Cerner sells software products to German company for $248M
Posted on: Thursday, February 6, 2020 By: KorchekStaff
Cerner will sell a portion of its software products for about $248 million to CompuGroup Medical, a German healthcare software company, according to a Feb. 5 Kansas City Business Journal report.
The Kansas City, Mo.-based EHR vendor announced it formed an agreement to sell CompuGroup Medical its Medico and Selene software products, which are used in Germany and Spain. Medico is currently used by 251 hospitals in Germany and Selene is used by 65 hospitals in Spain.
The acquisition, which is expected to close in the third quarter of 2020, represents Cerner's focus on portfolio management, Cerner Global President Emil Peters said in the news release.
"While we refine our strategic focus and align around Cerner's core global assets, we believe clients transitioning to CompuGroup Medical will be in very good hands," Mr. Peters said.
The Cerner products pulled about $81 million in revenue for the company in 2019.