Medicom Computer Solutions which provides IT solutions and products to medical consultants plans to seek a flotation of its shares within the next 18 months. Announcing the acquisition of a 15 per cent stake by Davy Stockbrokers Technology BES Fund, the managing director, Mr Howard Beggs, said Medicom plans to go for a listing on either AIM or Offex.
The Davy fund has paid £250,000 (€317,000) for its stake which values Medicom at £1.7 million (€2.16 million). Dublin City Enterprise Board has a 10 per cent stake and the remaining equity is split between the founders, Mr Beggs and Ms Maeve Kelly; each of their holdings is valued at £640,000.
Founded in 1996, Medicom said it is Ireland's leading specialist in the provision of computer solutions to private medical consultants and specialised healthcare services.
It has "grown very rapidly over the past four years on the strength of our Dynamic 2000 Practice Automation Software, which we developed to enable medical consultants to manage their practices more effectively," Mr Beggs said. Medicom employs 13 people, generates annual sales of £600,000 and expects to go into profit in the quarter to November 2000. A new facility has been purchased at the new Park West Enterprise Centre in Dublin.
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