Wolters Kluwer acquires US-based startup NurseTim to enhance portfolio of nursing education solutions
Wolters Kluwer is on an acquisition spree. As we reported last week, The Netherlands-based company started the year with the acquisition of London-based tech startup Della AI to shore up its Legal & Regulatory software unit.
Today, Wolters Kluwer Health announced it has acquired NurseTim, a US-based EdTech startup that provides nursing education solutions. The total amount of the deal was not disclosed. In an email to TechStartups, Wolters Kluwer said it has signed and completed an agreement to acquire the t0-year-old NurseTim to enhance its portfolio of nursing education solutions.
As part of the acquisition agreement, NurseTim will become part of Wolters Kluwer’s Health Learning, Research & Practice (HLRP) business, which includes nursing education and practice solutions that help ensure students are ready for practice and nurses are prepared to deliver better patient care and outcomes.
Founded in 2008, the Minneapolis MN-based NurseTim organizes interactive student and faculty development workshops, conferences, webinars, and consultations for the nursing sector. The company currently employs 48 professionals.
Wolters Kluwer said that it expects the investment to deliver a return on invested capital (ROIC) above its weighted average cost of capital (8%) within 3-5 years and expects the transaction to have an immaterial impact on adjusted earnings.
NurseTim’s NurseThink provides a set of test preparation tools for faculty and students to prepare candidates for the Next Generation National Council Licensure Examination (NCLEX) in the U.S. In addition, the company provides hands-on nurse faculty training through conferences and webinars.
“Combining our nursing education portfolio and NurseTim will create a comprehensive suite of solutions that generates greater value for our customers,” commented Julie Stegman, Vice President of the Health LRP Nursing Segment at Wolters Kluwer. “NurseTim’s focus on faculty preparation and nurse clinical judgment training aligns well with our existing focus on ensuring nurses are clinically competent and prepared to practice.”
“For over 15 years, NurseTim has been known as a leader in innovation in nursing education and practice readiness. Through the creation of strategies and tools that are accessible to faculty and students, NurseTim is ushering the industry into a new era. We are excited by Wolters Kluwer’s proven success with its Lippincott solutions and positive impact on the profession. This track record and our shared commitment to nursing program outcomes and student success make it a good fit for the next phase of growth for NurseTim,” commented Tim Bristol, CEO, NurseTim Inc.
Founded in 1836 and headquartered in Alphen aan den Rijn, the Netherlands, Wolters Kluwer is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk, and compliance; and legal and regulatory sectors.
Wolters Kluwer enables customers to make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. The company serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,000 people worldwide. Wolters Kluwer reported 2021 annual revenues of €4.8 billion.