EANS-Adhoc: CompuGroup Medical AG expands in US Market
31.08.2010 | 03:57 Uhr-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
Company Information
31.08.2010
Koblenz: Today, CompuGroup Medical AG has entered into an agreement for the purchase of 100% of the shares in American Healthcare Holdings, Inc., Visionary Medical Systems, INC. and Visionary RCM, INC. ("Visionary Healthware Group"). Visionary Healthware Group is a provider of practice management software and electronic health records to approximately 10,000 office-based doctors in USA, and also a vendor of laboratory information systems and revenue cycle management services. Total sales in 2009 were about $28.0 million and EBITDA was about $6.2 million.
The payment for all debt and equity in the entities acquired is expected to total $44 million in cash plus an additional variable consideration over the next 2 years of up to $21 million depending primarily on the continued growth in number of users. The initial purchase price will be financed through cash at hand and new long-term debt. The shares of Visionary Healthware Group will be held by CompuGROUP Holding USA, Inc., a wholly-owned entity of CompuGroup Medical AG. The closing of the transaction is scheduled for September 1st 2010
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Further inquiry note:
Ralf Glass Vicepresident CEO support T +49 (0) 160 3630315 E-Mail: ralf.glass@compugroup.com Branche: Software ISIN: DE0005437305 WKN: 543730 Börsen: Frankfurt / regulated dealing/prime standard Berlin / free trade Hamburg / free trade Stuttgart / free trade Düsseldorf / free trade München / free trade