Possible management buyout at Ascribe

Ascribe Plc, the AIM-listed healthcare IT services company, has today confirmed it is in preliminary talks with its executive directors regarding a possible management buyout.

Ascribe, which provides a range of products and services including pharmacy, prescribing and GP systems, confirmed on Tuesday that it is “in preliminary discussions in relation to a potential management buyout by Ascribe’s executive directors”

Ascribe’s best known primary care system is the Exeter GP system. The company has clients in the UK and internationally, including Australia.

The company added in a statutory RNS statement “These discussions may or may not lead to an offer being made for the entire issued share capital of the company and shareholders should be aware that there is no certainty that an offer will be forthcoming.”

The company, in the guise of ASC Computer Software Ltd, successfully bid for and been included in the Additional Supply Capability and Capacity (ASCC) framework contracts for clinical information systems published by NHS Connecting for Health in May.

The ASCC framework, and renewed interest in ‘interim systems’, potentially offers suppliers an opportunity to win additional contracts awarded by trusts.

Shares in Ascribe, which has a market capitalisation of around £28m have dropped 38% over the last year.