Acquisition of Pinbellcom Group Limited

RNS Number : 9294S

EMIS Group PLC

14 July 2015

 

EMIS Group plc

("EMIS Group" or "the Group")

Acquisition of Pinbellcom Group Limited

The Board of EMIS Group, the UK leader in connected healthcare software and services, is pleased to announce the acquisition of Pinbellcom Group Limited ("Pinbellcom"), a leading supplier of administration and compliance software to both the primary and the secondary care markets, from its founders for £3.0m net of cash acquired. The acquisition is in line with the Group's strategy of providing connected healthcare IT for patients and those involved in their care.

Pinbellcom supplies a proven web based product suite designed to improve efficiency through communication and knowledge sharing within primary and secondary care. Pinbellcom's products include the multi award winning Intradoc247 providing GP practices, GP Federations and Clinical Commissioning Groups (CCGs) with a comprehensive intranet administration and compliance platform.

Pinbellcom was established in 2005, has 12 employees and operates from offices in Leeds. The business will be immediately integrated into Egton, the Group's Engineering, Hardware and Solutions division. Edward Bellamy, founder and director, will join Egton's management and become head of its pre-existing Web Services team. The other founders, Ian Pinder and David Coverdale, will be retiring with immediate effect.

The purchase consideration, net of cash acquired, amounts to £3.0m, payable in cash from the Group's existing resources.  For the year ended 31 March 2015 Pinbellcom's adjusted profit before tax was £0.4m with revenue of £1.2m, including strong recurring revenues. The acquisition is expected to be immediately earnings enhancing.

Chris Spencer, CEO of EMIS Group, said:

"This acquisition further enhances our product suite for primary and secondary care. These new products also support efficiency gains by providing a single point of access for all administration, process and management functions."

For further information, contact:

EMIS Group plc                                                                                Tel: [phone]

Chris Spencer, CEO

Peter Southby, CFO

www.emisgroupplc.com

Numis Securities Limited (Nominated Adviser & Broker)          Tel: [phone]

Adrian Trimmings/Simon Willis/James Black

MHP Communications                                                                     Tel: [phone]

Reg Hoare/Giles Robinson/Charlie Barker

Notes to Editors

EMIS Group is the UK leader in connected healthcare software and services. Its solutions are widely used across every major UK healthcare setting from primary and community care, to high street pharmacies, secondary care and specialist services. EMIS Group helps clinicians, in over 10,000 organisations, share vital information, facilitating better, more efficient healthcare and supporting longer and healthier lives.

EMIS Group serves the following healthcare markets under the EMIS Health brand:

•      Primary and Community Care, the UK leader in clinical IT systems for GPs and commissioners. EMIS Health products, including the flagship EMIS Web, hold over 40 million patient records and are used by nearly 6,000 healthcare organisations, including community-based teams.

•      Community Pharmacy, the UK's single most used integrated community pharmacy and retail system.

•      Secondary and Specialist Care, a leading software provider to 81% of the UK's NHS Acute Trusts and Boards, focused primarily on Hospital Pharmacy, A&E (holding over 30 million patient records), Mental Health and Patient Administration Systems as well as England's leading provider of diabetic eye screening and other ophthalmology-related solutions.

These markets are also supported by other EMIS Group businesses:

•      under the Patient brand, the UK's leading independent provider of patient-centric medical and well-being information and related transactional services

•      under the Egton brand, providing specialist ICT infrastructure, solutions, hardware and engineering services

•      under the EMIS Care brand, providing healthcare screening programmes such as diabetic eye screening

 

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