Cerner Acquires ADAC Healthcare Information Systems.Business Editors and Health/Medical Writers KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo.--(BW HealthWire)--Nov. 21, 2000 Cerner (Nasdaq:CERN CERN or European Organization for Nuclear Research, nuclear and particle physics research center straddling the French-Swiss border W of Geneva, Switzerland. ) is pleased to announce the completion of its previously announced acquisition of ADAC ADAC Allgemeiner Deutscher Automobil Club (German automobile club) ADAC Aboriginal Drug and Alcohol Council ADAC Art Directors and Artists Club (Sacramento, California) ADAC Alcohol and Drug Abuse Council Health Care Information Systems (HCIS HCIS Health Care Information System (British Library) HCIS Hwa Chong International School (Singapore) HCIS Homenet Computers Internet Services (Australia) ) from ADAC Laboratories for approximately $6 million in cash. ADAC HCIS produces information and image management solutions for radiology radiology, branch of medicine specializing in the use of X rays, gamma rays, radioactive isotopes, and other forms of radiation in the diagnosis and treatment of disease. departments. This acquisition is expected to be non-dilutive in 2001 and is expected to contribute positively to earnings in 2002. "There is significant synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. between ADAC HCIS and Cerner in terms of our cultures, shared architectures and commitment to radiology as one of the most vital diagnostic centers of healthcare," said Neal L. Patterson, Cerner chairman and chief executive officer. "This acquisition broadens our market presence and enhances our knowledge capital in radiology. These additional footprints within the radiology segment further Cerner's mission to make healthcare smarter, safer and more efficient." "In addition to the many clients of both ADAC HCIS and Cerner, we welcome more than 125 new clients to Cerner and believe they will benefit from our industry-leading client service, commitment to innovation and continued support for QuadRIS(TM) and MARS(TM)," said Patterson. "These clients represent some of the most prestigious and innovative healthcare organizations in America. Cerner will deliver the much-anticipated QuadRIS upgrade planned for spring 2001. While the functionality of QuadRIS and Cerner's world-class radiology solution, RadNet(R), will merge over time, Cerner will provide a smooth technology and financial upgrade path for these products." "Clinical imaging is a critical component of the electronic medical record and plays an increasing role in the diagnostic and therapeutic treatment of patients," said Patterson. "In fact, the marketplace for PACS (Picture ArChiving System) A storage and management system for high-resolution images. Typically pertaining to the medical field, images such as X-rays, MRIs and CAT scans require a greater amount of storage than other industries. (picture archiving and communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. ) image management solutions is growing at three times the rate of the radiology information systems A Radiology Information System (RIS) is used by radiology departments to store, manipulate and distribute patient radiological data and imagery. The system generally consists of patient tracking and scheduling, result reporting and image tracking capabilities. market. Cerner will integrate specific, proven ADAC HCIS PACS technology from the Envoi en·voi n. Variant of envoy2. Noun 1. envoi - a brief stanza concluding certain forms of poetry envoy stanza - a fixed number of lines of verse forming a unit of a poem (TM) suite of image management products into the HNA HNA Hereditary Neuralgic Amyotrophy HNA Hawaii Nurses Association HNA High North Alliance HNA Morioka, Japan - Hanamaki (Airport Code) HNA Hospice Nurses Association (now Hospice and Palliative Nurses Association) Millennium(R) platform to provide the most complete and integrated radiology offering in the world." "The experience, knowledge and client-service mentality men·tal·i·ty n. The sum of a person's intellectual capabilities or endowment. of the staff at ADAC HCIS complements Cerner's world-class team of radiology experts," said Trace Devanny, president of Cerner. "We will maintain an office in Houston for these new Cerner associates and look forward to merging our visions for transforming healthcare through product innovation in radiology." Cerner Corporation (Nasdaq:CERN) (www.cerner.com) is the leading supplier of clinical and management information and knowledge systems to more than 1,200 healthcare organizations worldwide. Cerner's mission is to connect the appropriate persons, knowledge, and resources at the appropriate time and location to achieve the optimal health outcome. The company's vision is to improve the health of communities through innovation and investments in information technology. Cerner strives to transform the healthcare delivery system by increasing the quality of care, improving efficiencies, eliminating medical error and connecting the individual to the system with innovative information solutions. HNA Millennium is Cerner's comprehensive suite of solutions that promote personal and community health management by connecting consumers, clinicians and healthcare organizations into a streamlined, unified single care process. HNA Millennium applications work on a cohesive cohesive, n the capability to cohere or stick together to form a mass. platform that is open, intelligent and scalable, allowing vital health information to be accessed and shared throughout the healthcare system. Cerner...we make healthcare smarter. The following are trademarks of Cerner Corporation: Cerner, HNA Millennium, RadNet, QuadRIS, Envoi and MARS. The name ADAC HCIS has been changed to Cerner Radiology Information Systems, Inc. This release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. It is important to note that the Company's performance, financial condition or business could differ materially from those expressed in such forward-looking statements. The words "will," "expect" and 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 inability to achieve expected synergies, the successful integration and market acceptance of the product technologies, variations in the Company's quarterly operating results, volatility of the Company's stock price, market risk of investments, changes in the healthcare industry, significant competition, the Company's proprietary technology may be subjected to infringement claims or may be infringed upon, regulation of the Company's software by the U.S. Food and Drug Administration or other government regulation, the possibility of product-related liabilities and possible failures or defects in the performance of the Company's software. 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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