Acquisition of Apollo Medical Systems Limited
HMT acted as reporting accountants for Sunset Dawn Limited on its acquisition of Apollo Medical Systems Limited (“Apollo”).
Apollo was established in 2000 and is now a well-established and successful provider of IT solution to the National Health Service (“NHS”). This has been brought about by the development and supply of specialist software, SQL suite, which has now effectively been embedded into around 90% of GP surgeries.
“We consider that in light of the specialist software provided, as well as the level of customer orders underpinning future sales, Apollo is an attractive acquisition target. In particular, any growth in sales is likely to feed directly through to profitability and cashflow, as the overhead base is largely fixed in nature”