– Cerner sells off parts of healthcare IT business in Germany and Spain to Germany company CompuGroup Medical SE for EUR 225 million ($247.5M USD).
– The acquired assets include “medico” and “Soarian Integrated Care”, hospital information systems (HIS) in Germany, Selene, a HIS in Spain, and “Soarian Health Archive”, a document archiving solution for healthcare providers.
– The sell-off by Cerner reflects the company’s overall growth strategy and optimized approach to portfolio management.
Today, CompuGroup Medical SE and Cerner Corporation have entered into an agreement to acquire parts of Cerner’s healthcare IT portfolio in Germany and Spain for EUR 225 million ($247.5M USD). The key products of the acquired portfolio are “medico” and “Soarian Integrated Care”, leading hospital information systems (HIS) in Germany, “Selene”, a leading HIS in Spain, and “Soarian Health Archive”, a document archiving solution for healthcare providers. The customer base of the acquired business consists of 251 hospitals in Germany and of 65 hospitals in Spain.
Sell Off Reflects Cerner’s 2020 Growth Strategy
The sell-off by Cerner reflects the company-wide transformation focused on improved operating efficiencies, enhanced client focus, a refined growth strategy and a sharpened approach to portfolio management. Barclays acted as exclusive financial advisor to Cerner. For 2019, revenues attributable to the assets to be purchased were approximately EUR 74 million with an EBITDA of approximately EUR 13 million. Closing of the transaction is expected to occur in the third quarter of 2020, subject to certain regulatory approvals and other closing conditions. Barclays acted as exclusive financial advisor to Cerner.
Acquisition Strengthens CompuGroup Medical’s Position in Germany and Spain
“The products from this acquisition are an excellent fit with our current portfolio,” emphasizes Frank Gotthardt, Chairman, and CEO of CompuGroup Medical SE. “Existing customers of CGM, as well as those of medico, S-IC, S-HA, and Selene, will benefit from this transaction: The products acquired from Cerner complement our existing portfolio of products perfectly, and we believe the exchange between professionals of all healthcare segments will be further intensified. For all of our customers, this means that they will be optimally prepared for a world in which the patient journey is increasingly cross-institutional and cross-sectoral. And this is true regardless of whether they are doctors’ or dentists’ practices, hospitals, laboratories, pharmacies, rehabilitation or care facilities or other service providers.”
CompuGroup Medical SE Background
CompuGroup Medical is one of the leading eHealth companies in the world. With a revenue base of approximately EUR 746 million in 2019, its software products are designed to support all medical and organizational activities in doctors’ offices, pharmacies, laboratories and hospitals. Its information services for all parties involved in the healthcare system and its web-based personal health records contribute towards safer and more efficient healthcare.
CompuGroup Medical’s services are based on a unique customer base of more than 1 million users, including doctors, dentists, pharmacists and other health professionals in inpatient and outpatient facilities. The company has locations in 19 countries and products in 56 countries worldwide.