Kronos announces additional details regarding pending acquisition of API Healthcare at HIMSS conference

Kronos IncorporatedFeb 22 2011

Kronos Incorporated today announced additional details regarding its pending acquisition of API Healthcare Corporation to organizations attending the HIMSS conference being held this week. The closing of the transaction is subject to regulatory approval and customary closing conditions.

Key Discussion Points

• Kronos^® is committed to avoiding any interruption in the level of service that API Healthcare hospital customers have come to expect and will therefore retain key API Healthcare employees and resources, including those engaged in service and support.
• Active API Healthcare implementations will continue post-closing, with no anticipated changes in timing, schedule, or contacts, and will be performed by the same API Healthcare employees operating out of existing API Healthcare offices.
• API Healthcare customers using the company's .NET platform who choose to expand their API Healthcare solution will have the continued ability to purchase additional licenses and add-on modules. Kronos has no plans to discontinue support of the platform.
• Kronos is excited at the prospect of offering its current healthcare customers a broader and deeper-integrated product suite, including API Healthcare's patient classification module.
• Upon closure of the transaction, Kronos intends to combine the best product capabilities from Kronos and API Healthcare to help healthcare organizations deliver high-quality patient care while maintaining tight control over their labor costs. Additional product roadmap details will be available once the transaction closes.
• Kronos is financially positioned to continue to invest in enhancing its healthcare products and services, which ultimately will benefit both API Healthcare and Kronos customers.

Supporting Quotes

• Aron Ain, chief executive officer, Kronos

"The human capital management market is highly competitive, with a spectrum of vendors offering solutions to help healthcare organizations control labor costs and improve patient care. We understand that healthcare customers have many choices in the marketplace and we will strive to exceed both API Healthcare and Kronos customer expectations."

• Jim Kizielewicz, senior vice president and chief marketing officer, Kronos

"The HIMSS conference provides the perfect opportunity to engage API Healthcare and Kronos customers in a discussion about Kronos' future plans regarding the acquisition. We encourage anyone who is interested in learning more about the proposed transaction to stop by our booth."