Cegedim: Business activities of US subsidiary sold
- Deal improves the Group’s financial position
- Pulse activities folded into a group with a solid presence in North America
| Disclaimer: This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information. It was sent to Cegedim’s authorized distributor on August 27, 2019, no earlier than 5:45 pm Paris time. |
Boulogne-Billancourt, France, August 28, 2019, before the market opening
Cegedim, an innovative technology and services company, announces that it has sold virtually all the business activities of its wholly owned subsidiary, Pulse Systems Inc., to CareTracker Inc., an affiliate of N. Harris.
Under the terms of the sale, Pulse’s software solutions and services, RCM services, all customer contracts, a portion of supplier contracts, and much of its personnel were transferred to the buyer.
As part of a group with a solid foundation in North America, Pulse will have all the resources it needs to successfully pursue its development. The deal will allow Cegedim to focus its efforts on Europe and the UK, and to improve its financial position.
The divestment could result in asset impairment of around €20 million. The Group will be in a position to disclose more information when it announces its first-half results on September 19.
In 2018 Pulse contributed €11.3 million to the Group’s consolidated revenues and made negative contributions to consolidated EBITDA and EBIT before special items. Pulse Systems Inc. will be wound up in the coming months.
About Cegedim:
Founded in 1969, Cegedim is an innovative technology and services company in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 4,500 people in more than 10 countries and generated revenue of €468 million in 2018. Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more, please visit: www.cegedim.com
And follow Cegedim on Twitter: @CegedimGroup, LinkedIn and Facebook.
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Aude Balleydier
Cegedim
Media Relations
and Communications Manager
Tel.: +33 (0)1 49 09 68 81
[email protected] |
Jan Eryk Umiastowski
Cegedim
Chief Investment Officer
and head of Investor Relations
Tel.: +33 (0)1 49 09 33 36
[email protected] |
Agnès Gilbert
For Madis Phileo
Media Relations
Tel: +33 (0)6 84 61 30 71
[email protected] |
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