02/12/08
Acquisition of assets from CSW

IMS announces that it has acquired certain assets of CSW Group Limited (“CSW”) for £175,000 in cash from the Administrators of CSW Group Limited. The Administrators were appointed on 24 October 2008 and act only as agents to CSW.

CSW Group Limited is an Oxford-based specialist in XML-based software applications for healthcare. It had contracts with British Telecommunications plc (“BT”), the London Local Service Provider, and a number of NHS trusts with a turnover to 31 January 2008 of £5.3m.  Under the terms of the acquisition, IMS will acquire certain of these contracts with aggregate annualised revenues of approximately £800,000 and IMS will also take on a number of staff. If IMS sells the KMS Software asset acquired from CSW within the next twelve months then it will share any profits with CSW Group Limited (In Administration). The acquisition is expected to be neutral in terms of the consolidated profits for IMS in the year to 31 March 2009.

IMS is now working closely with BT to ensure a smooth transition of support takes place, for both the eSAP and CHIA solutions which were developed by CSW and deployed across London by BT as part of the Connecting for Health funded National Programme for IT.

This acquisition both widens and further strengthens the IMS suite of healthcare solutions available and means that IMS can better support the need for tactical and strategic solutions for the UK NHS, Irish Health Services, Private Health sector and emerging markets in the Middle East. By combining IMS’s functionally rich clinical software product, MAXIMS, with a provider’s existing Patient Administration System and other systems, users can immediately access a rich on-line patient record. Advanced functionality such as order communications, scheduling, bed management, 18 week RTT pathway management, nursing documentation, clinical noting, assessment tools, clinical outcomes measurement and production of discharge summaries is fully supported.

Commenting upon the acquisition Brian Ennis, Chief Executive officer of IMS, said:

“Our first priority is to continue the support of CSW solutions to existing customers and to embrace the knowledge and experience of the CSW team. The combined product offering will allow IMS deliver an even broader range of leading clinical software applications to healthcare users.”

For further information please contact:

[Go to Main News]