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2 Oct 2014 07:00
Date: | 2 October 2014 |
On behalf of: | Ideagen PLC ('Ideagen' or 'the Group') |
Embargoed until: 0700hrs | |
Ideagen PLC
Contract Win and Trading Update
Ideagen PLC (AIM: IDEA), a leading supplier of Information Management software to highly regulated industries, is pleased to announce that it has won its largest single NHS contract to date and gives a trading update for the financial year to date.
Highlights
§ £1m NHS Trust contract won
o Largest single NHS contract to date
§ Group trading in line with expectations
o Revenue and adjusted EBITDA* for the half year expected to show significant growth against the prior period
New NHS Contract
The new £1m contract, with Doncaster and Bassetlaw Hospitals NHS Foundation Trust ('The Trust'), is for the supply and implementation of the Group's Patient Information solution 'dart/KW'. This solution will enable the Trust to digitise and consolidate its records across a number of sites to ensure that Patient Information is available at the point of care.
The contract is further validation of dart/KW as a leading platform to support the Government's paperless NHS initiative and highlights that Ideagen is well positioned to address the c.75% of Trusts currently not using a solution.
It is expected that approximately 65% of the contract value will be recognised within the current financial year.
Trading update
The Group is pleased to announce that trading in the financial year to date has been robust in all areas of the business with both revenues and adjusted EBITDA for the first half expected to show significant growth over the same period last year. This is due to both strong organic growth and the acquisition of EIBS Ltd ("EIBS") in April this year. EIBS is now successfully integrated and performing in line with expectations.
David Hornsby, CEO of Ideagen, commented:
"I am delighted with progress so far this year and the new contract is a testament to the momentum of the Group and the opportunity available to us. We are seeing increased traction in our Governance, Risk and Compliance business and the NHS continues to be a strong market for the Group; both of which are evidenced by the Group's robust trading.
"We are seeing the benefits of the recent acquisitions coming through already and look forward to the remainder of the year with confidence."
* earnings before interest, tax, depreciation, amortization, share based payments and acquisition costs
- ENDS -
For further information: | |
Ideagen PLC | www.ideagenplc.com |
David Hornsby, Chief Executive | 01629 669 100 |
Graeme Spenceley, Finance Director | |
finnCap Limited | |
Charlotte Stranner/ Ben Thompson (NOMAD) | 020 7220 0500 |
Victoria Bates (Corporate Broking) | |
Redleaf Polhill | ideagen@redleafpr.com |
Rebecca Sanders-Hewett/ Dwight Burden/ | 020 7382 4730 |
Rachael Brown |
Notes to Editors:
§ Ideagen is an Information Management software company specialising in:
‒ Governance, Risk and Compliance ('GRC')
‒ Clinical content solutions
§ The Group has established a global business supplying GRC solutions predominantly to the Healthcare, Complex Manufacturing, Banking and Finance and Energy Sectors.
§ Its Clinical content division has leveraged the Group's core technology and built a UK business supplying content and clinical management solutions to NHS Trusts and Private Healthcare providers.
§ Ideagen's global blue chip client base includes Siemens, Shell, BAE Systems and a range of NHS Trusts.
§ The Group listed on AIM in 2012 under the ticker IDEA.
§ For more information, please visit http://www.ideagenplc.com
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