Cerner to Acquire AbleVets Further Expanding Strategic and Technical Expertise in U.S. Federal Health Market
October 18 2019 - 9:00AM
Cerner Corporation (Nasdaq: CERN), a global health platform and
innovation company, announced today a definitive agreement to
acquire AbleVets—a strategic IT consulting and engineering firm—as
a wholly-owned subsidiary. The acquisition of the Washington, DC
area-based company will provide Cerner even greater scale and
technical expertise in designing and implementing modernization
solutions, particularly in the federal space. The companies expect
to complete the transaction in the fourth quarter.
“AbleVets has been a trusted partner to Cerner and is providing
critical support to our federal programs,” said Travis Dalton,
president, Cerner Government Services. “Integrating the team into
our business is a natural next step of our relationship. We expect
AbleVets’ technical expertise and execution in solving complex
problems will accelerate Cerner’s success in providing integrated,
seamless care for Veterans, Service members and their
families.”
AbleVets was founded as a Service-Disabled Veteran-Owned Small
Business and focuses on the unique missions of federal health
clients. AbleVets brings 350 professionals—many of whom are
Veterans—specialized in cybersecurity, agile engineering, analytics
and technology enablement to Cerner. These professionals have deep
experience in delivering value to federal health clients, while
reducing the time, cost and risk associated with IT modernization
efforts.
“I launched AbleVets to deliver health IT solutions that improve
Veteran health,” said Dr. Wyatt Smith, founder and CEO of AbleVets,
who served as an oncologist in the Navy. “By working with Cerner
over the past year, we’ve been able to make important strides in
laying the groundwork on our shared mission to transform care for
those who served our country. By combining AbleVets’ strategic and
technical expertise in the federal space with Cerner’s global
scale, technology and innovation, we can expand our collective
reach, accelerate developments and make the greatest impact on
improving outcomes across the care continuum. We’re excited to join
forces with Cerner and bring even more value and quality health
care to those who have served.”
Cerner brings a high caliber of talent to support our federal
clients. The company leverages internal expertise, innovative
partners and with the AbleVets acquisition, external talent to
fortify its implementation of the program.
“As Cerner continues to drive health care innovation, we
continue to seek top talent to enable our clients to deliver the
highest quality of care. Teaming up with health technology leaders
that bring specialized industry expertise and capabilities—like
AbleVets for the federal market—will further help us drive optimal
outcomes at an exceptional value for our clients and taxpayers.
This is a transformational program and Cerner is building for our
immediate needs while making decisions and investments to ensure we
have the right talent in place for long-term success,” said
Dalton.
About CernerCerner’s health technologies
connect people and information systems at more than 27,500
contracted provider facilities worldwide dedicated to creating
smarter and better care for individuals and communities. Recognized
globally for innovation, Cerner assists clinicians in making care
decisions and assists organizations in managing the health of their
populations. The company also offers an integrated clinical and
financial systems to help manage day-to-day revenue functions,
as well as a wide range of services to support clinical, financial
and operational needs, focused on people. For more information,
visit Cerner.com, The Cerner Blog, The Cerner Podcast or connect
on Facebook, Instagram, LinkedIn or Twitter. Nasdaq:
CERN. Smarter Care. Better Outcomes. Healthier
You.
All statements in this press release that do not directly and
exclusively relate to historical facts constitute forward-looking
statements. These forward-looking statements are based on the
current beliefs, expectations and assumptions of Cerner's
management with respect to future events and are subject to a
number of significant risks and uncertainties. It is
important to note that Cerner's performance, and actual results,
financial condition or business could differ materially from those
expressed in such forward-looking statements. The words “expects”
or the negative of these words, variations thereof or similar
expressions are intended to identify such forward-looking
statements. For example, our forward-looking statements include
statements regarding the expected benefits of the acquisition of
AbleVets. Factors that could cause or contribute to such
differences include, but are not limited to: the possibility of
significant costs and reputational harm related to product-related
liabilities; potential claims for system errors and warranties; the
possibility of interruption at our data centers or client support
facilities, or those of third parties with whom we have contracted
(such as public cloud providers), that could expose us to
significant costs and reputational harm; the possibility of
increased expenses, exposure to legal claims and regulatory actions
and reputational harm associated with a cyberattack or other breach
in our IT security or the IT security of third parties on which we
rely; our proprietary technology may be subject to claims for
infringement or misappropriation of intellectual property rights of
others, or may be infringed or misappropriated by others; potential
claims or other risks associated with relying on open source
software in our proprietary software solutions or
technology-enabled services; material adverse resolution of legal
proceedings or other claims; risks associated with the unexpected
loss or recruitment and retention of key personnel or the failure
to successfully develop and execute succession planning to assure
transitions of key associates and their knowledge, relationships
and expertise; risks associated with failure to timely or
effectively manage publicity related to harassment or
discrimination claims and legal proceedings if such claims are
raised against key personnel; risks related to our dependence on
strategic relationships and third party suppliers; risks inherent
with business acquisitions and combinations and the integration
thereof into our business or relating to disputes involving such
acquisitions or combinations; significant competition and our
ability to quickly respond to market changes, changing technologies
and evolving pricing and deployment methods and to bring
competitive new solutions, devices, features and services to market
in a timely fashion; managing growth in the new markets in which we
offer solutions, health care devices or services; long sales cycles
for our solutions and services; risks inherent in contracting with
government clients, including without limitation, complying with
strict compliance and disclosure obligations, navigating complex
procurement rules and processes and defending against bid protests;
changing political, economic, regulatory and judicial influences,
which could impact the purchasing practices and operations of our
clients and increase costs to deliver compliant solutions and
services; and non-compliance with laws, government regulation or
certain industry initiatives or failure to deliver solutions or
services that enable our clients to comply with laws or regulations
applicable to their businesses; Additional discussion of these and
other risks, uncertainties and factors affecting Cerner's business
is contained in Cerner's filings with the Securities and Exchange
Commission. The reader should not place undue reliance on
forward-looking statements, since the statements speak only as of
the date that they are made. Except as required by law, Cerner
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events, or changes in our business, results of
operations or financial condition over time.
Contacts:
Cerner Austin Cozzolino, Senior Communications
Partner, (816) 786-2154, Austin.Cozzolino@Cerner.com
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