cerner's LifeSciences division serves the growing market need for software, data and services to help drug development companies bring safe products to market. Cerner developed the industry-leading HealthFactsTM solution, a data warehouse of more than 35 million clinical encounters, to aggregate confidential data to help draw meaningful relationships between pharmaceutical therapies and resulting clinical outcomes.
Galt's solutions take this data one step further, helping clients code, exchange and analyze adverse medical event data to more effectively comply with regulations. In addition to monitoring the safety of existing products, Galt works with clients to improve the development process for new products and measure the relative safety and efficacy profiles of competing products.
"Cerner and Galt have a common vision to improve the safety of patients by enabling the sharing of data and technologies across the medical and research communities," said Renee Lewis, Galt president and CEO. "The integration of these two companies will ensure that our collective clients receive the most comprehensive solution to improve safety and reduce risk throughout the entire pharmaceutical development, commercialization and administration process."
The acquisition is expected to be completed in the third quarter of 2006 and should not have a material impact on Cerner's 2006 financial results.
About Cerner
Cerner Corp. is taking the paper chart out of healthcare, eliminating error, variance and waste in the care process. With more than 1,500 clients worldwide, Cerner is the leading supplier of healthcare information technology. NASDAQ: CERN. www.cerner.com.
About Galt Associates, Inc.
With more than a decade of experience, Galt is an international leader in helping clients manage risk through information. Galt's evidence-based solutions integrate the recognized expertise of its medical and scientific personnel with innovative technologies to ensure timely answers to clients' critical questions. This integrated approach allows Galt to deliver medical risk management and communication strategies that address the benefits and risks associated with the full range of medical therapies and interventions. Galt supports more than 70 pharmaceutical, medical device and biotechnology companies, as well as contract research organizations (CRO) and research institutions located throughout the U.S. and Europe. www.drugsafety.com
This release contains forward-looking statements that involve a number of risks and uncertainties. It is important to note that the Company's performance, and actual results, financial condition or business could differ materially from those expressed in such forward-looking statements. The words "intent", "will", "expected" and "should" or the negative of these words, variations thereof or similar expressions are intended to identify such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the possibility of product-related liabilities; potential claims for system errors and warranties; the possibility of interruption at our data centers or client support facilities; our proprietary technology may be subjected to infringement claims or may be infringed upon; risks associated with our global operations; recruitment and retention of key personnel; risks related to third party suppliers; risks inherent with business acquisitions; changing political, economic and regulatory influences; government regulation; significant competition and market changes; variations in the our quarterly operating results; potential inconsistencies in our sales forecasts compared to actual sales; and, failure of the parties to achieve the intended benefits. Additional discussion of these and other factors affecting the Company's business is contained in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time.
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