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NetDimensions Holdings Ltd Announces Acquisition Of Assets, Goodwill And Business Of eHealthcareIT

Friday, 1 Mar 2013 03:53am EST 

NetDimensions Holdings Ltd announced that it has acquired the assets, goodwill and business of eHealthcareIT for a total consideration of approximately USD3.5 million. Founded in 2004, eHealthcareIT specializes in providing e-learning and compliance solutions to the U.S. healthcare market. The total consideration will comprise of USD2.5 million in cash and USD1 million in stock. 50% of the cash consideration is payable on completion with a further USD0.75 million paid in four equal installments commencing three months following completion and USD0.5 million on an earn out basis. eHealthcareIT made a small profit for the year ended December 2011 of USD62,471 and its invoiced sales for the period were USD2.1million. The eHealthcareIT business will immediately become NetDimensions Healthcare, a dedicated division of NetDimensions Holdings that will provide talent, learning, and compliance management solutions specifically to the healthcare market internationally. Ken Wright, the founder & CEO of eHealthcareIT, will stay on with the new combined company and become the President of NetDimensions Healthcare. 

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22 Dec 2014