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Magyar Telekom acquires healthcare IT company

Magyar Telekom on Friday said it signed an agreement to acquire 100% of hospital information system application services company International System House (ISH) for HUF 2.9 billion, minus net debt at the closing of the transaction.

Further earn-out payments could be made depending on the company's performance in 2009 and 2010, Magyar Telekom said.

ISH specialises in developing, installing and operating integrated healthcare IT services. It is market leader in the segment, generating revenue of almost HUF 2.9 billion and EBITDA of HUF 1 billion in 2008.

Magyar Telekom aims to further strengthen its position in the IT services market with the acquisition.

The closing of the transaction, subject to Competition Office approval, is expected in Q3 2009. (MTI-ECONEWS)