Capita acquires healthcare software firm, iSoft Business Solutions15th December 2010
Capita announces today that it has acquired McKeown Software Limited, trading as iSoft Business Solutions, for a consideration of £23 million on a cash-free, debt-free basis. iSoft Business Solutions1 is a leading provider of financial accounting and purchasing software to the public sector, including 60 per cent of English NHS trusts and other local government, not-for-profit and housing association organisations.
The acquisition adds further depth and breadth of expertise to Capita’s existing services for the health market, and will add new capabilities to Capita’s range of health services and support for the emerging GP consortia. Capita’s existing services include running the NHS Choices programme, stakeholder engagement services through Capita Membership and staff and stakeholder feedback from Capita Surveys, health informatics firm CHKS, and the administration of the payment of national health patient fees to dentists on behalf of NHS BSA.
Commenting on the deal, Paul Pindar, Chief Executive of The Capita Group Plc said: “iSoft Business Solutions, the leading finance system in the NHS market place, broadens Capita’s penetration in the NHS market, both in the number of client relationships and the depth of our product offering. iSoft Business Solutions’ systems and expertise are also relevant to clients in our other core markets.”
Commenting on the acquisition, Eamonn Morris, managing director of iSOFT Business Solutions, said: “iSOFT Business Solutions has grown steadily in terms of revenues and profits. This healthy financial position, together with our strong product and service offerings and growing customer base, along with Capita’s confidence in our management and staff, presents Capita with an exciting opportunity to invest in our organisation. This investment will enable us to strengthen our position in the heath sector and help us provide an offering to the GP consortia. The management team and I feel encouraged by this acquisition.”
iSoft Business Solutions, which will be known as I B Solutions after the acquisition, has around 140 employees, mainly based in Letchworth and Dublin.
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Title: Capita acquires healthcare software firm, iSoft Business Solutions
Author: Martine Hamilton
Article Id: 17044
Date Added: 15th Dec 2010