LONDON: EMIS Group plc, the UK leader in connected healthcare software and services, has announced that it has completed the disposal of its non-core Specialist & Care segment to Northgate Public Services (UK) Limited, the leading UK public sector software and services provider.
The total cash consideration for the disposal was £14.9 million, made up of £14.0 million paid on completion and £0.9 million 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 £20.4 million of revenue, an adjusted operating profit of £1.1 million and closing net assets of £8.0 million.
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.[the_ad id=”31605″]