StockMarketWire.com - Induction Healthcare said it had acquired Horizon for up to £2.5m.

Horizon owned MicroGuide - a revenue-generating app providing medical organisations with functionality to create, edit, and publish their own local medical guidelines. 'MicroGuide brings to the group a further substantial NHS user base. For healthcare professionals in many NHS Trusts, the Induction Switch app and MicroGuide already rank respectively as either the number one or number two most used healthcare apps,' said Ibs Mahmood, chief executive of Induction. For the year ended 31 December 2018, Horizon reported revenue of £220,640 and a net loss before tax of £560,512, with a net liability position of £554,674 as at 31 December 2018. Under the terms of the acquisition, the company agreed to purchase Horizon for a total of up to £2.5m, comprising an initial payment of £1m and deferred performance-related payouts up to £1.5m.

At 9:42am: [LON:INHC] share price was 0p at 117.5p



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