EMIS Group PLC Disposal of Specialist & Care business (8027U)
02 April 2019 - 5:01PM
UK Regulatory
TIDMEMIS
RNS Number : 8027U
EMIS Group PLC
02 April 2019
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 GBP14.9m, made
up of GBP14.0m paid on completion (inclusive of GBP5.0m of
intercompany debtor balances settled in cash by EMIS Group on
completion) and GBP0.9m 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 GBP20.4m of revenue, an adjusted operating profit of
GBP1.1m (5.5% margin) and closing net assets (excluding
intercompany balances) of GBP8.0m.
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
www.emisgroupplc.com
@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.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
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