Wolters Kluwer Health has signed an agreement to acquire Firecracker, an adaptive learning, assessment, and study-planning solution used by more than 20 percent of U.S. medical students.
Firecracker will become part of the Health Learning, Research & Practice group, which produces high quality medical education and practice content under the Lippincott imprint.
Founded in 2009, Firecracker uses a technology - and data-driven approach to improve medical student learning in preparation for high stakes exams, including the United States Medical Licensing Examination (USMLE). The platform, in which more than 85 million questions are answered annually, is powered by an adaptive algorithm that delivers personalized learning and remediation to ensure ongoing retention of content and preparedness for medical school finals and certification exams.
Firecracker has 16 employees and is headquartered in Boston, Massachusetts. Revenues are recurring in nature and derived from the U.S. market. Wolters Kluwer expects the acquisition to deliver a return on invested capital above its after tax weighted average cost of capital (8%) within three to five years of completion and to have an immaterial impact on adjusted earnings.
Completion of the transaction is subject to customary closing conditions.
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