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You are here: Financial Letchworth company snapped up by Capita Group for £23m

Letchworth company snapped up by Capita Group for £23m

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The Capita Group Plc has acquired McKeown Software Limited, trading as Letchworth-based iSoft Business Solutions, for £23 million on a cash-free, debt-free basis.

iSoft Business Solutions, a subsidiary of iSOFT Group, is a leading provider of financial accounting and purchasing software to the public sector, including 60 per cent of English NHS trusts and many other local government, not-for-profit and housing association organisations.

The acquisition adds further depth and breadth of expertise to Capita's existing services for the health market, which includes running the NHS Choices programme, medical screening firm Premier Medical Group, health informatics firm CHKS, and the administration of both the Information Standard for healthcare information and the payment of national health patient fees to dentists on behalf of NHS BSA.

iSoft Business Solutions made a pro forma operating profit for its financial year to June 30 of £3.2m on turnover of £17.7m.

Paul Pindar, chief executive of The Capita Group Plc said: “iSoft Business Solutions, the leading finance system in the NHS market place, broadens Capita's penetration in the NHS market, both in the number of client relationships and the depth of our product offering.

“iSoft Business Solutions' systems and expertise are also relevant to clients in our other core markets.”

iSoft Business Solutions, which will be known as I B Solutions after the acquisition, has around 140 staff, mainly in Letchworth and Dublin.

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