Cerner Corp has completed its acquisition of Siemens Health Services’ assets, client relationships and associates, according to a company news release.¬†The purchase price for the acquisition was $1.3 billion plus working capital adjustments.

Cerner and the former Siemens business unit have a combined annual research and development investment of more than $650 million. The cumulative resources are expected to speed delivery of the company’s next generation of health IT solutions, enabling clients to control costs and improve health care outcomes in their communities.

John Glaser, the former CEO of Siemens Health Services, has joined Cerner as a senior vice president and member of the company’s executive cabinet. Glaser will support former Siemens Health Services clients as they transition to Cerner.

Support for Siemens Health Services core platforms will remain in place. Current implementations will continue, and Cerner will support and advance the Soarian platform for at least the next decade. Cerner will work with all clients to support their short-term and long-term business needs.

Cerner expects revenue in 2015 to be approximately $4.8 billion to $5 billion, with a client base spanning more than 30 countries across more than 18,000 facilities.