Acquisition of financial systems specialist for the NHS strengthens market position in a changing health care sector
Civica, a market leader in specialist systems and business process services that help organisations to achieve a more cost-efficient way of working, has announced that Civica UK Ltd, the company’s wholly owned subsidiary, has acquired PSCAL Limited (“PSCAL”).
PSCAL specialises in financial management software and related services for the National Health Service. It is the leading supplier of commissioning, contract and costing software, supplying more than 200 primary and secondary health care organisations.
The acquisition extends Civica’s presence and expertise in this market at a time when effective financial management is increasingly critical for health care providers who face rising demand for services set against increased spending constraints and significant changes in the procurement, commissioning and delivery of services.
Simon Downing, Civica chief executive, said, “I am delighted to welcome PSCAL to the Group. The company’s customer base, product set and specialist insight extend our capabilities at a time of significant structural, demographic and financial change in the health sector. The combination of Civica and PSCAL is ideally placed to help customers transform financial and service level management.”
Lizo Ngqobongwana, director at PSCAL, said, “The acquisition is an exciting step for our customers, employees and partners. From GP commissioning and payment-by-results to patient level costing and service line reporting, timely and accurate financial management has never been more important in the NHS, and I look forward to building on our respective strengths and market leadership in order to deliver increasing value to customers.”
Regent Partners LLP acted as exclusive Corporate Finance advisor to PSCAL