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Clinical Computing

  • BY: Andrew Hore |
  • POSTED: 21/04/2011 |

Former Corac boss Gerry Musgrave has become non-executive chairman of healthcare information systems developer Clinical Computing.

Professor Musgrave will help the business to develop strategic relationships.

Howard Kitchener moves from chairman to non-executive director.

Clinical Computing reported a 7% decline in revenues to 3m. The majority of the decline was in the sales of software licences. There was also a dip in pre-tax profit from 220,000 to 181,000. Nearly 1.3m was expensed on software development. This figure may fall back this year.

The best performer in the group was management information software provider Hydra.

The business is cash generative thanks to R&D tax credits and Clinical Computing has moved into a net cash position at the end of 2010. The bank facilities are in the process of being renewed.

At 2.12p a share, Clinical Computing is valued at 2.36m.

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