ANS Acquires Medifile

ANS has announced that it has agreed to acquire for cash the Intellectual Property and Support Contract assets of Medfile Ltd, a highly successful UK supplier of web solutions and applications to the National Health Service.

Under the terms of the agreement, the consideration is for £100,000, of which £75,000 will be payable on completion and the balance of £25,000 contingent on the first year's performance. The company name, web site and telephone number are also included in the transaction. The Board believes that today's acquisition will provide additional revenues for ANS, which in turn will result in increased profitability for the Company.

The new customer base of 25 NHS trusts will provide ANS with additional revenue opportunities and a new range of products including: Fuse, which enables IT professionals to build high quality websites quickly and effectively; and FOI Manager, a web solution to meet the demands of the Freedom of Information Act 2000. These new products will also create further opportunities within ANS's existing customer base.

The enlarged support contact base, as a result of the acquisition, is expected to make a contribution to gross profits in the region of £50,000 per annum, yet will not require the employment of additional staff. On completion of the acquisition, ANS's support revenues on an annual basis will stand at £700,000 - an increase from £500,000 for the same period 12 months ago.

Commenting on the announcement, Ian Hogg, Chairman of ANS, stated:

"We believe this is an excellent earnings enhancing acquisition that will provide a number of benefits for the Company. As well as extending our customer and product base, the acquisition demonstrates the continuation of our strategy to bring together complementary businesses that strengthen our already strong market position."

For more details on Medifile, please visit Medifile's Website.