Advanced Computer Software Plc, the AIM listed provider of software and IT services to the primary care sector, has acquired Redac Holdings Limited, owner of COA Solutions from Alchemy Partners for a total consideration of £100m. The transaction is financed through ACS's cash resources and new bank debt
COA has been a leading supplier of software solutions to the public and private sectors for over 25 years, with in excess of 5,000 direct and indirect customers in Healthcare, Public and Emergency (blue light) services and the private sector. COA provides software products for accounting and budgeting, data analysis, business intelligence (including patient pathways), compliance, billing, executive dashboard, HR, payroll, procurement, document management and business process outsourcing (BPO) services.
The acquisition, will significantly strengthens ACS's position within the healthcare and public-sector markets; provides access to key decision makers, creating significant opportunities for cross selling both ACS and COA products. The £100m cash consideration is funded through ACS's cash resources and £55m of new bank facilities provided by HSBC Bank plc and Royal Bank of Scotland plc
More to come soon.
