ExtraMed | Alcidion Group
finnCap Cavendish, part of finnCap Group plc, has today announced that it has closed a deal for the sale of ExtraMed, a leading UK patient flow software company, to healthtech provider Alcidion Group.
This acquisition will make Alcidion a leading provider of patient flow and command centre communications in the UK healthtech market. Alcidion already works with more than 40 hospitals in the UK via its suite of Miya products. ExtraMed currently has nine clients in the NHS and is a partner in a 10-year Digital Control Centre project at Salford Royal NHS Foundation Trust, part of the Northern Care Alliance.
While both companies will initially continue business as usual following the deal, the interchange of knowledge across the organisations is forecast to yield rapidly enhanced offerings for new and existing NHS customers. Existing ExtraMed clients are expected to benefit from Alcidion’s experience of developing and delivering technological solutions to the challenges of patient care, while current Alcidion customers can now benefit from ExtraMed’s expertise in patient flow.
Alcidion will purchase 100% of the shares in ExtraMed, a wholly owned subsidiary of bedside communication and entertainment unit provider Hospedia. All staff, customers, and assets are included in the acquisition agreement.
Anthony Platt, Partner at finnCap Cavendish, said: “We are delighted to have managed this deal, which should yield substantial benefits for NHS hospitals and their patients at a critical time for the UK healthcare sector. It is a great acquisition for Alcidion and by facilitating the sharing of ideas and experience between ExtraMed and Alcidion, will hopefully lead to improved patient management software tools and the development of technology to manage patient care more effectively.”
Susan Say, Managing Director of ExtraMed, added: “Our customers will continue to receive the same high standard of service as our team joins the wider Alcidion family. We look forward to expanding what we can do for our existing customers, strengthening our bond with the Northern Care Alliance, as well as other hospitals in the NHS.”
‘finnCapCavendish have great international connections and were able to bring an Australian buyer in the patient flow software sector to us. Their tenacity and understanding of the deal dynamics enabled us to run a smooth process and sell Extramed to a strategic buyer.’
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