Strong increase in Cegedim's turnover in 2019

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While Cegedim expected growth "above 5%", its turnover increased by 7.7% to 503.7 million euros, at constant scope and exchange rates.

By business, the Health Insurance, HR and e-services division jumped 10.7% (8.6%) to 340.5 million, or 67.6% of the group's total turnover.

In 2019, the group acquired four software companies (Ximantix, BSV, Cosytec and NetEDI) and sold almost all of the business of its American subsidiary specializing in medical software Pulse Systems to refocus on the market European. The acquisitions contributed positively by 2% (or 6.2 million euros) to the growth of the activity.

The Healthcare Professional activity recorded growth of 2.3% (4.2%) to 159.8 million. The contributors to growth were the computerization of doctors and paramedics in France, pharmacists in the United Kingdom and Romania, appointment scheduling and teleconsultation (Docavenue) as well as doctors in Romania and the United Kingdom .

The third-party payment processing and outsourcing activities, Business Process Outsourcing (BPO) for the insurance and human resources world, gained 26.8% to 45.5 million euros.

The group reported that in September 2019, the Paris Court of Appeal overturned a judgment of the city's commercial court. Cegedim remains condemned in a case concerning assignments, but less severely, and received 1.7 million euros from Tessi. This amount was recorded in its accounts in the fourth quarter.

The group aims for gross operating income (EBE, in the sense of Ebitda) 2019 "in line with the growth in turnover". He does not anticipate any significant acquisition in 2020. Regarding the impact of Brexit, Cegedim operates there in local currency. In 2019, the United Kingdom contributed 9.8% to the group's consolidated turnover. The impact on EBT is expected to be "not significant".

Cegedim will present its annual results on Thursday March 19.

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