February 1, 2008
Ascott Software acquired by Profdoc
Profdoc: Leading vendor of healthcare information technology for office-based physicians, hospitals and laboratories
Ascott Software has since 1987 developed and sold the electronic medical record (EMR) system Æskulap.
Æskulap is the leading system in the Danish market with approximately 3,500 installed licenses at around 750 locations, consisting of general practitioners, office-based specialists, private clinics, physiotherapists and dentists.
Profdoc secures leadership position in Denmark
GCA Altium was sole advisor to publicly-listed healthcare software company Profdoc (headquartered in Norway) on its acquisition of Ascott Software.
Working closely with the Profdoc, GCA Altium sourced and screened multiple acquisition target opportunities across Europe that could add to its strong position in providing systems and services for practice management and patient records.
With this acquisition, Profdoc increased its presence in the Danish market, where it was standing behind EMR system providers Darwin and MediCare.
In addition, Profdoc expected an increase in its Scandinavian operating margin (EBIT margin) in 2008 compared with 2007.
The negotiated price was set to DKK 60m in cash (USD 11m) and in addition 1m shares in Profdoc.
GCA Altium acted as sole advisor to the buyers.