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  • BY: Andrew Hore |
  • POSTED: 03/07/2013 |

Information management software provider Ideagen is acquiring MSS Management Systems Services, which supplies the Patient First system for emergency and unscheduled care in the NHS.

Ideagen is paying a minimum of £640,000 for MSS, which made an operating profit of £140,000 on revenues of £500,000 in the year to March 2013. Additional consideration of up to £504,000 is payable if revenues of £1.5m are achieved in the 10 months to April 2014. So far, ten out 166 acute trusts use the software. The software can be integrated into Ideagenís existing software.

Full year figures are due to be published in the middle of July. House broker finnCap forecasts an improvement in profit from £1.1m to £1.8m. Additional share issues and a rising tax charge mean that earnings per share growth is slower.

At 19p a share, Ideagen is valued at £23.1m. The shares are trading on less than 13 times estimated 2012-13 earnings.

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