31st Jan 2005 15:45
Ascribe plc31 January 2005 Press Release 31 January 2005 Ascribe plc ("Ascribe" or "the Group") Trading Update Ascribe (AIM:ASP), the health IT group focusing on medicines management,announces that since its AIM flotation on 17 December 2004 and the recentacquisition of Protechnic-Exeter, trading is in line with managementexpectations. With recurring maintenance contract revenues in excess of 60 per cent ofhistorical sales, a healthy order book and a high level of tendering activity -both in the UK and overseas - Ascribe believes it will continue to perform inline with expectations in the second half of the financial year, ending on 30June 2005. Ascribe's Pharmacy Division has won four new contracts since flotation, with acombined capital and first year maintenance income value in excess of £375,000. These contracts will run for between three and five years and will include thesale of Ascribe pharmacy software to Kettering General Hospitals NHS Trust andHuddersfield and Calderdale NHS Trust, together with ward-based medicinesmanagement software to a Scottish-based customer. In addition, Ascribe's Community Care division (including Mental HealthServices) is upgrading its ePEX product, a shared information system for healthand social care, currently deployed in 35 local health communities across GreatBritain and Ireland. A major new messaging component has been added to thesoftware which will enable users to interface with other systems used in localgovernment departments and the new Child Trusts, thereby extending its coverage.This software is expected to be used later in the year for connection to theNational NHS Data Spine (the new national network and repository for PatientRecord Management). The Ascribe software has been implemented in several new clinical areas over thelast year, to include single assessment, electronic care management acrosshealth and social care, and substance misuse services. This has resulted in fargreater use of the system by health care professionals in the community, and inturn, has brought in significant new revenue through increased sales of end userlicenses. Stephen Critchlow, Chairman and Chief Executive of Ascribe, said: "Theperformance of the Group after the acquisition of Protechnic-Exeter is meetingall our expectations. The new combined team is working on a group sales andproduct strategy that will contribute to our long-term growth. "This success comes from delivering medicines management software that meets thereal needs of our customers today. We believe the firm order book, our loyaluser base, and a clear sales and product strategy will deliver sustainablegrowth." The interim results for the period to 31 December 2004 are expected to beannounced on Wednesday 16 March 2005. - Ends - For further information: Ascribe plc Stephen Critchlow, Chairman and Chief Executive Tel: +44(0) 161 280 [email protected] Jeremy Lee, Group Finance [email protected] www.ascribe.com Seymour Pierce Limited Mark Percy Tel: +44(0) 20 7107 [email protected] www.seymourpierce.com Media enquiries: Abchurch Henry Harrison-Topham / Alex Tweed Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to editors Ascribe is a health IT group focusing on medicines management through thedevelopment and marketing of software solutions supporting patient, clinical andbusiness processes to the international healthcare market. The Group consistsof ASC Computer Software Limited ("ASC"), a software supplier to hospitalpharmacy departments internationally and Protechnic Exeter Limited, a providerof software solutions to the primary healthcare market. Ascribe joined AIM on17 December 2004 raising £5m before expenses. The software produced by Ascribe addresses the Audit Commission report "ASpoonful of Sugar" published in 2001, which identified potentially up to 1,200lives and £500 million per year from certain medication errors in UK hospitalsalone could be saved using clinical information systems. Ascribe's systemenables pharmacists to store information about the patients they treat and usethis information to assist in their decision-making. The system also integrateswith stock control procedures. The latest web based product has further enabledtechnology to link the information between customers building a solution wherethe risk of the above medication errors can be reduced. For further information, please visit www.ascribe.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ASP.L