Thomson Completes Solucient Acquisition
Propels Thomson Strategy to Deliver Information that
Organizations Need to Transform the U.S. Healthcare System
STAMFORD, Conn., Oct. 16 /PRNewswire-FirstCall/ -- The Thomson Corporation (NYSE: TOC; TSX: TOC), a leading provider of information to professional customers worldwide, today announced that it has completed the acquisition of Solucient, LLC, a healthcare information business. Terms of the deal were not disclosed. Thomson announced that it had entered into a definitive agreement to acquire Solucient on September 18, 2006.
Solucient provides data and advanced analytics that hospitals and health systems use to improve performance and lower costs. With Solucient, Thomson accelerates its plan to deliver integrated clinical and management decision support tools that create the most comprehensive view of the healthcare enterprise.
According to independent research firm EPS, the strategic acquisition "will place Thomson in a unique competitive position in the healthcare decision support market. ... The global healthcare market is well worth attention; growing at a rate of six percent a year and with increasing pressure to improve the quality and cost of healthcare, suggesting future growth opportunities. It is this driver that is fueling the market for decision support tools that help healthcare workers make better decisions faster."
Commenting on the acquisition, President and Chief Executive Officer of Thomson Scientific & Healthcare Robert Cullen said, "Those closest to this issue understand that the key to dramatically improving quality of care and addressing skyrocketing costs is information that can be shared, searched, measured and analyzed to determine which treatments and drugs are most effective and at what cost. Thomson is in the best position to deliver the type of information solutions that meet these needs and to help organizations work together to address the challenges facing our healthcare system."
Solucient will be combined with Medstat, an industry leader in providing healthcare work tools to organizations that pay for healthcare -- including employers, health plans, and government agencies. "Thomson will be the first to deliver the type of analytics and tools that help hospitals understand the meaning behind their combined financial, operational, and clinical data," Mr. Cullen added. "The unique insights that result from this analysis will help hospitals increase patient safety and satisfaction as well as improve their financial and regulatory position."
The Thomson Corporation
The Thomson Corporation (http://www.thomson.com ), with 2005 revenues of approximately $8.40 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate e-learning and assessment, scientific research and healthcare. With operational headquarters in Stamford, Conn., Thomson has approximately 40,500 employees and provides services in approximately 130 countries. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
About Solucient, LLC
Solucient is an information products company serving the healthcare industry. It is a leader in providing tools and vital insights that healthcare managers use to improve the performance of their organizations. By integrating, standardizing and enhancing healthcare information, Solucient provides comparative measurements of cost, quality and market performance. Solucient's expertise and proven solutions enable providers and pharmaceutical companies to drive business growth, manage costs and deliver high quality care. For more information, visit http://www.solucient.com .
This news release includes forward-looking statements which are based on certain assumptions and reflect The Thomson Corporation's current expectations. Forward-looking statements are those which are not historical facts and include the Corporation's expectations regarding the anticipated benefits of the acquisition. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations include risks related to the Corporation's ability to successfully integrate Solucient and achieve expected synergies and actions of the Corporation's competitors. Other risks and factors are discussed in the Corporation's materials filed with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission from time to time, including the Corporation's most recent annual information form, which is also contained in its annual report on Form 40-F for the year ended December 31, 2005. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Thomson Corporation
-0- 10/16/2006
/CONTACT: Kyle Christensen, Director, Communications, Thomson Healthcare,
+1-201-358-2219, kyle.christensen@thomson.com /
/Web site: http://www.thomson.com
http://www.solucient.com /
(TOC)
CO: Thomson Corporation; Solucient, LLC
ST: Connecticut
IN: CPR HEA
SU: TNM
TH
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0898 10/16/2006 09:28 EDT http://www.prnewswire.com