Cegedim buys medical software firm

Cegedim Romania market research firm took over Pharmec Healthcare Software, a software firm that was previously part of Pluriva, an IT company controlled by Tudorache family, a stakeholder in Montero pharma group.

The value of the deal has not been disclosed, but in line with ZF estimates the deal would be worth 1-1.5m euros, by applying a 1.15 multiple to turnover. According to Georgian Roşu, Pluriva general manager and a minority stakeholder, in 2010 the medical software unit reached 1m-euro turnover, out of the firm's 4m-euro total figure.
"We considered we've reached maturity, so that only a Western partner could lead the firm further," said Georgian Roşu.
The deal marks Cegedim's entrance on the medical software market, by providing applications to physicians and pharmacies, while so far the company's activity has focused on research and data related to the drug market.
"The acquisition is a major step for Cegedim's activity in Romania," said Petru Crăciun, general manager of Cegedim Romania.