Ascott Software

Ascott Software
 acquired by Profdoc

February 2008

Profdoc: Leading vendor of healthcare information technology for office-based physicians, hospitals and laboratories

"This is a major and important agreement for Profdoc through which we have taken huge steps in the Danish market. The acquisition is in alignment with our strategy, and will fortify our leading position in Scandinavia."

Christian B. Teig, President and CEO of Profdoc

Founded

1993

2007 revenue

USD 6m

EBIT margin

38%

Installed EMR systems

c. 3,500

Headquarters

Frederikshavn, Denmark

A Danish pioneer providing electronic medical record systems in more than 750 locations

Ascott Software has since 1987 developed and sold the electronic medical record (EMR) system Æskulap.

Æskulap is the leading system in the Danish market with approximately 3,500 installed licenses at around 750 locations, consisting of general practitioners, office-based specialists, private clinics, physiotherapists and dentists.

Profdoc secures leadership position in Denmark

Stella EOC was sole advisor to publicly-listed healthcare software company Profdoc (headquartered in Norway) on its acquisition of Ascott Software.

Working closely with the Profdoc, Stella EOC sourced and screened multiple acquisition target opportunities across Europe that could add to its strong position in providing systems and services for practice management and patient records.

With this acquisition, Profdoc increased its presence in the Danish market, where it was standing behind EMR system providers Darwin and MediCare.

In addition, Profdoc expected an increase in its Scandinavian operating margin (EBIT margin) in 2008 compared with 2007.

The negotiated price was set to DKK 60m in cash (USD 11m) and in addition 1m shares in Profdoc.


Stella EOC acted as sole advisor to the buyers.