ASP.L Regulatory News (ASP)

22 Oct 2007 12:40

Ascribe plc22 October 2007 Press Release 22 October 2007 Ascribe plc ("Ascribe" or "the Group") Ascribe plc acquires Scorpio Information Systems Limited enhancing portfolio of healthcare clinical information management systems 22 October 2007 - Ascribe plc (AIM:ASP), the health IT Group, today announcesthat it has acquired Scorpio Information Systems Limited ("Scorpio"), a supplierof clinical information management systems to the UK National Health Service ("NHS"). Scorpio has developed over thirty clinical modules for hospitaldepartments and patient care; these include endoscopy reporting, maternity,eye-unit casualty and oncology clinics, which are in use at twelve NHShospitals. This acquisition enables Ascribe to expand its Group offering with a greaterrange of comprehensive patient-centric information management systems, all ofwhich are capable of securely feeding information into patients' electronichealth records. The Ascribe Board expects to cross-sell Scorpio's systems toother customers of the Group. Scorpio will continue to develop clinician-focused modules that address thehealthcare IT requirements of modern hospitals. Scorpio's solutions areunderpinned by their ability to communicate health data efficiently and theirfaithful adherence to consistent best practice in a healthcare environment -from data collection through to the establishment of individual patient carepathways. The additional resources of the Ascribe group will enable Scorpio toextend its own suite of healthcare solutions. The total consideration of £1.31m, including payment for approximately £600kcash in Scorpio at completion, was satisfied by the payment of £0.88m cash andby the issue of ordinary shares in Ascribe plc to the value of £0.43m. In itslast statutory accounts, Scorpio reported turnover of £0.52m and an operatingprofit of £0.24m. The Board believes that this acquisition will be earningsenhancing during the first year. Stephen Critchlow, Executive Chairman of Ascribe commented, "I am delighted withthis acquisition; Ascribe and Scorpio share a fundamental approach towardsproduct development. We have both focused our software on improving patientsafety and supplying robust, integrated systems that quickly and easily deliverthe decision critical information required by clinicians. Furthermore, havingspent the 16 months since our last purchase developing an integrated businessplatform into which we can rapidly consolidate future acquisitions, we expectScorpio to be both earnings enhancing and capable of stimulating further organicgrowth within a relatively short period." - ENDS - For further information, please contact: Ascribe plcStephen Critchlow, Executive Chairmanwww.ascribe.com Tel: +44 (0) 870 053 4545 Jeremy Lee, Finance Directorwww.ascribe.com Tel: +44 (0) 870 053 4545 Nominated AdvisorCenkos Securities plc Tel: +44 (0) 20 7397 8900Ian Soaneswww.cenkos.com Media enquiries:AbchurchJustin Heath/Stephanie Cuthbert stephanie.cuthbert@abchurch-group.comwww.abchurch-group.com Tel: +44 (0) 20 7398 7700 Notes to Editors About Scorpio Information Systems Ltd. Scorpio is a highly innovative developer of healthcare IT systems that focusupon the needs of the clinician and the delivery of high quality, robust,software solutions. Founded by Alan Hales in 1999, the company has developed a range of hospitaldepartmental systems, ranging from Endoscopy Reporting Systems to Maternity, andCancer Care. All the modules are able to feed information into a Hospital'sPatient Administration System and contribute to each patient's Electronic HealthRecord (EHR). About Ascribe Ascribe plc is a leading healthcare company that develops and markets softwaresolutions supporting patient, clinical and business processes to Primary &Secondary healthcare providers in the UK and overseas. Ascribe is committed to providing technologies that improve patient safetystandards and the company's solutions directly improve patient care and deliverfinancial savings to customers. The Group sells directly to hospitals andPrimary Care Trusts rather than through centrally driven political initiatives. The Group provides solutions to clinical professionals in all healthcaresectors; customers include Emergency and Minor Injuries Units, Mental Health andSocial Care Units, Hospitals requiring patient administration systems (PAS) andmedical equipment management, Hospital and Retail Pharmacies, and GeneralPractice surgeries. Offering patient and decision support information to theseclinicians in context with their activity is the key to the company's ongoingsuccess. Ascribe plc was floated on AIM in 2004, and currently employs over 220 personnelthrough its operating companies in the UK, Kenya, Australia and New Zealand. Formore information, please visit www.ascribe.com. (c) Ascribe 2007. Ascribe is a registered trademark of Ascribe plc. All otherbrands and product names and trademarks are the registered property of theirrespective companies. This information is provided by RNS The company news service from the London Stock Exchange