AGFA to Sell Part of HealthCare IT Business to Dedalus Holding
By Medimaging International staff writers
30 Dec 2019
The Agfa-Gevaert Group (Mortsel, Belgium) has entered into exclusive negotiations to sell a part of its HealthCare IT business to Dedalus Holding S.p.A. (Florence, Italy). The HealthCare IT business consists of Healthcare Information Solutions and Integrated Care activities, as well as Imaging IT activities, all of which are tightly integrated into Healthcare Information Solutions activities, mainly in the DACH region, France and Brazil.
The Agfa-Gevaert Group develops, manufactures and distributes an extensive range of analogue and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications. Dedalus is an international industrial group in the healthcare software industry specialized in the segment of diagnostic and clinical management solutions (HCIS), GPs and Primary care management, Interoperability and Population health management.
Dedalus will acquire 100% of the Agfa-Gevaert Group’s HealthCare IT business at an enterprise value of Euro 975 million, subject to regular working capital and net debt adjustments. The proposed transaction is subject to customary employees’ consultations, regulatory approvals and closing conditions.
“The expected sale of the Business, which generates around Euro 260 million of full year revenues, will represent another milestone in our transformation process. We are looking forward to this important step. We believe that under Dedalus Holding S.p.A.’s ownership, the Business will continue to develop into a leading pan-European player in the HealthCare IT market,” said Christian Reinaudo, CEO of the Agfa-Gevaert Group. “Going forward, Agfa HealthCare will focus on Imaging IT Solutions, continuing on its strategic track to deliver superior value to its customers, led by its flagship Enterprise Imaging platform. It is our ambition to grow revenues and raise the EBITDA margin performance over time from today’s mid-single digit percentage of revenues to a double digit level.”
Dedalus Holding S.p.A