Hearst Corp., the New York-based media and information company, said it reached an agreement to acquire the care guidelines business of Milliman, a Seattle-based actuarial and consulting firm. Milliman's care-guidelines business provides evidence-based clinical healthcare databases.
Financial terms of the deal were not disclosed in a news release (PDF)
from the companies.
The care guidelines business will be part of Hearst's healthcare group, which includes Zynx Health and First Databank. The acquisition is expected to close in the fourth quarter of this year.
"The healthcare landscape is changing rapidly, and Milliman Care Guidelines is positioned to benefit greatly from a shift to accountable care organizations and continued reliance on clinical decision support," Hearst CEO Frank Bennack Jr. said in the release. "Given all the factors, this is an area that we think is not only a good business for Hearst but one that will also significantly benefit the public as healthcare changes and advances are made."
Milliman's care guidelines products are used in more than 1,200 hospitals, according to the release.