Strong results at market-leading UK MedTech group
A UK leader in connected healthcare software and services has reported growth in revenue and profits in 2018.
AIM-listed HealthTech firm EMIS Group saw a six per cent increase in revenue to £170.1 million.
The Leeds-headquartered group, formerly known as Egton Medical Information Systems, supplies electronic patient record systems and software used in primary care in England.
The group reports that the revenue growth was led by software and software licences at £62.2m, including business growth and the benefit of the sale of a legacy software product to Northern Territory, Australia.
"I am pleased with the overall results for the group in my first full year,” said Andy Thorburn, CEO of EMIS Group.
“The business performed well, with good revenue growth in the period and profit in line with market expectations, supported by growing revenues across all our key segments.
"We maintained our track record of high levels of recurring revenue, good cash generation and an increased dividend, and the group is well positioned for future growth."
Adjusted operating profit for the year grew by one per cent to £37.6m.
“We worked hard throughout the year to improve our service and responsiveness to our loyal customers," continued Thorburn.
"Our focus going forward is ensuring we secure our place on the GP IT Futures framework and on growing the business to business private sector enterprise side of our business, including continuing to develop patient-facing technology.
"Making the best use of technology remains a key focus for the NHS and we are well placed to deliver the digital solutions our customers and end-users need both now and in the future.
"We are in alignment with NHS policy and fully support the Secretary of State for Health and Social Care's modernisation agenda.
"We are energised and focused on executing our new strategy and associated plans in 2019."