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Tuesday 12 January 2021

Civica enhances healthcare proposition with MBC deal

Civica logoCivica has entered into an agreement to acquire Amersham-based medical billing solution provider Thelma-EU Ltd, trading as Medical Billing and Collection (MBC), from ASX-listed ICSGlobal Ltd (ICS).

The deal was announced by ICS at the end of December, with the company set to receive £12.35m for the shares in its UK subsidiary, which is its primary operating business. 

Founded in 1992, MBC currently works with around 1,500 consultants spread across groups, clinics and hospitals in the independent healthcare sector. It offers e-billing of medical insurers and patients, with collection via a client self-pay platform. Its cloud software is designed to facilitate reporting for consultants to better manage their practice.

MBC achieved revenue of £3.3m in the year ending 30 June 2020, up 3.6% on the previous year, and profit before tax was up 29% to £958k. The company has been impacted by the pandemic, with private hospitals seconded to the NHS during the crisis and many private patients unable to receive treatment, but it continued to trade profitably and business has subsequently returned to pre-COVID-19 levels.

The acquisition will broaden Civica's health and care proposition adding new medical billing and collection capability to its existing software business. Completion of the sale is expected to take place in late February 2021. It follows the acquisitions of Equiniti’s HR and payroll business in December and Agylia and Parago Software in November.

Posted by: Dale Peters

Tags: acquisition   healthcare   billing  

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