Wellbeing Software has been acquired by Australia’s Citadel Group in a deal worth £103million.
Due to be completed in April, it is hoped the acquisition will help grow Wellbeing’s presence in the UK while also supporting international growth in speciality areas of radiology workflow, maternity, electronic patient health records and data management.
While the company, which provides radiology and maternity software, will continue to focus on its core sectors, the acquisition will also enable Wellbeing to expand into areas where Citadel is already strong, such as pathology and oncology systems.
Wellbeing Software CEO, Graham Ridgway, said: “Our two companies each bring their own strengths to the table. There is very little overlap but much synergy and complementary opportunity.
“We are excited at the prospect of being able to further invest in and develop our core software products while also offering customers proven solutions in other critical healthcare disciplines, from a single specialist vendor.
“It has long been our goal to be able to bring fully integrated clinical disciplines to our UK customers as well as to take our products outside of the UK.”
Wellbeing’s UK customers include Royal Cornwall Hospitals Trust, where expectant mothers are able to access their personal health records through a digital portal powered by the company.
Citadel CEO, Mark McConnell, added: “Citadel’s acquisition of Wellbeing transforms Citadel into a global healthcare software company with multiple growth opportunities.
“Citadel has been focused on growing in the healthcare software sector in the UK over the past two years. I am excited to welcome Wellbeing’s management team into Citadel and am looking forward to executing on the many growth opportunities we see for the combined businesses.”