Ascribe Plc has announced that it has acquired A&E specialist software company Footman Walker Ltd for £2.6 million.
Footman Walker is a supplier of information systems to hospital Accident and Emergency Departments and minor injuries units. According to Ascribe the firm’s software is used in 30% of A&E departments within the UK NHS.
The purchase of Footman Walker represents a new strategic direction for Ascribe, which until now has largely focused on medicines management systems – a sector in which it claims to have a 50% market share.
According to Ascribe the acquisition is a good fit and will enable tighter integration between information on a patient’s medical needs and their medicines, in emergency care settings.
Stephen Critchlow, chief executive of Ascribe plc, said of the deal: “Patient information systems are a crucial component of the Government’s healthcare agenda and connectivity of inter-departmental patient information is vital, particularly in the area of A&E, where time critical live saving treatments are undertaken."
He added: "Bringing Footman Walker into Ascribe is another significant milestone in our delivery of total medicines management for the benefit of patients. The acquisition is earnings enhancing and the business is expanding in a market where it is the recognised leader."
Other companies owned by Ascribe Group include ASC Computer Software Limited, a software supplier to hospital pharmacy departments internationally and Protechnic Exeter Limited, a provider of software solutions to the primary healthcare market.
The total consideration of £2.6 million, including a deferred element of £800,000, is to be satisfied by a mixture of cash and new ordinary shares. In the year ended 30 April 2004, Footman Walker made a profit before tax of £242,000 on a turnover of £1.24 million.