Bright prospects for healthcare software group amidst changing market
Healthcare software systems provider, EMIS Group, has reported a strong set of figures as it publishes its preliminary results for the year ended 31 December 2022.
Total revenues were up 4% to £175.4m (2021: £168.2m) with pre-tax profits rising to £38.9m (2021: £36.1m).
Adjusted operating profit for the Leeds-based group increased by 10% on the comparative period at £47.7m (2021: £43.5m), including a £1.7m contribution from acquisitions.
Andy Thorburn, chief executive officer, said: “It has been another year of good progress for EMIS Group. The business performed well, achieving positive results in a changing market and against the backdrop of agreeing and recommending an offer for the group, which remains subject to completion.
“EMIS remains well placed to deliver the systems that will enable the NHS to realise its ambition of better, faster and proactive preventative care for the UK population.
“Our technology roadmap remains closely aligned with NHS England strategy and our position on NHS Digital’s new Tech Innovation Framework demonstrates our ability to deliver the NHS’s integrated digital future.
“We are confident of our strategy, technology roadmap and ability to deliver consistent good performance over the medium term.”
During the year the group completed three bolt-on acquisitions for a total initial net cash consideration of £30.8m.
The company says all three of these acquisitions have made positive contributions to both its market proposition and business performance during the year.
EMIS forecasts that it should be able to deliver on full year expectations for 2023, noting that its strong balance sheet gives the group a platform to fulfil growth ambitions.
