Image may be NSFW.
Clik here to view.
EMIS has confirmed the disposal of its small, loss-making Canadian subsidiary signaling the end of its activities in Canada. QHR Technologies is buying the business, which made a pre-tax loss of £1.96m last year, for £0.25m in cash. EMIS now expects fair value losses from the subsidiary in FY11 to be slightly better than expected at £0.9m. The anticipated £1.4m impairment charge remains unchanged.
EMIS struggled to gain traction in Canada in part because of the provincial healthcare system. It’s good to see the sale of the subsidiary completed, enabling the management to focus on the rest of the business, which is dominated by the UK NHS market.
