August 06, 2014
Cerner Corporation and Siemens AG have announced a definitive agreement for Cerner to acquire the assets of Siemens' health information technology business unit, Siemens Health Services, for $1.3 billion in cash,. As part of the agreement, Cerner and Siemens will form a strategic alliance to bring new solutions to market that combine Cerner's health IT leadership and Siemens' strengths in medical devices and imaging. The acquisition is expected to close in the first quarter of 2015, subject to regulatory approval and other customary conditions.
Latham & Watkins LLP represents Cerner Corporation in the transaction with a cross-border team consisting of lawyers based in the United States, Germany, United Kingdom, Brussels and Spain, led by M&A partners Jim Beaubien and Bradley Helms and counsel David Wheeler in Los Angeles, and partner Harald Selzner in Dusseldorf, Germany. The M&A team in the US includes associates Caitlin Gibson, Milu Hoppenbrouwer, Jia Jia Huang and Aryeh Richmond in Los Angeles; and the European M&A team includes partner Ignacio Pallares in Madrid, counsel Joachim Grittmann and Thies Deike in Frankfurt, and these associates: Benedikt Vogt and Natalie Daghles in Dusseldorf; Stephan Kress in Frankfurt; Jana Dammann, Julia Heydel and Maximilian Menges in Hamburg; Marion Schuster in Munich; and Ignacio Dominguez in Madrid. Attorneys of the firm also advised on antitrust, benefits and compensation, employment, environmental, intellectual property, real estate, regulatory compliance, and tax law matters.