RSM and Blake Morgan have advised on the sale of Pinnacle Health Partnership LLP (PHP) and Pinnacle Systems Management Limited (PSM) to AIM-listed EMIS Group plc, which specialises in healthcare software.
PHP was founded by Gary Warner and Kevin Noble on the Isle of Wight in 2009 to develop software solutions for the pharmacy sector with PSM leading the software development to support effective healthcare commissioning.
Together, PHP and PSM save healthcare organisations substantial sums by enabling service providers to capture clinical and care information as well as billing automatically and integrating with other systems to provide new ways of providing care.
Gary and Kevin felt that partnering with EMIS to provide a wider range of integrated services would benefit the pharmacy sector and patients. They were advised on the sale by Clodagh Tunney and Mark Colling from RSM with Stephen Archibald, James Hawkeswood and Dan Conway leading the Blake Morgan team who provided legal advice.
’There has been a strong M&A market for SAAS businesses in recent years and we are delighted to have been able to use our experience in the sector to help Gary, Kevin and the team deliver a deal that not only meets their aspirations but also provides an excellent partner to support the continued growth of the business. We wish them all well as they move into this new and exciting phase for the business.’
Gary Warner, founder of PHP, who remains a partner and director in the new structure along with Kevin Noble, said:
’Having built this business up over the last ten years, Kevin and I are delighted to become part of the EMIS Group, who share our approach to the market and I look forward to seeing our businesses thrive together. We would like to extend our thanks to Clodagh and Stephen and their teams for their hard work and professionalism in getting the deal over the line; their advice more than paid for itself during the negotiations. We would strongly recommend their services.’
Stephen Archibald, corporate partner at Blake Morgan, said:
‘We are very pleased to have advised on this significant, South-Coast deal. Through their determination and hard-work, Gary, Kevin and their team have built an impressive, market-leading healthcare technology business and we wish them all the very best in their future partnership with EMIS Group.’