A leading UK healthcare software supplier has been sold in a deal worth up to £9m advised by Colbalt Corporate Finance.
The buyer Allocate Software purchased the UK healthcare software-as-a-service (SaaS) business Dynamic Change, which was founded in 2001 and is based in Keele, Staffordshire.
Dynamic Change is a provider of regulatory compliance, corporate governance, risk and performance management software for the UK healthcare market.
The company is a supplier to the National Health Service (NHS) and for the last three years has grown subscription revenues at a compound rate of well over 40 per cent. As a result, around 120 individual NHS trusts now use the software, in addition to some private healthcare providers and other users.
The software provides NHS boards and management teams with information to plan, manage and report on objectives, monitor and manage regulatory compliance and financial targets.
The transaction gives Allocate an entry into the regulatory compliance and business intelligence market for healthcare and also a SaaS software platform.
Dynamic Change had revenues in the year to 31 March 2010 of £3.2m.