STG closes buy of System C from McKesson

Symphony Technology Group has completed its acquisition of System C from McKesson. No financial terms were disclosed. Also, STG has named Dr. Ian Denley and Markus Bolton as joint chief executives of System C. Denley will be responsible for corporate affairs, research and development and the overall running of the company while Bolton will be responsible for sales, strategy and deployment services. Based in the UK, System C is a health and social care software supplier.

PRESS RELEASE

Having yesterday completed the acquisition of most of McKesson’s European healthcare software business, Symphony Technology Group (STG) is pleased to announce it has brought in a new leadership team to manage System C.

The System C group comprises System C, developer of the Medway EPR and related clinical applications, the social care software specialist Liquidlogic and all the UK-based McKesson businesses acquired by STG.

The new appointments are joint chief executives Dr Ian Denley and Markus Bolton, who are returning to the company they ran together for many years and which Bolton founded in 1983. Both Denley and Bolton left System C shortly after selling the company to McKesson in May 2011. They have a passion for innovation in the UK healthcare sector and, since leaving McKesson, have founded Shearwater Systems, developer of mobile clinical applications for the healthcare sector, and invested in shared care record supplier Graphnet Health.

Denley and Bolton will bring four other senior Shearwater directors to System C. This team will work with System C’s existing management to drive the business forward.

Marshall Haines, managing director of STG, said he was delighted to have secured the Shearwater team. “The provision of PAS/EPR systems is a highly complex business. We needed experienced senior managers with a deep understanding of the UK healthcare IT market, who share our passion for product innovation and first-rate service to customers.”

Denley will be responsible for corporate affairs, research and development and the overall running of the company. Bolton will be responsible for sales, strategy and deployment services. Both have taken a stake in the business.
“I’m very excited about the opportunity,” said Denley. “McKesson has put the Medway EPR firmly on the map with 19 major acute hospital trusts and Liquidlogic has built a substantial market share.

About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great technology and services companies across the world. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG’s current portfolio consists of 15 global companies. For more information, please visit www.symphonytg.com.

About System C Healthcare
System C (www.systemc.com) is the UK’s leading health and social care software supplier. Its products include the Medway electronic patient record and associated products, CarePlus Child Health and the Liquidlogic range of social care software. System C is a Symphony Technology Group company. For more information, please visit www.systemc.com.

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