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SYSTEMS SOLUTIONS AND MEDICOM MERGE TO CREATE LARGEST IRISH ICT HEALTHCARE COMPANY
Ireland, 08 January 2007 - Systems Solutions and Medicom Medical Computer Solutions Ltd. today announced that they have signed a definitive merger agreement, under which Systems Solutions will acquire the majority stake in Medicom. This deal creates the largest indigenous provider of health informatics in Ireland, employing over 100 people and generating combined annual revenues of €10 million.
Systems Solutions supplies software offerings to the pharmacy sector in Ireland and the UK, while Medicom provides software and ICT services to primary and secondary care professionals. Both companies have a strong track record of success and will bring their expertise together for the benefits of both sets of customers.
The newly-formed company aims to provide support both to and between the primary care, secondary care and pharmacy sectors in a fully integrated manner in the months and years ahead. The merging of these two entities will allow for increased synergies between pharmacies and primary care professionals which will bring time and cost benefits in addition to benefits for patients.
Mr. Howard Beggs, new CEO of the combined corporation, said, “This merger brings many benefits to our customers, employees and stakeholders. Together, we envisage the creation of an integrated, joined-up primary healthcare service, which will electronically connect all primary healthcare providers together, improving quality and accessibility of healthcare services for both primary healthcare providers and patients alike. This provides an opportunity for two successful, market-leading organisations to combine resources, skills and intelligence to change and enhance the healthcare structures that are currently in place, while allowing customers to continue to use their existing software from both companies”.
Commenting on the announcement, Patricia Mc Lister, Enterprise Ireland’s Scaling Division said: “Enterprise Ireland’s Scaling Division is working with Systems Solutions to achieve their scaling strategy. This merger between Systems Solutions and Medicom is a significant step in the company’s plan to realise scale, which Enterprise Ireland defines as annual sales in excess of €20 million.”
The newly created company will invest €750,000 each year in R&D, securing the company’s place at the forefront of innovative healthcare informatics, developing solutions that will set new standards on an international stage.
David Raethorne, former technical director of Systems Solutions and newly appointed Chief Technical Officer adds, “Both Systems Solutions and Medicom share a passion for developing and delivering the very best in healthcare IT solutions to alleviate the current healthcare challenges and improve the healthcare experiences for providers and patients alike. We plan to develop and deliver next generation, cutting-edge technology that will make the Irish primary healthcare sector an international model of excellence”.
With a combined customer base of over 10,000 users of its healthcare software offerings, the newly-merged company will meet a wider range of customer needs through an enlarged customer services function, combined with a significantly enhanced programming and development function. Initially, the new organisation will enjoy 65% and 12% market share of the Irish and UK pharmacy markets respectively, almost 60% of the Irish general practice (GP) management market, 60% of the computerised private consultant market, with significant market exposure in the specialised healthcare services market.
As a combined entity, the company will provide software to professionals in the primary care sector (general practice and retail pharmacy), the PCCC sector (managed care and some specialities) and the secondary care sector (hospital pharmacy and health assessments).
About Systems Solutions:
Systems Solutions has been developing and marketing software products and services for pharmacy since 1987, and is the largest provider of retail and hospital pharmacy solutions in the Republic of Ireland. Independently owned, Systems Solutions has built a solid reputation for its thought leadership and ability to deliver cutting-edge solutions for pharmacy which solve complex business issues. The organisation pioneered Electronic Claims Transmission software, integrated medicines management support and real-time centralised (shared) Patient Medication Records. The company is renowned for its software development expertise, matched with its constant focus on quality and innovation. In 2006, the company was one of only seven Irish software companies to achieve a ranking in the Deloitte Fast 500, recognising the fastest growing companies in Europe, Middle East and Africa (EMEA).
About Medicom:
Medicom Medical Computer Solutions Ltd. is Ireland’s leading provider of software, services and information technologies for healthcare professionals. Established in the mid-1990s, Medicom has spent the last decade working with healthcare professionals, administrators, government and other stakeholders to develop software systems that enhance the delivery of patient care. The company prides itself on developing highly functional, feature-rich and user-friendly product suites that deliver tangible benefits to all stakeholders in the delivery of patient care.
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