Wolters Kluwer Health announces Firecracker acquisition
Earlier this month, global information, services, and software, company Wolters Kluwer announced that its Health division would be acquiring Firecracker. The latter company describes itself as “an adaptive learning, assessment, and study-planning solution used by more than 20% of medical students.” Firecracker will become one element of Wolters Kluwer Health’s Health, Learning, Research & Practice group, which produces educational and practice content under its Lippincott imprint.
Wolters Kluwer’s share price is up by 28% over the last 12 months
SOURCE: Yahoo Finance
Diane Nole, CEO of Wolters Kluwer Health, made the following statement over the acquisition:
"We're excited to expand our portfolio of online evidence-based learning tools with Firecracker's proven technology. Combined with Lippincott premium content and solutions, Firecracker enhances our position in the medical education market and helps us further leverage machine learning and advanced technologies to help clinicians deliver the best quality care to patients."
Firecracker was founded in 2009, and uses a technology- and data-driven approach to maximize student learning for “high stakes exams”. These include the United States Medical Licensing Examination. More than 85 million questions are answered on its platform annually. The company states that this platform is “powered by an adaptive algorithm that delivers personalized learning and remediation to ensure ongoing retention of content and preparedness for medical school finals and certification exams.”
Wolters Kluwer said that the acquisition would have an immaterial impact on adjusted earnings, and that it expected Firecracker to deliver a return on invested capital within three to five years of completion.
Dominion holds Wolters Kluwer in its Global Trends Managed Fund.
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