6PM is set to buy British IT company Blithe Computer Systems Ltd for £4.2 million (€5.8m), from its owner Peter Wright.
6PM will have to raise money for the acquisition through the proposed issue of a €13 million bond, redeemable in 2025. Both the acquisition and the bond as subject to regulatory approval.
Blithe specialises in the provision of systems and solutions for the management of Electronic Patient Records (EPR) in the healthcare sector, particularly in relation to sexual health and substance misuse.
The solutions provided by Blithe Computer Systems are currently being used by more than 10,000 healthcare professionals in more than 700 locations throughout the UK.
Through the acquisition of Blithe, 6PM aims to enhance its portfolio of solutions in the health sector as well as achieve additional business through cross selling.
The total gross assets and the profits of Blithe as at June 30, 2014, are £1,276,868 (€1,764,423) and £70,509 (€97,431) respectively.