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CompuGroup Medical AG

EANS-News: CompuGroup Medical enters the Dutch market

Koblenz (euro adhoc) -

Acquisition of Euroned
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Mergers - Acquisitions - Takeovers
Subtitle: Acquisition of Euroned
23 December 2010. CompuGroup Medical AG
yesterday has entered into an agreement for the purchase of 100% of 
the shares in Ascon Software B.V. (operating under the trade name 
"Euroned"). Euroned is one of the players in the Dutch market for GP-
and pharmacy-systems and has experienced impressive growth with their
MIRA-product over the last years. In 2010 the company expects 
revenues of about 10.8 million euro, of which 65% is recurring, with 
an EBITDA of about 2.8 million euro.
Located in near Echt in the Southeastern part of the Netherlands the 
company employs 80 people and serves 430 pharmacies and 700 GPs, 
which corresponds to approximately 22% market share in the pharmacy 
area and a 10% market share for doctors. Since 2007, the company has 
been one of the few growing vendors (approx 10% p.a.) in these 
markets.
The MIRA product offered by Euroned is built on a modern web-based 
platform and covers GP´s as well as pharmacies based on the same 
core. More than 30% of the current customer base currently buys this 
product as an ASP/SaaS solution from the Ascon Hosting Facility and 
the migration of customers in this direction is expected to continue.
With this acquisition CompuGroup Medical enters the healthcare market
in the Netherlands and strengthens its business in Europe. Going 
forward, interfaces will be integrated with the existing MIRA 
software to provide customers with access to CompuGroup Medical´s 
international product suite and enable them to benefit from 
intelligent solutions which are world trailblazers in terms of 
innovation and security.
Frank Gotthardt, CEO of CompuGroup Medical, underlined the importance
of the takeover. "Euroned provides one of the most modern products on
the Dutch e- health market as well as being a dynamic organisation 
which will be capable of rapid integration into our group. All of 
this puts the necessary foundations in place for achieving rapid and 
profitable growth at Euroned over the coming years."
The payment for the debt free company will be 15 million euro in cash
and the purchase price will be financed through existing credit 
facilities. Full consolidation into CompuGroup Medical will take 
place from the business year 2011 onwards.
About CompuGroup Medical AG CompuGroup Medical is one of the leading 
e-health companies worldwide. Its software products, designed to 
support all medical and organizational activities in doctors´ offices
and hospitals, its information services for all parties involved in 
the healthcare system and its web-based personal health records 
contribute towards safer and more efficient healthcare. The services 
of CompuGroup Medical are based on its unique customer base of around
370,000 doctors, dentists, hospitals and networks as well as other 
service providers. CompuGroup Medical is the e-health company with 
one of the biggest coverage among e-health service providers 
worldwide. The company operates in 15 European countries as well as 
in Brazil, Chile, Malaysia, Morocco, Saudi Arabia, South Africa and 
in the USA and currently employs around 3,100 people.
end of announcement                               euro adhoc

Further inquiry note:

CompuGroup Medical AG
Barbara Müller
Consultant Press & Media
P +49 (0) 261 8000-1293
F +49 (0) 261 8000-3284
E-Mail: press@cgm.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

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