By NZPA
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Thursday 17th October 2002 |
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The $2.5 million purchase would be partly based in scrip priced at $1.79, with the rest to be made up in cash, shares or convertible notes to be determined at a later stage, the company said.
Advanced Healthcare is Software of Excellence's second British acquisition. It acquired the DSD and Clockwork business units from Henry Schein Technologies in December 2000.
Chief executive Paul Weatherly said British statistics showed SOE had gained business with more than half of the new dental clinics in Britain in the last 12 months.
"The acquisition of Advanced Healthcare is expected to significantly improve the profitability of Software of Excellence's UK business, once we have absorbed the initial costs of integrating Advanced Healthcare's operation into our own."
Mr Weatherly said the addition of Advanced Healthcare's software products was very complementary, because they specialised in National Health Service treatments.
SOE's EXACT software was focused on private and mixed practices, dental schools and public health services.
As part of the purchase arrangements the managing director of the Advanced Healthcare group, Keith Hemingway, would become chairman of Software of Excellence's wholly-owned British subsidiary.
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