PHILADELPHIA, December 5, 2011 /PRNewswire/ --
Acquisition Gives Wolters Kluwer Health Strong Foothold in Open Access Publishing Business
Wolters Kluwer Health today announced that it has acquired Medknow PVT Ltd., a leading Scientific, Technical & Medical (STM) journal publishing operation headquartered in Mumbai, India and one of the largest open access publishers in the world. The acquisition expands Wolters Kluwer Health's Medical Research business' presence in key developing markets and supports its strategy to increase locally written content and incorporate more open access platforms into its business model. Terms of the deal were not disclosed.
"Research is changing in the developing world with clinicians and researchers looking for more access to locally-written content that is peer-reviewed and accessible via open platforms," said Karen Abramson, President & CEO, Wolters Kluwer Health, Medical Research. "Our acquisition of Medknow aligns with our strategy of continuing to invest in providing the latest, most trusted information to our customers around the world to help them fuel discoveries and enhance patient care."
Founded in 1977, Medknow has a strong portfolio of more than 155 journals and offers much of its content electronically. The company has strong market share among journals published in India and also has a growing presence in Asia Pacific and the MEA region. In addition to its print and electronic journal content, the company provides an electronic peer-review system for authors and editors, ensuring high quality clinical research. The deal will enable Wolters Kluwer Health to accelerate advances in the open access arena. It also furthers the company's growth strategy of continued investment in international expansion in key emerging markets across the globe.
For Wolters Kluwer Health customers, the deal means expanded access to medical content in more markets around the world. Medknow's journals will join an extensive portfolio of nearly 300 practitioner journals, including those which are published by Wolters Kluwer Health's Lippincott Williams & Wilkins brand and additional journals made available through our society partnerships. There will also be opportunities via Wolters Kluwer Health's Ovid brand, which is the online source for the latest electronic research information used by the world's leading universities, academic research libraries, hospitals and pharmaceutical companies, among others.
About Wolters Kluwer Health
Wolters Kluwer Health (Philadelphia, PA) is a leading provider of information and business intelligence for students, professionals and institutions in medicine, nursing, allied health and pharmacy. Major brands include traditional publishers of medical and drug reference tools and textbooks, such as Lippincott Williams & Wilkins and Facts & Comparisons®; and electronic information providers, such as Ovid®, UpToDate®, Medi-Span®, Pharmacy OneSource and ProVation® Medical.
Wolters Kluwer Health is part of Wolters Kluwer, a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer's leading, information-enabled tools and solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world.
Wolters Kluwer has 2010 annual revenues of euro 3.6 billion ($4.7 billion), employs approximately 19,300 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
This press release 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.
SOURCE Wolters Kluwer Health