Trading Update

RNS Number : 1927Y

EMIS Group PLC

22 January 2014

 



Press Release                                                                                     22 January 2014

EMIS Group plc

("EMIS Group" or "the Group")

Trading Update for the year ended 31 December 2013

EMIS Group plc (AIM: EMIS.L), the UK leader in connected healthcare software and services, today announces a trading update for the year ended 31 December 2013.

Overview

Trading for the year was in line with the Board's expectations with continued organic growth in revenues and profits together with positive contributions from the two acquisitions completed during the second half of the year.  The Group has continued to gain market share in each division during the period.

Divisional review

In Primary and Community Care, the ongoing roll out of EMIS Web for GPs continues to proceed to plan. At the period end there were 3,327 live EMIS Web practices in England and Wales (representing 74% of EMIS's total GP estate in those countries) and an increase of 1,692 practices during the year.  The remaining 1,196 practices have all either placed an order or are in the EMIS Web familiarisation service. Progress is being made with the renewal of the English GP Systems of Choice (GPSoC) Framework which is due to be concluded by 31 March 2014.  

Within community, child and mental health, bid activity has increased and the Group has secured new contracts in Bromley, Glasgow, and East London Urgent Care Centre in the latter part of the year. 

In Community Pharmacy, the Group's estate continued to grow and preparations were made for the formal launch of new functionality linking community pharmacies and GPs which was successfully piloted in 2013.  Detailed plans have also been approved for the development of the next generation of community pharmacy software which will also further enhance this integrated approach.

In Secondary and Specialist Care, the integration of both Ascribe and Digital Healthcare (acquired respectively on 16 September and 5 August) is progressing well.

Since acquisition, Ascribe has secured several significant contracts to supply clinical IT solutions to major healthcare NHS trusts, including Doncaster and Bassetlaw Hospitals NHS Foundation Trust and the South Devon Healthcare NHS Foundation Trust.  A number of positive responses have also been received relating to governmental technology funding.

Digital Healthcare is progressing with the roll-out of upgraded diabetic retinopathy software to comply with the requirements of Public Health England.       

Financial Position

EMIS Group retains a strong balance sheet with net debt of £13.5 million at 31 December 2013 (31 December 2012: net cash of £7.7 million), having spent £57.5 million on acquisitions during the year, part funded by a placing that raised £26.3 million and a new £32.0 million debt facility with Yorkshire Bank.

Notice of final results

The Group intends to release its final results for the financial year ended 31 December 2013 on Thursday 20 March 2014. 

Chris Spencer, Chief Executive Officer of EMIS Group, said:

"EMIS Group finished 2013 strongly and continues to trade in line with the Board's expectations as we enter the new financial year. The integration of both Ascribe and Digital Healthcare is going well and our ability to offer clinicians a truly joined up approach to healthcare continues to strengthen as a result.  The ongoing roll out of EMIS Web is proceeding as planned while, within community, child and mental health, we are encouraged by the level of increased bid activity we have seen.  In summary, we are confident of making further progress in 2014.

"The NHS England Planning Guidance, "Everyone Counts", published on 20 December 2013, once again stresses the need for the NHS to harness technology and to deliver better care through the digital revolution.  Especially since our expansion into secondary care, EMIS Group is uniquely placed to help clinicians and patients work together for better health outcomes."

There will be a conference call for analysts at 08.30 this morning. Please contact Giles Robinson at MHP Communications on 0203 128 8788, [e-mail], for details.

For further information, contact:

EMIS Group plc                                                            Tel: [phone]

Chris Spencer, CEO

Peter Southby, CFO

www.emis-online.com 

Numis Securities Limited                                             Tel: [phone]

Michael Meade/Simon Willis/James Black

MHP Communications                                           

Reg Hoare/James White/Giles Robinson                          Tel: [phone]

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. Through integration and interoperability, EMIS Group helps clinicians share vital information, facilitating better, more efficient healthcare and supporting longer and healthier lives.

EMIS Group serves the following healthcare settings:

·      Primary and Community Care, under the EMIS brand, the UK leader in clinical IT systems for GPs and commissioners. EMIS Group 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. EMIS's patient.co.uk website is the UK's leading independent provider of patient-centric medical and well-being information and related transactional services.

·      Community Pharmacy, under the Rx Systems brand, the UK's single most used integrated community pharmacy and retail system. 

·      Secondary and Specialist Care, under the Ascribe and Digital Healthcare brands. Ascribe is a leading software provider to over 70% of the UK's NHS acute market, focused primarily on Hospital Pharmacy, A&E (holding over 30 million patient records), Mental Health and Patient Administration Systems.  Digital Healthcare is England's leading provider of diabetic retinopathy screening and other ophthalmology-related solutions.

These markets are also supported, under the Egton brand, by the provision of specialist ICT infrastructure, software, hardware and engineering services.

 

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