EANS-News: CompuGroup Medical enters the Dutch market
Koblenz (euro adhoc) -
Acquisition of Euroned
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Mergers - Acquisitions - Takeovers
Subtitle: Acquisition of Euroned
23 December 2010. CompuGroup Medical AG yesterday has entered into an agreement for the purchase of 100% of the shares in Ascon Software B.V. (operating under the trade name "Euroned"). Euroned is one of the players in the Dutch market for GP- and pharmacy-systems and has experienced impressive growth with their MIRA-product over the last years. In 2010 the company expects revenues of about 10.8 million euro, of which 65% is recurring, with an EBITDA of about 2.8 million euro.
Located in near Echt in the Southeastern part of the Netherlands the company employs 80 people and serves 430 pharmacies and 700 GPs, which corresponds to approximately 22% market share in the pharmacy area and a 10% market share for doctors. Since 2007, the company has been one of the few growing vendors (approx 10% p.a.) in these markets.
The MIRA product offered by Euroned is built on a modern web-based platform and covers GP´s as well as pharmacies based on the same core. More than 30% of the current customer base currently buys this product as an ASP/SaaS solution from the Ascon Hosting Facility and the migration of customers in this direction is expected to continue.
With this acquisition CompuGroup Medical enters the healthcare market in the Netherlands and strengthens its business in Europe. Going forward, interfaces will be integrated with the existing MIRA software to provide customers with access to CompuGroup Medical´s international product suite and enable them to benefit from intelligent solutions which are world trailblazers in terms of innovation and security.
Frank Gotthardt, CEO of CompuGroup Medical, underlined the importance of the takeover. "Euroned provides one of the most modern products on the Dutch e- health market as well as being a dynamic organisation which will be capable of rapid integration into our group. All of this puts the necessary foundations in place for achieving rapid and profitable growth at Euroned over the coming years."
The payment for the debt free company will be 15 million euro in cash and the purchase price will be financed through existing credit facilities. Full consolidation into CompuGroup Medical will take place from the business year 2011 onwards.
About CompuGroup Medical AG CompuGroup Medical is one of the leading e-health companies worldwide. Its software products, designed to support all medical and organizational activities in doctors´ offices and hospitals, its information services for all parties involved in the healthcare system and its web-based personal health records contribute towards safer and more efficient healthcare. The services of CompuGroup Medical are based on its unique customer base of around 370,000 doctors, dentists, hospitals and networks as well as other service providers. CompuGroup Medical is the e-health company with one of the biggest coverage among e-health service providers worldwide. The company operates in 15 European countries as well as in Brazil, Chile, Malaysia, Morocco, Saudi Arabia, South Africa and in the USA and currently employs around 3,100 people.
end of announcement euro adhoc
Further inquiry note:
CompuGroup Medical AG
Barbara Müller
Consultant Press & Media
P +49 (0) 261 8000-1293
F +49 (0) 261 8000-3284
E-Mail: press@cgm.com
Branche: Software
ISIN: DE0005437305
WKN: 543730
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