Advanced Computer Software Group plc Completes Acquisition of Strand Technology for £2.0m
Advanced Computer Software Group plc (AIM: "ASW", "Advanced", or "the Group"), a leading provider of healthcare and business management software and services, has acquired Strand Technology Limited, a leading supplier of clinical care management solutions to community care and mental health organisations, for a total cash consideration of £2.0m.
- Strategic product acquisition for the Group's Advanced Health & Care division supporting penetration of the £100m market for community care as NPfit contracts end in 2014-16
- Strand's flagship solution CareNotes provides a fully integrated web-based health and social care solution covering all aspects of community and mental health care
- Access to new customers across both public and private sectors
- In the year ended 31 March 2012, Strand had a turnover of £1m, approximately 45% recurring
Vin Murria, Chief Executive, commented:
"This is a strategic product acquisition which extends the Group's patient care management software solution into the substantial community and mental healthcare market.
"Strand's flagship solution CareNotes, has been developed with the assistance of 100's of clinicians from Trusts and Social Care organisations throughout England and will play an important role in supporting Advanced's strong growth in delivering care in the community and mobile healthcare solutions."