CompuGroup reports Q1 figures

German e-health firm CompuGroup AG has reported its revenues grew by 36% in the first three months of 2009.

Profits decreased however from €12.8m in 2008 to €11.9m. The company attributed the difference to “acquisition related restructuring processes and regulatory implications”.

The firm reported that business opportunities remained good and that it had begun delivering hospital information systems to hospitals in Asia.

CompuGroup said that it was continuing to pursue a growth strategy, with revenue reaching €64.5m in the first quarter of 2009, compared to €47.5m a year ago.

The company also confirmed that in February it reached a deal to enter the US market by an agreement with Noteworthy Medical Systems, Inc. to purchase 51.6% of the shares in the Ohio-based company.

Noteworthy is a provider of connected healthcare technology solutions for the primary care sector and is said to offer a complete suite of applications, from web-based practice management to EHR software and tools for turn-key health information exchange.

In the HPS segment, the implementation of new hospital contracts and the changing business model in Germany is expected to accelerate growth and increase margins over the rest of 2009.

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