News
iSOFT acquires Belgian scheduling software company UltraGenda
22 February 2010
iSOFT has acquired Belgium-based healthcare IT company
UltraGenda BV for up to €10.7 million (A$16 million).
Ultragenda has a suite of software products that enable healthcare organisations to schedule and manage appointments.
The company has sales at over 100 hospitals in a number of European markets including
Belgium, Denmark, France, Germany, Netherlands, Norway, Spain,
Switzerland and the UK.
iSOFT says the takeover is part of the
company’s strategy of boosting its portfolio of innovative solutions and
driving additional sales through bolt-on acquisitions.
UltraGenda generated an unaudited pre-tax profit of €1.7 million on
revenue of €3.5 million for the last fiscal period. iSOFT paid an
initial consideration of €8.3 million for the acquisition, to be
followed by two payments of €1.3 million each in January 2011 and 2012
subject to revenue growth performance targets. The consideration will be
paid in cash.
The UltraGenda solution is already integrated with iSOFT’s hospital systems
at a number of sites in the UK and Netherlands. The product is compliant
with the NHS Spine in the UK, and contains functionality that can be
incorporated into iSOFT’s Lorenzo development roadmap for the National
Programme for IT (NPfIT).
iSOFT says the acquisition will significantly reduce the lead time for
fulfilling the NHS’s requirement for enterprise-wide multi-resource
scheduling functionality. UltraGenda provides functionality demanded by
many large healthcare organisations, and can be deployed without
replacing existing hospital solutions.
“UltraGenda has an outstanding reputation as a world-class niche
software developer, and we warmly welcome them into the iSOFT fold,”
said Gary Cohen, Executive Chairman & CEO. “The deal is part of our
strategy of building a comprehensive portfolio of solutions that can be
leveraged across our global footprint, as well as providing an immediate
boost to our Lorenzo roadmap under the National Programme.”
UltraGenda, which will be managed by iSOFT’s Continental European
business unit, will be introduced to the global market in March as part
of iSOFT’s delegation at the Healthcare Information and Management
Systems Society (HIMSS) conference in Atlanta and the World of Health IT
conference in Barcelona.
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