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Ideagen acquires Medforce Technologies for $8.7m

By BFN News | 07:59 AM | Friday 06 April, 2018


Ideagen, a leading supplier of Information Management software, said Friday it acquired US based Medforce Technologies for $8.7m in cash. The acquisition of healthcare software company, Medforce, is expected to enhance the group's geographic customer footprint, providing an additional source of recurring revenue. This was the first acquisition of a US company as the firm seeks to build on its strong growth in the US which generated over 50% of all new logo wins and 70% of all new SaaS wins in the first half of the current financial year. David Hornsby, CEO of Ideagen, said: 'Medforce is a valuable addition to the Group and is in line with our strategy of acquiring business that have valuable IP and strong recurring revenues. Medforce has established an extremely compelling value proposition and brings to the Group a complementary solution offering, a talented workforce and long-term customer relationships which further strengthens our position in the US Healthcare market.' Story provided by StockMarketWire.com

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