Wolters Kluwer to Divest ComplyTrack
September 8, 2020 - Wolters Kluwer Legal & Regulatory announces that it has reached a binding agreement to sell ComplyTrack, a healthcare regulatory risk and compliance solution, tosymplr, a provider of cloud-based solutions for hospitals and other health facilities.
"Wolters Kluwer Legal & Regulatory U.S. has an ongoing strategy to focus on our digital information solutions and software tools for law firms, corporate law departments, and related compliance departments," said Dean Sonderegger, Senior Vice President and General Manager, Wolters Kluwer Legal & Regulatory U.S. "In that light, the ComplyTrack product line has limited strategic fit or synergies and this divestment will help us to further advance our strategy."
Rick Pleczko, President & CEO of symplr said, "The team and I are looking forward to bringing ComplyTrack into our portfolio-combining ComplyTrack's modular solution with our provider quality and patient safety SaaS platform creates a unique offering for our customers and the market."
The ComplyTrack business has about 50 full-time employees. The transaction is expected to close before the end of the year.
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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Forward-looking Statements and Other Important Legal Information
This report contains forward-looking statements. These statements may be identified by words such as "expect", "should", "could", "shall" and similar expressions. Wolters Kluwer cautions
that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer's businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Attachment
- 2020.09.08 Wolters Kluwer to Divest ComplyTrack (https://ml-eu.globenewswire.com/Resource/Download/cbd998ec-9123-44cd-a6f9-d1bdb4e3a08a)
