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CBay - Completes acquisition

September 2007

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CBAY
  • Price:
  • 100p
CBay has confirmed its first acquisition as we intimated in the July issue. The business being acquired is AMSplus, an established US-based provider of medical billing and practice management services. It is paying an initial US$9.4m plus a performance-related earn-out of up to US$3.1m, payable after two years. AMSplus has approximately 185 employees based in offices located in six cities across North Eastern USA. In the year ending 28 February 2007, it had sales of $13.8m and made a pretax profit of $0.75m and therefore brings about a step change in the group's patient financial services business. As we said in July, the intention is that by more or less immediately relocating all non-customer facing aspects of the business to I ...

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