Strong finish for confident EMIS
HEALTHCARE software provider EMIS Group, which bought Ascribe in a £57.5m cash and shares deal towards the end of last year, said today it finished 2013 in a strong position and is looking to the year ahead with confidence.
Updating the market this morning for the year ended December 31, the Leeds-based group said 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.
EMIS also said it has continued to gain market share in each division during the period.
The integration of both Ascribe and Digital Healthcare, acquired respectively on September 16 and August 5, is progressing well, the group said.
“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 while a number of positive responses have also been received relating to governmental technology funding,” said EMIS.
“Digital Healthcare is progressing with the roll-out of upgraded diabetic retinopathy software to comply with the requirements of Public Health England.”
EMIS Group reported a strong balance sheet with net debt of £13.5m at December 31, having spent £57.5m on acquisitions during the year, part funded by a placing that raised £26.3m and a new £32m debt facility with Yorkshire Bank.
Chris Spencer, chief executive 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 December 20, 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.”
The group intends to release its final results on March 20.
