CompuGroup Medical strengthens market position in Northern Europe with the acquisition of Norwegian Pridok

CompuGroup Medical strengthens market position in Northern Europe with the acquisition of Norwegian Pridok

• Fast growing, fully web-based ambulatory information system with added value for doctors due to great user experience
• Fast tracking the evolving customer needs regarding interoperability and data sharing
• Foundation for further expansion in Northern Europe

Koblenz - CompuGroup Medical SE & Co. KGaA (CGM), one of the world's leading providers in the field of e-health, today announced the acquisition of the Norwegian software company Pridok AS. The company, which was founded in 2013, develops and distributes the ambulatory information system "Pridok EPJ" for Norway, which is completely web-based and modeled to reflect actual doctors’ workflows thus achieving great user experience. This acquisition strengthens CompuGroup Medical's market position in Northern Europe and lays the foundation for further growth. CGM has been present in Norway since 2008 as one of the leading providers of ambulatory information systems with its main product CGM Journal. The acquisition strengthens CGM's excellent market position and creates the opportunity to offer CGM customers in Northern Europe a purely web-based solution. In addition, the portfolio expansion provides an excellent option to support additional markets and healthcare practitioners with an innovative product as digitization progresses.

Norway and the Scandinavian markets in general, are highly digitized and Pridok AS meets the future requirements of a continuously modernizing healthcare system. Thus, with the acquisition CGM will be able to fast track the evolving needs of the Norwegian healthcare customers, in particular with respect to interoperability and data sharing.

Pridok was founded in 2013 by the brothers Jørgen, Jørn and Frode Gilberg in Tønsberg, Norway. The founders, who are actively involved in the management of Pridok and have so far held the majority of the shares, will continue to drive innovation and expansion together with CGM going forward.

The initial purchase price for 100% of the shares amounts to approximately EUR 35.7 million. In order to let the former owners and future managers participate in the success of a profitably growing business, there are earnout payments of up to EUR 16.3 million. Pridok generated revenues of approximately EUR 4.1 million in 2023, strongly growing compared to the prior year by 32%.

Michael Rauch, CEO of CompuGroup Medical, explains: "CGM has been driving innovation in ambulatory information systems in the Nordics for more than a decade, in line with our purpose that nobody should suffer or die because at some point medical information was missing. With the acquisition of Pridok, we are adding a state-of-the-art, web-based AIS that is precisely tailored to the requirements of our customers in the Scandinavian markets."

Pridok Chairman of the Board Jørgen Gilberg says: "We look forward to working together with one of the leading e-health players worldwide. We gain a strong partner who has been operating successfully internationally for decades and understands the needs of our customers and the specifics of the market we operate in. We are very excited to become part of the CGM family."