Leeds-based medical software group EMIS has sold its loss-making Canadian subsidiary, EMIS Inc, to QHR Technologies for £250,000.
EMIS said the cash deal is subject to obtaining consents and end-user agreements being transferred to QHR.
EMIS Inc, which supplies software to healthcare organisations in Canada, made a pre-tax loss of £1.96m for the year to December 31.
The book value of the assets being sold was £200,000 at the end of December 2010.
Once formal completion has taken place, the group’s exit from its Canadian activities will be complete.
For the year to December 2011, the previously notified fair value losses of £1.1m are now expected to amount to £900,000. The impairment charge of £1.4m is unchanged.
Last month, EMIS marked its first year as a listed company with a strong rise in both profits and sales as more GPs adopt its software.
EMIS is the UK’s leading supplier of clinical software and related services to GPs and other healthcare practitioners.
Source:http://www.yorkshirepost.co.uk/business/business-news/software_group_sells_subsidiary_1_3324219
