Alcidion (ASX:ALC) Acquires Silverlink Software and $55.5m Capital Raise
Henslow is pleased to have acted as Corporate Advisor to Alcidion (ASX:ALC) on the acquisition of Silverlink Software, one of the largest and few remaining specialist Patient Administration System (PAS) providers servicing the UK NHS market and Joint Underwriter, Joint Lead Manager and Joint Bookrunner to the associated $55.0m raise. Funds will be used entirely to fund the acquisition completion payment of $55m. In April 2021, Henslow acted as Alcidion’s M&A Corporate Advisor to the acquisition of ExtraMed and related $18.4m Placement & SPP. Henslow also acted as Alcidion's Corporate Broker and ECM Lead Manager since 2018, including the on-market transfer of approximately $4m from Blue Sky Private Equity to a consortium of institutional investors.
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Alcidion is transforming healthcare with smart, intuitive technology solutions that provide real-time clinical decision support. It integrates with EMR providers and assists doctors and nurses, covering functions such as; streamlining patient journeys, smart analytics to help with clinical decisions, improving patient safety, improving productivity amongst clinical staff through messaging applications, and data capture and interpretation.
Acquisition of Silverlink Software
Recently Raised (December 2021)
Silverlink Recurring Revenue
The recent Silverlink acquisition aligns with Alcidion’s stated acquisition strategy and expands Alcidion’s UK presence from 27 trusts to 38 trusts, representing an approximately 26% market presence across the acute NHS market. Furthermore, Silverlink revenue is 95%+ recurring with Silverlink management forecasting FY22 revenue (30 April year-end) of A$7.8M and forecast EBITDA of A$4.8m. The successful transactions (both the acquisition and capital raise) provide a further example of Henslow’s ability to partner with exciting growth companies and provide combined and complementary M&A and equity markets services.
| December 2021 |
Acquisition of Silverlink Software - $61.1 |
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| December 2021 |
Placement - $55m |
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| April 2021 |
Acquisition of ExtraMed - $9.4m |
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| April 2021 |
Placement - $17.9m |
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| November 2019 |
Placement - $16.2m |
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| November 2018 |
Block Trade - $4.0m |
“Alcidion is well-placed to scale up and pursue a significant global market opportunity. The adoption of technology in healthcare is accelerating, driven by access to digital patient data, increasing demands on healthcare and a shifting regulatory environment.”
Kate Quirke, Chief Executive Officer and Managing Director of Alcidion
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