CompuGROUP Holding AG's sales rose to EUR 75.1 million compared to EUR 46.6 million for the corresponding period of 2008, an increase of 61% including organic growth of 20%. Earnings before interest, taxes, depreciation and amortisation (EBITDA) at the Koblenz-based firm were up from EUR 11.1 million to EUR 13.2 million, a rise of 19%. Operative cash flow also grew to EUR 10.7 million (Q2/2008: EUR 0). The main reason for this pleasing set of results is the strong growth delivered by the company's HPS (Health Provider Services) segment. The HCS (Health Connectivity Services) segment is also displaying a pleasingly high degree of stability. This is an area in which CompuGROUP provides intelligent software solutions delivering efficiency increases of 15% or more within the health system.
Cooperation with one of the largest private health insurance companies in Turkey underwent significant expansion during the reporting period with a 3-year contract being signed. CompuGROUP also won a contract from the Ministry of Health in Malaysia for the implementation of digital information systems in Bintulu Hospital. In addition to this, the company is continuing to expand its international presence, recent evidence of this coming in the form of its acquisition of a majority stakeholding in the Italian company FimeSan SpA.
Frank Gotthardt, CEO of CompuGROUP Holding AG, expressed his pleasure at the results. "We are delighted with the second quarter results, although we still need to achieve a significant improvement in the profitability of some recent acquisitions in order to bring them up to the level achieved by comparable companies within the group."
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About CompuGROUP Holding AG
CompuGROUP is one of the leading e-health companies worldwide. Its software products, designed to support all medical and organisational activities in doctors' offices and hospitals, its information services for all parties involved in the healthcare system and its web-based personal health records contribute towards safer and more efficient healthcare. The services of CompuGROUP are based on its unique customer base of around 326,000 doctors, dentists, hospitals and networks as well as other service providers. CompuGROUP is the e-Health company with the biggest coverage among e-health service providers worldwide. The company operates in 14 European countries, Malaysia, Saudi Arabia, South Africa and in the USA and currently employs around 2,800 people.