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02 Apr 2019 | 07:57

EMIS Group completes sale of specialist & care segment to Northgate Public Services for £14.9m

EMIS Group completed the sale of its specialist & care segment to Northgate Public Services for £14.9m. Its specialist & care segment provided diabetic eye screening software and other ophthalmology-related solutions in England and Ireland. The sale included three businesses: Medical Imaging UK Ltd (England eye screening services), MIDRSS Ltd (Ireland eye screening services) and Digital Healthcare Ltd (eye screening software). The total cash consideration for the disposal was £14.9m, made up of £14.0m paid on completion and £0.9m of contingent consideration.

In the financial year ending 31 December 2018, specialist & care reported £20.4m of revenue, an adjusted operating profit of £1.1m and closing net assets of £8.0m. The proceeds of the disposal would be used for general corporate purposes, including investing in the main elements of EMIS Group's growth plans.

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