Contract Wins and Trading Update

Ideagen plc

("Ideagen" or the "Group")

Contract Wins and Trading Update

Ideagen PLC (AIM: IDEA), a leading supplier of Information Management software to highly regulated industries, announces that trading in the second half of the current financial year has continued strongly with a significant increase in contract wins from the commercial sector.

Contract Wins

Whilst the first half of the current financial year delivered strong revenue growth due to contract wins with the NHS, the second half of the year has witnessed an increase in the number and value of new contracts from commercial customers. Of particular note are new contract wins at RWE, a top five European energy supplier, Achmea, the Netherlands leading insurance company and BTG, a growing international specialist healthcare company worth a combined value of approximately £500k.

Strengthening of Management and Sales Teams

The integration of Pentana is now complete and the Group has made a number of non-board management changes. Ken Ebbage, formerly Chief Executive of Pentana, has been appointed Managing Director, Product and Services for the Group's Risk and Compliance business and Terry Perkins, formerly Services Director of Pentana, has been appointed Product Director for Risk and Compliance. In addition, the company has recruited additional sales resource into the commercial team in order to capture the growing opportunity within this market segment.

Outlook

The Company expects the rest of the second half of the current financial year to benefit from the continued increase in commercial activities in addition to further NHS contract wins. In particular, Guys and St Thomas' NHS foundation trust is now the Group's latest NHS customer and we expect to announce further significant NHS contracts over the next two months.

David Hornsby, Chief Executive, commented: "I am delighted with progress so far in the second half. We are seeing increased momentum in our commercial business and the NHS remains a strong market for the Group. I am particularly pleased with the rapid integration of Pentana into the Group which has provided a great platform for profitable growth.

The Company therefore continues to trade in line with market expectations and looks forward to providing a further update in May following the end of the current financial period."