iSOFT (ASX:ISF) has acquired fellow health IT company UltraGenda BV, in a deal worth up to $16 million.
The Belgium-based UltraGenda earned pre-tax profits of $2.6 million in the last fiscal period. It develops enterprise-wide multi-resource scheduling software to a number of European markets.
Under the arrangement, iSOFT has paid $12.4 million outright for the acquisition, and will make payments of $1.9 million each January until 2012 if UltraGenda meets certain growth targets.
Meanwhile, the company has announced it has made two new executive appointments.
Mike Jackman has today become iSOFT’s new Group Operations Director. He will improve the development of the company’s portfolio of healthcare IT solutions.
Robert Miller, currently iSOFT’s Group Commercial Director, has meanwhile been pegged to become President, North America in March.
ISF shares have grown 2.6% to $0.580.