Mediware (MEDW) to Acquire CMS Assets from Cobbler ICT Services BV in $2.2M Deal

March 15, 2012 12:04 PM EDT
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Mediware Information Systems, Inc. (Nasdaq: MEDW) today announced that it has signed an agreement with Cobbler ICT Services BV to acquire the assets associated with the Cyto Management System (CMS), a comprehensive chemotherapy management software solution currently deployed in Holland and Belgium. The CMS software was designed specifically to track patients, manage highly individualized medication-based treatment plans, help control costs and report outcomes associated with cancer therapies performed in hospitals and oncology centers. The software utilizes a multilingual language platform that makes the product easy to configure for new international markets. The transaction is expected to cost Mediware €1.7 million ($2.2 million USD) and close in mid-April.

Mediware will continue marketing the software through existing European distribution agreements under Mediware's international brand and open a regional office in Holland to manage European sales and services. The software will also be made available immediately to the UK and Irish markets to capitalize on the dominant position of the company's UK-based JAC medication management product suite, which is used by more than 50 percent of UK hospitals. Additional geographic expansion will occur as opportunities arise.

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