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Thursday 09 September 2021

EMIS well positioned for growth

EMIS Group logoEMIS Group had a positive first half of the year, with revenue, recurring revenue and adjusted operating profit all coming in ahead of management expectations.

Group revenue at the healthcare software and systems provider was up 7% to £83.5m (2020 H1: £78.1m) as operational activities returned to business as usual following COVID-19 disruption. Recurring revenue improved by 4% to £65.8m (2020 H1: £63.5m) and represented 79% of the Group's total revenue for the period. Adjusted operating profit for the period was £20.0m (2020 H1: £17.8m).

The EMIS Health division achieved minor growth to £54.3m (H1 2020: £54.0m); however, the comparative period included higher than usual hardware sales stemming from NHS services shifting rapidly to mobile working during the pandemic. Recurring revenue increased by 3% and adjusted operating profit improved by 5% to £12.5m (2020 H1: £11.9m).

Revenue for EMIS Enterprise, the Group's business-to-business division, increased by 21% to £29.3m (2020 H1: £24.1m), with recurring revenue up by 6%. During the comparative period the division was impacted by patients making fewer visits to community pharmacies during lockdowns. Performance was boosted by its Outcomes4Health solution (part of the Pinnacle business acquired last year), which is supporting the COVID-19 vaccination roll-out in England.

The company has made significant investments in its digital, analytics and connected healthcare propositions. It has made good progress with its EMIS-X Analytics platform, which is being used by five global pharmaceutical companies and to support research into COVID-19 (see EMIS: positive progress in a challenging year), and it is on track to complete the next stage of EMIS-X this year through deployment of the FHIR (Fast Healthcare Interoperability Resource) layer.

EMIS will be glad to see the return of a more normal pattern of business and it is well placed to benefit from the Government’s connected health strategy. The growing focus on Integrated Care Systems (ICSs), which we discussed in our recent report, is seen as a key opportunity for many suppliers, but the investment EMIS has made in analytics and interoperability, coupled with its market strength puts it in a strong position to benefit from this strategy to join up the NHS, local government, and other healthcare organisations.

Posted by: Dale Peters at 09:38

Tags: results   nhs   interoperability   H1   healthcare   ICS   fhir  

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