Advanced Computer Software (LON:ASW) has put together its second healthcare deal inside a month with the £2 mln acquisition of clinical care software group Strand Technology.
Advanced Computer said Strand’s Carenotes software fits in strategically with its own Advanced Care and Health division and would boost its presence in the £100 mln community care market, especially when current NPfit contracts end between 2014-16.
The consideration for Strand is £2 mln cash. It generated turnover of £1 mln in the year to March of which 45 per was recurring.
Vin Murria, Advance Computer’s chief executive, said: "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."
Earlier this month, Advanced Computer lent struggling care home software group Avia Health Informatics £350,000 in exchange for an option to take a 29.9% stake in the company.