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Boston, MA – July 6, 2006
Cerner Corp. Acquires Galt Associates
Boston Millennia Partners is pleased to highlight the acquisition of Galt Associates, Inc. by Cerner Corp. (NASDAQ: CERN). Galt is a leading provider of safety and risk management solutions for pharmaceutical, medical device and biotechnology companies. The acquisition will augment Cerner's life sciences portfolio, adding innovative solutions and services that use medical event data to monitor and manage the safety and efficacy of various therapies. Although the terms of the acquisition have not been publicly disclosed, this transaction represents an attractive return for Millennia investors.
“Galt was essentially a one product company when we were first introduced to the firm. Our investment enabled the company to broaden its offering of safety related products, build out its sales force, and grow the medical services business. Recently, Galt has begun to leverage its pharmaceutical expertise into the broader healthcare market,” said Robert W. Jevon, Partner at Boston Millennia Partners. “Merging with Cerner provides the healthcare experience, market expertise, and distribution leverage desired by Galt to assist in its expansion efforts as it continues to accelerate the growth of its current product and service offerings.”
“When Millennia invested in Galt, drug safety and efficacy monitoring was an area of strategic interest to us. We believed it would become a key aspect of all drug development processes,” stated Dana Callow, Managing Partner, Boston Millennia Partners. “Cerner’s acquisition of Galt confirms our perspective of the importance of this functionality. We recognize the contribution made by all members of the Galt team in creating Galt’s success as well as my Partner, Rob Jevon, for promoting and successfully managing our investment in Galt.”
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.
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