Nordhealth completes the acquisition of Aspit AS
Espoo, Finland, 2 June 2021: Nordhealth AS (the "Company" or "Nordhealth"), a leading provider of cloud-based Practice Management Software ("PMS") for veterinarians and therapists, today completed the acquisition of 100% of the shares outstanding in Aspit AS ("Aspit") for a cash consideration of approximately NOK 400 million to strengthen the Company’s market position and product offering.
Aspit is a leading supplier of electronic patient record systems (EHR) and IT operations to the healthcare sector in Norway, particularly to the chiropractor/physiotherapy and psychiatry segments. More than 6,000 physical therapists, psychologists and psychiatrists use Aspit’s cloud-based Software as a Service (“SaaS”) products. Nordhealth is a pioneer and global leader in providing SaaS-solutions for healthcare practitioners, helping healthcare practitioners, improve care, save time and grow their business. Combining the resources, technology and teams of both companies will allow for faster innovation, new feature development and a wider offering for existing and future customers.
“Aspit has a strong presence in the Norwegian market, and there are numerous synergies between the companies that will help us to deliver even better products and services to our customers. We welcome our new Norwegian colleagues and look forward to building a dynamic and future-oriented organization together,” said Charles MacBain, CEO of Nordhealth, adding “Nordhealth brings together everything that’s required to manage a healthcare business digitally and the acquisition of Aspit is well-aligned with our expansion strategy of acquisitions and organic growth.”
Leading market positions and long-term public healthcare contract
Aspit's electronic patient record systems have established leading positions within the psychotherapy market with the product Psykbase, and the physiotherapy markets with the product Physica. In 2018, the company was granted a five-year national licensing contract with the Directorate for e-Health in Norway, which led to the launch of new solutions such as Envision and Capture, that allow clinicians to send and receive medical images, video and documents. Aspit also provides IT-operational services to several municipalities.
“It is a privilege to partner with Nordhealth, after spending the past twenty years building Aspit together with great colleagues and customers. Nordhealth shares the values that have been important to our success, such as healthy business ethics, long-term planning, the willingness to innovate and closeness to our customers. Together we will strengthen Norwegian and Nordic eHealth well into the future,” said CEO of Aspit, Dag Helge Haslekås.
Aspit is headquartered in Seljord, Telemark, with offices in Oslo and Arendal, and has 55 employees. The company had approximately 6,000 users and had NOK 67 million in revenue in 2020. The acquisition is subject to customary closing balance sheet adjustments. Selling shareholders include, among others, Kistefos AS, founders and senior management.
For further information, please contact:
Charles MacBain, CEO Nordhealth
charles.macbain@nordhealth.com
+44 75 3903 2200
Valter Pasanen, CFO Nordhealth
+358 50 560 9286
Dag Helge Haslekås, CEO Aspit
+47 950 43 930
About Nordhealth
Nordhealth is a cloud-based healthcare SaaS company whose mission is to redefine digital healthcare. The Company’s products empower healthcare professionals to improve patient care, increase efficiency and expand their business. Since 2005, the Company has acquired and built cloud-based software for veterinary and therapeutic professionals and their patients, and now serves more than 30,000 professionals across 7,000 clinics and hospitals located in over 25 countries. Headquartered in Espoo, Finland, Nordhealth has a solid footprint in the Nordic region and a growing presence internationally, with more than 140 employees working either remotely or from offices (collaboration hubs), serving a global customer base. Visit the company’s website at nordhealth.com.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.