Cegedim: Business activities of US subsidiary sold
28 August 2019 - 4:30PM
Cegedim: Business activities of US subsidiary
sold
- Deal improves the Group’s financial position
- Pulse activities folded into a group with a solid presence in
North America
Disclaimer: This press release is available in French and
in English. In the event of any difference between the two
versions, the original French version takes precedence. This press
release may contain inside information. It was sent to Cegedim’s
authorized distributor on August 27, 2019, no earlier than 5:45 pm
Paris time. |
Boulogne-Billancourt, France, August 28, 2019, before
the market opening
Cegedim, an innovative
technology and services company, announces that it has sold
virtually all the business activities of its wholly owned
subsidiary, Pulse Systems Inc., to CareTracker Inc., an affiliate
of N. Harris.
Under the terms of the sale, Pulse’s software
solutions and services, RCM services, all customer contracts, a
portion of supplier contracts, and much of its personnel were
transferred to the buyer.
As part of a group with a solid foundation in
North America, Pulse will have all the resources it needs to
successfully pursue its development. The deal will allow Cegedim to
focus its efforts on Europe and the UK, and to improve its
financial position.
The divestment could result in asset impairment
of around €20 million. The Group will be in a position to disclose
more information when it announces its first-half results on
September 19.
In 2018 Pulse contributed €11.3 million to the
Group’s consolidated revenues and made negative contributions to
consolidated EBITDA and EBIT before special items. Pulse Systems
Inc. will be wound up in the coming months.
About Cegedim: Founded in 1969, Cegedim is an innovative technology
and services company in the field of digital data flow management
for healthcare ecosystems and B2B, and a business software
publisher for healthcare and insurance professionals. Cegedim
employs more than 4,500 people in more than 10 countries and
generated revenue of €468 million in 2018. Cegedim SA is listed in
Paris (EURONEXT: CGM). To learn more, please visit: www.cegedim.com
And follow Cegedim on Twitter: @CegedimGroup, LinkedIn and
Facebook. |
Aude
Balleydier Cegedim Media Relations and
Communications Manager Tel.: +33 (0)1 49 09 68 81
aude.balleydier@cegedim.com |
Jan Eryk
Umiastowski Cegedim Chief Investment
Officer and head of Investor Relations Tel.: +33 (0)1 49 09 33 36
janeryk.umiastowski@cegedim.com |
Agnès
Gilbert For Madis Phileo
Media Relations Tel: +33 (0)6 84 61 30 71
agnes.gilbert@madisphileo.com |
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