Cerner Corporation Announces Sale of a Portion of WebMD Stock; Anticipates Non-recurring Items Related to Sale and ADAC Acquisition
BUSINESS WIRE - December 29, 2000 15:08
KANSAS CITY, Mo., Dec 29, 2000 (BW HealthWire) -- Cerner Corporation (NASDAQ: CERN)
Company Will Report Fourth-Quarter and Year-End Results
on January 31, 2001
Cerner Corporation (NASDAQ: CERN), the world's leading clinical healthcare information technology company, today announced that it sold 4.27 million shares of WebMD (NASDAQ: HLTH) for $25.6 million during December 2000.
The shares were principally acquired in a license transaction in December 1998, at which time they were valued at approximately $4.30 per share. In the third quarter of 2000, Cerner recognized a non-recurring $120.4 million gain (net of tax) on 17.1 million shares of WebMD stock as a result of the exchange of CareInsite shares for WebMD shares based on the $15 per share stock price on the date of the merger of CareInsite and WebMD. As a result of the sale of 4.27 million shares at a price less than $15 per share, Cerner will recognize a non-recurring investment loss of $24.5 million (net of tax) in the fourth quarter.
As previously announced, Cerner completed the acquisition of ADAC Healthcare Information Systems during the fourth quarter of 2000. As a result of the acquisition, the Company expects to record a non-recurring charge of approximately $1 million (net of tax) due to the write off of purchased in-process research and development in the fourth quarter.
Cerner also announced it will report its fourth-quarter and year-end 2000 results at 3:00 p.m. CST on Wednesday, January 31st.
Cerner will host an analyst conference call at 3:30 p.m. CDT on Wednesday, January 31, 2001. The call will be web cast and will be available both live and archived on Cerner's web site at www.cerner.com. Please access the site fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, replays will be made available shortly after the call and will run for two weeks.
Cerner Corporation (Nasdaq: CERN, www.cerner.com) is the leading supplier of clinical and management information and knowledge systems to more than 1,400 healthcare organizations worldwide. Cerner's mission is to connect the appropriate persons, knowledge, and resources at the appropriate time and location to achieve the optimal health outcome. The company's vision is to improve the health of communities through innovation and investments in information technology. Cerner strives to transform the healthcare delivery system by increasing the quality of care, improving efficiencies, eliminating medical error and connecting the individual to the system with innovative information solutions. HNA Millennium is Cerner's comprehensive suite of solutions that promote personal and community health management by connecting consumers, clinicians and healthcare organizations into a streamlined, unified single care process. HNA Millennium applications work on a cohesive platform that is open, intelligent and scalable, allowing vital health information to be accessed and shared throughout the healthcare system. Cerner...we make healthcare smarter. The following are registered trademarks of Cerner: Cerner, Cerner's logo and HNA Millennium. |
