Alcidion announces acquisition of MKM Health to create international health informatics company

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Alcidion Group Limited, a health informatics software business, has announced it has entered into agreements to acquire MKM Health Pty Ltd and its NZ subsidiary as well as its affiliate, Patientrack Holdings Limited and its subsidiaries in the UK and Australia from the current MKM Health and Patientrack shareholders. MKM Health is a leading provider of IT solutions to healthcare providers across Australia and New Zealand, and UK-based Patientrack is a world leading supplier of healthcare software targeted at improving patient safety in hospitals.

This transformative acquisition creates a new and leading specialist health IT solution provider focused on “next generation” decision intelligence and analytics technology designed for hospital and allied healthcare customers globally. Patientrack and Alcidion’s existing Miya and Smartpage products will provide the expanded group with a strong foundation of complementary technologies.

As well as leading edge technology solutions, the enlarged Alcidion group will have leading healthcare system integration, implementation and software support services that have enabled the companies to build enduring partnerships with many large healthcare providers across Australia, NZ and the UK. These services are built on a unique blend of deep technical skills and health informatics domain expertise. MKM Health and Patientrack will also bring specialist sales and marketing capabilities across three key geographic markets.

The acquisition expands Alcidion’s international and domestic footprint substantially with a diversified customer base including 20 National Health Service (NHS) hospitals in the UK – including the largest NHS trust - more than 50 Australian public and private hospitals, and Health Departments, and 11 District Health Boards covering more than 30 New Zealand hospitals.

Alcidion’s Chairman, Mr Ray Blight said, “We are very pleased to have entered into acquisition agreements to acquire the shares of MKM Health and Patientrack, both leading technology players in the healthcare sector.

“We are expanding our technology capabilities and our product offering, and the combined group will also have the specialist health IT sales, advisory and service delivery capabilities that are required to sell and deliver complex healthcare IT platforms. We believe the acquisition creates valuable synergistic opportunities for both companies and is expected to increase Alcidion’s earnings, on a per share basis, in the first full year of ownership.”

Source: Australian Securities Exchange media release, 24 April 2018

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