Acquisition of Healthcare Software Systems Limited
HMT acted as reporting accountants for Sunset Dawn Limited on its acquisition of Healthcare Software Systems Limited.
HSS was established in 1987 and is now a leading provider of radiology information management solutions in the healthcare industry. This has been brought about by the development and supply of specialist software, namely ‘Computerised Radiology Information System’ (“CRIS”) under the National Programme for IT launched by the National Health Service in 2002. CRIS has now been embedded into around 150 sites nationwide.
“HSS has a number of similarities to Apollo Medical Systems Limited which was acquired by Sunset in early 2006, in that it has a market leading product in the NHS IT sector, is enjoying market dominance in a fast-growing healthcare IT, is profitable and cash generative and has virtually full visibility of its revenues for the next two years. With strong track record in such buy and build strategies, we believe that the expertise of the majority shareholder of Sunset will provide further scope for growth for the enlarged group.”