Acquisition of CareSys
October 2010
Advanced Computer Software Group plc, a leading provider of software and IT services for patient care, accounting and business management, has acquired Surrey based CareSys Software Ltd for £2.6m in cash.
CareSys’ leading product, also called CareSys, is a community healthcare software solution used by more than 170 community and specialist care providers in the UK and covers bed management, roster scheduling, billing and other services. This addition to Advanced’s Health and Care division strengthens the Group’s position as the leading supplier of software to care homes, community care centres and hospices, with the Group now serving more than 1,000 care providers across the UK.
The acquisition will be immediately earnings enhancing. CareSys has current annualised sales of £1.8m and EBITDA of £480k with more than 55% recurring revenues.
Vin Murria, Chief Executive of Advanced said, “The acquisition of CareSys strengthens our product portfolio in the community care sector and brings new clients that could benefit from other products and services provided by the Advanced Group.”
