Alcidion (ASX:ALC) has acquired ExtraMed

Alcidion (ASX:ALC) has acquired ExtraMed Ltd., a UK provider of patient flow management software that helps address key pain-points for hospital administrative staff.

Alcidion is transforming healthcare with smart, intuitive and complementary software products and services that create a unique offering in the global healthcare market. It offers solutions that support interoperability, allow communication and task management, and deliver clinical decision support at the point-of-care to improve patient systems. Alcidion has delivered strong organic growth in FY20 (with solid revenue up 33% as of Q3). The acquisition of ExtraMed will further accelerate this growth profile. This will add nine NHS trusts (six being new to Alcidion), expanding its NHS presence to 27 trusts or ~19% of target Acute NHS market, with upside revenue potential on cross-sell opportunities for Miya (its flagship product).

ExtraMed is a long-standing UK market leader in patient flow and has a 20-year track record. It specializes in providing NHS trusts with software that helps frontline staff make informed decisions based on real-time visibility of patient flow.

Oaklins’ team in Australia acted as corporate advisor to the buyer in this transaction.