The payment for all debt and equity in the entities acquired is expected to total $44 million in cash plus an additional variable consideration over the next 2 years of up to $21 million depending primarily on the continued growth in number of users. The initial purchase price will be financed through cash at hand and new long-term debt. The shares of Visionary Healthware Group will be held by CompuGROUP Holding USA, Inc., a wholly-owned entity of CompuGroup Medical AG. The closing of the transaction was scheduled for September 1st 2010.
With this acquisition, CompuGroup Medical AG continues its strategy and growth based on the greatest coverage among healthcare providers (physicians, dentists, hospitals etc.) worldwide. The company, one of the leading global providers of eHealth solutions, has this year placed particular emphasis on increasing its presence in the United States and Frank Gotthardt, Chairman of the Board of CompuGroup Medical AG, stated: "The US is a core market for CompuGroup Medical. With the network of doctors now served through Noteworthy and Visionary we are quickly moving up the ranks of healthcare IT companies in USA. I am particularly excited about this accelerating development and l repeat our commitment to do everything in our power to make the United States a key future market for CompuGroup Medical."
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About CompuGroup Medical AG
CompuGroup Medical is one of the leading e-health companies worldwide. Its software products, designed to support all medical and organizational activities in doctors’ offices and hospitals, its information services for all parties involved in the healthcare system and its web-based personal health records contribute towards safer and more efficient healthcare. The services of CompuGroup Medical are based on its unique customer base of around 360,000 doctors, dentists, hospitals and networks as well as other service providers. CompuGroup Medical is the e-Health company with one of the biggest coverage among e-health service providers worldwide. The company operates in 14 European countries as well as in Malaysia, Saudi Arabia, South Africa and in the USA and currently employs around 2,800 people.