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System C buys Liquidlogic for £14.2m

Healthcare software provider System C has acquired social care computing firm Liquidlogic for £14.2 million in cash and shares.

System C said the deal was a “significant strategic advance” which would expand its customer base and improve its product portfolio.

System C chief executive Ian Denley said: "Not only does the expanded company have excellent prospects in the health market and the social care sector, but it is perfectly positioned to support the government's drive to provide integrated care."

Liquidlogic's managing director, Ted Brierley, said: "System C is a really good match for us in terms of product, markets and company culture. We have worked together at the corporate and product level for many years and we are very excited about addressing large-scale emerging opportunities as a combined group.”

Liquidlogic has over 43,000 users working across 29 children's and 11 adult social care services and a range of NHS organisations. System C has provided consultancy services at over 200 healthcare trusts and installed patient management and clinical software applications in over 30.

The consideration is comprised of an initial £10.2 million in cash, with a deferred consideration of up to £4.0 million contingent on performance.

In conjunction with the acquisition System C raised £12.0 million in a placing, subject to shareholder approval. The funds will be used to finance future growth opportunities, the company said.

  

Posted on: 16/07/2009

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