Listed health industry integrator and e-business solutions provider, Working Systems Solutions, has acquired rival Bourke Johnston Systems (BJS) Australia in a $2.6 million deal that it claims makes it the largest hospital systems provider in Australia.
Working Systems' chief executive officer John Wreford estimated the company's forecast 2001 revenues would grow by "about 16 per cent, or about $1.5 million", as a result of the buy out. "We anticipate an additional lift to our other e-business revenues and earnings as a result of our stronger presence in the eastern markets arising from our new Melbourne-based capacity," Wreford said.
The combination of Working Systems' strong public hospital client base in Western Australia and South Australia combines well with the extensive, mainly eastern-based private hospital and day surgery centre client base of BJS, said Wreford.
According to BJS's managing director Bruce Bourke, the company had sought an injection of investment funds to continue development of its proprietary software systems and to invest in "new technologies and systems in the e-health area".
"We believe the sale now ensures that we will be able to deliver these e-health systems to our clients," Bourke said.
BJS will be paid via $1.3 million of 50-cent shares over a 24-month period and a further $1.3 million in cash over the next 12 months.