Outsourcer Civica has acquired health care industry software provider Coldharbour Systems to help expand its expansion in the healthcare sector.
Coldharbour Systems, based in Bristol, specialises in application software and related services for the UK care sector. It is a provider of financial, accounting, staff and care management systems, with more than 160 customers across residential, community, and nursery healthcare services.
The combined product and service portfolio acquired will enable Civica to "offer broader solutions to the healthcare sector including cloud and managed services", said the outsourcer.
Simon Downing, chief executive of Civica, said: “Coldharbour brings a market-leading product set and an excellent reputation, and the combined business is very well placed to respond to the needs of customers across the healthcare sector.”
The two companies say they already have a successful record of working together at major customers, including The Priory, RVS and Four Seasons Healthcare, with Civica’s electronic document management software a key component of Coldharbour’s e-compliance solution.
TechMarketView analyst Tola Sargeant said of the deal: "Financially, Coldharbour appears to be a strong business. Its turnover has been around £6.4 million for the last two financial years - some 86 percent of which is recurring - with profit before tax of £1.1 million for full year 2013.
"It also has over £6 million of cash in the bank and 80 employees. It will make a sizeable addition to Civica’s growing UK healthcare business."
The value of the acquisition has not been disclosed.
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