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Induction Healthcare - Induction: Horizon achieves earn-out target

RNS Number : 4698X
Induction Healthcare Group PLC
01 September 2020
 

1 September 2020

 

Induction Healthcare Group PLC

 

("Induction", the "Company", or the "Group")

 

Induction subsidiary Horizon achieves earn-out target ahead of schedule

 

Induction, a leading healthcare technology company that helps healthcare professionals deliver better care more efficiently, today announces that Horizon Strategic Partners Limited ("Horizon") has achieved its earn-out target ahead of schedule following its acquisition by the Company, announced on 6 November 2019.

 

Since acquisition, Horizon's platform MicroGuide has grown revenue and delivered +32.0% YoY growth in registered users and +44% YoY growth in guideline page views as at 27 August 2020.

 

As part of the purchase agreement and as a result of Horizon achieving its earn-out target, a deferred contingent consideration of £1.5 million will be paid in cash.

 

MicroGuide is the UK market leader, enabling medical organisations to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. The platform helps over 170,000 registered users in multiple territories, including the majority of hospital trusts within the NHS

 

ENQUIRIES

 

Induction Healthcare

Via FTI Consulting

Dr Hugo Stephenson, Joint Chief Executive Officer


James Balmain, Joint Chief Executive Officer




Numis Securities (Nominated Adviser and Broker)

+44 (0) 207 260 1000

James Black / Freddie Barnfield / Huw Jeremy / Matthew Jones




FTI Consulting

+44 (0) 203 727 1000

Jamie Ricketts / Elena Kalinskaya / Sam Purewal / Mary Whittow


 

 

About Induction

 

Induction Healthcare Group PLC is a leading healthcare technology company that helps healthcare professionals deliver better care more efficiently. The Group has three platforms, Induction and MicroGuide, that support healthcare professionals in multiple markets, including the UK, Ireland, Australia & South Africa, plus Zesty, a leading provider of patient portals to NHS Hospitals in the UK.

 

Induction is the number one healthcare collaboration app in the UK, used by the majority of hospital doctors within the NHS. The app helps over 140,000 registered users in multiple territories to increase productivity and enhance communication by securely sharing phone numbers and bleeps, bookmarks, documents and messages in a clinical setting.

 

The MicroGuide platform provides medical organisations with the ability to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. The platform helps over 170,000 registered users in multiple territories, including the majority of hospital trusts within the NHS.

 

The Zesty platform enables patients to manage their care direct from their smartphone. The Zesty patient portal removes the friction from everyday health related tasks, like booking and managing appointments, reading letters digitally and sharing copies of electronic medical records.

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Quick facts: Induction Healthcare Group PLC

Price: 87.5

Market: AIM
Market Cap: £36.79 m
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