Disposal of Specialist & Care business
2 April 2019
EMIS Group plc
("EMIS Group" or "the Group")
Disposal of Specialist & Care business
EMIS Group plc (AIM: EMIS.L), the UK leader in connected healthcare software and services, today announces that it has completed the disposal of its non-core Specialist & Care segment (the "Disposal") to Northgate Public Services (UK) Limited, the leading UK public sector software and services provider.
The total cash consideration for the Disposal was £14.9m, made up of £14.0m paid on completion (inclusive of £5.0m of intercompany debtor balances settled in cash by EMIS Group on completion) and £0.9m of contingent consideration.
Specialist & Care is the leading provider of diabetic eye screening software and other ophthalmology-related solutions in England and Ireland. The Disposal consists of three businesses; Medical Imaging UK Ltd (England eye screening services), MIDRSS Ltd (Ireland eye screening services) and Digital Healthcare Ltd (eye screening software).
In the financial year ending 31 December 2018, Specialist & Care reported £20.4m of revenue, an adjusted operating profit of £1.1m (5.5% margin) and closing net assets (excluding intercompany balances) of £8.0m.
As previously indicated, the Specialist & Care segment was non-core to the Group's operations and future growth strategy as set out in November 2018. The proceeds of the disposal will be used for general corporate purposes, including investing in the main elements of EMIS Group's growth plans.
ENDS
Enquiries:
For further information, contact:
EMIS Group plc Tel: 0113 380 3000
Andy Thorburn, CEO
Peter Southby, CFO
@EMISGroup
Numis Securities Limited (Nominated Adviser & Broker) Tel: 020 7260 1000
Oliver Hardy/Simon Willis/James Black
MHP Communications Tel: 020 3128 8572
Reg Hoare/Giles Robinson/Patrick Hanrahan/Florence Mayo
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, community & acute care, to high street pharmacies. EMIS Group helps healthcare professionals 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, Community & Acute Care, as the UK leader in clinical management systems for healthcare providers and commissioners. EMIS Health products, including the flagship EMIS Web, hold over 40 million patient records and are used by more than 100,000 professionals in nearly 6,000 healthcare organisations.
• Community Pharmacy, with the UK's single most used integrated community pharmacy and retail system.
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 wellbeing information and related transactional services.
• under the Egton brand, providing specialist ICT infrastructure, hardware and engineering services, and non-clinical software into health and social care.
• under the Dovetail Lab brand, a health technology company developing blockchain software to facilitate the integration of healthcare data.
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