Fri, 11 May 2012 | BUSINESS SALE
Bolton-based healthcare software provider Ascribe has brought in US investment bank William Blair & Company to act as adviser on a potential sale.
The potential sale is to be looked into as part of a strategic review. It is understood that the firm could be sold for a price above £50 million and possibly reaching £80 million.
With its experience of making deals in the healthcare industry William Blair & Company are well placed to encourage a sale of Ascribe to a US trade buyer.
Established in 2004, Ascribe develops software for managing information in hospital environments, including patient administration systems, point of care systems and also offers bespoke solutions.
It has offices in Bolton, Cambridge, Southampton, Sydney, Melbourne and Nairobi.
Ascribe reported sales of £25 million for the year to June 2011, with pre-tax profits of £7 million. The sales figure was partly attributed to its successful purchase of rival healthcare business intelligence data firm 21C early last year.
Private equity firm ECI Partners supported a £32.9 million management buy-out of the firm in 2009. It is expected to make moves to exit its relationship with Ascribe at some point.
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