Investment in the Delivery of Effective Care to Help Improve Quality, Curb Costs
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FOR IMMEDIATE RELEASE Hearst Corporation Acquires Milliman Care Guidelines, LLC RE: Investment in the delivery of effective care to help improve quality, curb costs NEW YORK & SEATTLE, Nov. 5, 2012 — Hearst Corporation today signed an agreement with Milliman, Inc. pursuant to which Hearst will acquire Milliman Care Guidelines LLC, a leading provider of evidence-based clinical healthcare guidelines. The announcement was made by Frank A. Bennack, Jr., CEO of Hearst Corporation, and Richard P. Malloch, president of Hearst Business Media. Terms of the acquisition were not disclosed. The transaction is expected to close in Q4 following receipt of necessary government approvals. Used by more than 2,200 healthcare plans and health systems, Milliman Care Guidelines provides globally sourced, clinically validated guidelines and software to support the care management of most Americans. The company is the latest addition to Hearst’s expanding healthcare capabilities, which include Zynx Health and FDB (First Databank) — leaders in providing clinical decision support that helps providers plan and manage day-to-day patient care. Milliman Care Guidelines strengthens Hearst’s ability to provide critical, time-sensitive information to the healthcare industry. With a staff of 200, including 44 medical doctors and registered nurses, Milliman Care Guidelines compiles independent research on effective healthcare, citing more than 13,500 unique references as of 2012. Its Indicia™ product line for providers supports utilization review, case management, and care coordination, while its Cite™ product line for payors supports auto authorization, health management, and utilization management. The acquisition gives Milliman Care Guidelines a broader distribution channel for its products as well as access to Hearst’s rich information resources and expertise, which will help further strengthen the quality of its guidelines. “We’re excited about the impact this will have on patients in the United States and worldwide,” said Jonathan Shreve, CEO of Milliman Care Guidelines. “We’ve worked hard to help healthcare providers and health plans deliver effective care that demonstrably improves patient outcomes. This new partnership with the great people at Zynx Health, FDB, and Hearst will help us take another significant step in helping to improve patient health while curbing costs.” “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,” said Frank A. Bennack, Jr., CEO of Hearst Corporation. “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.” PR.11/12 Page 1 of 2 RE: HEARST CORPORATION ACQUIRES MILLIMAN CARE GUIDELINES, LLC INVESTMENT IN THE DELIVERY OF EFFECTIVE CARE TO HELP IMPROVE QUALITY, CURB COSTS About Milliman Care Guidelines Milliman Care Guidelines independently develops and produces evidence-based clinical guidelines and software used by more than 2,200 clients, including 1,200 hospitals and seven of the eight largest U.S. health plans. Updated annually by an experienced team of clinicians, the care guidelines support the care management of a majority of Americans. For more information, visit www.careguidelines.com. About Hearst Corporation Celebrating its 125th anniversary, Hearst Corporation (www.hearst.com) is one of the nation’s largest diversified media and information companies. Its major interests include ownership of 15 daily and 36 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in the automotive, electronics and medical/pharmaceutical industries; a 50 percent stake in the global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate. Follow us on Twitter @HearstCorp. Media Contact Pam McCoy Milliman Care Guidelines Tel +1 206 389 5405 [email protected] www.careguidelines.com PR.11/12 Page 2 of 2 .