LONDON (Alliance News) - EMIS Group PLC on Tuesday said it completed the disposal of its non-core Specialist & Care segment to public sector services provider Northgate Public Services (UK) Ltd.
The deal will see EMIS, a healthcare software and services provider, receive GBP14.9 million cash, of which GBP14.0 million on completion and GBP900,000 in contingent consideration.
The proceeds of the disposal will be used for general corporate purposes, including investment in the main elements of EMIS' growth plans.
The Specialist & Care business provides diabetic eye screening software and other ophthalmology-related solutions, the company explained. In 2018, it generated GBP20.4 million of revenue and an adjusted operating profit of GBP1.1 million.
EMIS shares were trading 2.7% higher at 1,086.00 pence each.
