Acquisition Timetable Update
Source: RNS
1 November 2022
EMIS Group plc
("EMIS" or "the Group")
Acquisition Timetable Update
Acquisition Timetable Update
On 17 June 2022, the Boards of Bidco and EMIS announced that they had reached agreement on the terms of a recommended all cash offer pursuant to which Bidco, an affiliate of Optum UK and a wholly-owned subsidiary of UnitedHealth Group, will acquire the entire issued and to be issued ordinary share capital of EMIS (the "Acquisition"). The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").
On 9 August 2022, EMIS announced that at the Court Meeting to consider the Scheme and the General Meeting to consider the Special Resolution relating to the Acquisition, all resolutions were approved by the requisite majorities. EMIS further announced that a notification had been made and accepted under the NS&I Act and that the Secretary of State had confirmed that no further action will be taken in relation to the Acquisition.
As regards the remaining substantive regulatory condition to the Acquisition, Bidco and EMIS are in the process of finalising a Merger Notice with the Competition and Markets Authority ("CMA"), preliminary to a Phase One investigation of the Acquisition. As a result, unless the relevant condition is waived by Bidco, EMIS now expects the Scheme to become Effective in the first quarter of 2023.
Unless otherwise defined, all capitalised terms in this announcement shall have the same meaning given to them in the Scheme Document.
For further information, contact:
EMIS Group plc Tel: 0330 024 1269
Andy Thorburn, CEO
Peter Southby, CFO
@EMISGroup
Numis Securities Limited (Nominated Adviser & Broker) Tel: 020 7260 1000
Joshua Hughes/Simon Willis/James Black
MHP Communications Tel: 020 3128 8567
Reg Hoare/Ollie Hoare/Matthew Taylor/Pauline Guenot emis@mhpc.com
Information for investors can be found on the Group's website at www.emisgroupplc.com/investors.
Notes to Editors
EMIS Group has grown to become a UK leader in connected healthcare software and systems. Its solutions are widely used across a number of major UK healthcare settings. EMIS Group's aim is to join up healthcare through innovative technology, helping to deliver better health outcomes to the UK population, supporting longer and healthier lives.
EMIS Group has two core business segments: EMIS Health and EMIS Enterprise.
EMIS Health is a supplier of innovative integrated care technology to the NHS, including primary, community, acute and social care.
EMIS Enterprise is focussed on growth in the business-to-business technology sector within the healthcare market, including management of medicines, partner businesses, patient-facing services, data and analytics, and research and life sciences.
LEI: 213800K474ZZK76NX913
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