Currency in GBP

Last close As at 09/06/2023


−6.00 (−0.44%)

Market capitalisation


EMIS is a software supplier to the UK healthcare market. EMIS Health supplies integrated care technology to the NHS, including primary, community, acute and social care. EMIS Enterprise is a B2B software provider to the healthcare market, including medicines management, partner businesses, patient-facing services and healthcare analytics.

For the purposes of the Takeover Code, Edison is deemed to be connected with EMIS as a provider of paid-for research. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently we have removed our estimates until the offer period ends.



Equity Analyst

Key Management

  • Andy Thorburn


  • Peter Southby


Balance Sheet

Forecast net debt (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (15.0) (25.8) (2.0)
Relative (13.2) (22.7) (1.0)
52 week high/low 1910.0p/1292.0p


The Competition and Markets Authority has rejected the remedy proposed by United Health (the bidder) and EMIS to reduce the risks to competition and has announced it is launching a Phase 2 investigation into the acquisition. The bidder and EMIS have confirmed they will proceed with the Phase 2 investigation. Due to the investigation, they have extended the long stop date for the deal and extended the period during which EMIS shareholders will be entitled to dividends by one year.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 168.2 54.7 43.5 55.0 24.7 17.1
2022A 175.4 59.4 48.1 60.9 22.3 17.5
2023E N/A N/A N/A N/A N/A N/A
2024E N/A N/A N/A N/A N/A N/A



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