Group Press Releases
Sage announces sale of US Healthcare division to Vista Equity Partners
22 September 2011
The Sage Group plc (”Sage”) today announces that it has reached a definitive agreement to sell Sage Software Healthcare LLC (”Sage Healthcare”), its subsidiary offering practice management and electronic health record solutions to US physician practices, to Vista Equity Partners. The cash proceeds for the sale are $320m (£205m*) and the sale is expected to complete in November 2011. Sage intends to return all of these proceeds to shareholders through a share buyback programme.
Sage Healthcare’s reported revenue for the half year ended 31 March 2011# was £72m with EBITA† of £10m.
Guy Berruyer, Sage Chief Executive, commented: