Apax sells Symphonie On Line

Apax Partners has sold Symphonie On Line, a specialist in the fast growing market of Hospital Information System and Electronic Patient Record, to Agfa-Gevaert. The transaction is valued at €42m and is paid in cash.

Symphonie On Line has developed its administrative application software into a full-blown Clinical Information System, which is offered to its installed base of over 1,200 sites in France. Symphonie On Line has demonstrated substantial growth, consistently posting double digit operating margins. Its 2003 revenues amounted to €24.1m, with an operating result of €4.6m. Headquartered in Bordeaux, Symphonie On Line hosts five additional operational sites in France, totalling a headcount of over 200 employees.

Apax Partners funds acquired a majority stake in Symphonie On Line at the end of 2000. In 1983, Apax had been involved in the expansion of Kalamazoo Informatique Santé, which merged with Symphonie On Line at a later date.