Healthtech firm ‘navigating its way through some challenging conditions’
Healthtech and software business EMIS Group has undergone the majority of its planned restructure and is ‘navigating its way through some challenging conditions’ in the Acute Care sector.
Chief Executive Andy Thorburn joined the Leeds-based company three months ago and today spoke about the company’s six month results. Total revenue stands at £79.2m, up from £78.7 this time last year.
The company, listed on the AIM market with a value of £600m, has now undergone most of its planned restructure – which was caused by a decline in NHS spending. In total, this will see around 100 jobs cut in Primary Care, Child, Community & Mental Health (CCMH) and Secondary Care.
Thorburn said that he implemented some ‘fine tuning’ around some elements of the restructure when he joined but that the majority it had been executed as planned. He said that he was confident that with the strong management team at the company, EMIS Group would be making progress to strengthen its position in the future.
Thorburn said: “In the Acute Care sector of the business, we are experiencing a challenging period but most of that is being experienced right across the marketplace. Our discretionary spend will be much tighter but we are navigating through.”
He added that they were still working on smaller ongoing work with existing customers but there had been a drop in the large projects available in this sector of the market. Work to refresh the company’s technology, including the launch of a new website, has been a recent focus. The company had seen continued growth in recurring revenue, with profit progress held back by investment in future growth opportunities.
Thorburn added: “It has been a solid overall performance, especially given the challenging market conditions in parts of the business. We will continue to look after our customers and progress forward.”
EMIS has sites in Bolton, Cambridge, Hampshire, Sheffield, Southampton and Watford. It also has offices in Victoria, Australia.
