CompuGROUP Holding AG, one of the world's leading e-health providers, achieved a 61% increase in sales in the second quarter of 2009 compared with the previous year.
CompuGROUP Holding AG offers the greatest coverage of any service provider in the field (doctors, dentists, clinics etc.) and was able to continue the successful pursuit of its growth strategy in the second quarter of the current year. The company's sales rose to EUR 75.1 million compared to EUR 46.6 million for the corresponding period of 2008, an increase of 61% including organic growth of 20%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) at the Koblenz-based firm were up from EUR 11.1 million to EUR 13.2 million, a rise of 19%. Operative cash flow also grew to EUR 10.7 million (Q2/2008: EUR 0).
The main reason for this pleasing set of results is the strong growth delivered by the company's HPS (Health Provider Services) segment. The HCS (Health Connectivity Ser-vices) segment is also displaying a pleasingly high degree of stability. This is an area in which CompuGROUP provides intelligent software solutions delivering efficiency in-creases of 15% or more within the health system.
Cooperation with one of the largest private health insurance companies in Turkey un-derwent significant expansion during the reporting period with a 3-year contract being signed. CompuGROUP also won a contract from the Ministry of Health in Malaysia for the implementation of digital information systems in Bintulu Hospital. In addition to this, the company is continuing to expand its international presence, recent evidence of this coming in the form of its acquisition of a majority stakeholding in the Italian com-pany FimeSan SpA.
Frank Gotthardt, CEO of CompuGROUP Holding AG, expressed his pleasure at the re-sults. "We are delighted with the second quarter results, although we still need to achieve a significant improvement in the profitability of some recent acquisitions in order to bring them up to the level achieved by comparable companies within the group."
CompuGROUP Holding AG offers the greatest coverage of any service provider in the field (doctors, dentists, clinics etc.) and was able to continue the successful pursuit of its growth strategy in the second quarter of the current year. The company's sales rose to EUR 75.1 million compared to EUR 46.6 million for the corresponding period of 2008, an increase of 61% including organic growth of 20%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) at the Koblenz-based firm were up from EUR 11.1 million to EUR 13.2 million, a rise of 19%. Operative cash flow also grew to EUR 10.7 million (Q2/2008: EUR 0).
The main reason for this pleasing set of results is the strong growth delivered by the company's HPS (Health Provider Services) segment. The HCS (Health Connectivity Ser-vices) segment is also displaying a pleasingly high degree of stability. This is an area in which CompuGROUP provides intelligent software solutions delivering efficiency in-creases of 15% or more within the health system.
Cooperation with one of the largest private health insurance companies in Turkey un-derwent significant expansion during the reporting period with a 3-year contract being signed. CompuGROUP also won a contract from the Ministry of Health in Malaysia for the implementation of digital information systems in Bintulu Hospital. In addition to this, the company is continuing to expand its international presence, recent evidence of this coming in the form of its acquisition of a majority stakeholding in the Italian com-pany FimeSan SpA.
Frank Gotthardt, CEO of CompuGROUP Holding AG, expressed his pleasure at the re-sults. "We are delighted with the second quarter results, although we still need to achieve a significant improvement in the profitability of some recent acquisitions in order to bring them up to the level achieved by comparable companies within the group."
