Major New licence contract & 2015 Financial Guidance

A consortium led by Leidos Inc and Accenture Federal has just been officially awarded a major contract with the US Federal Government for the implementation of a new health record system based on Cerner software solutions for The Department of Defense (Defense Healthcare Management Systems Modernisation (DSHSM) project).

The DSHSM main objective is to digitize the health records of more than 9.5 million service men and women with a full deployment target by 2025.

The project will be phased out with an initial two-year order to be contracted with the winning consortium, to be followed by two three-year options

Assima is an active member of the consortium as provider of the training technologies to be used for the roll-out, throughout the 7 year project.

The contract (for the whole consortium) is valued at $4,3b over the initial 5 years and the project aims to set a new national standard for electronic health record systems.

This is expected to generate in the region of $13m in software revenue for Assima through the duration of the project, with a significant part to be recognised on our H2 2015 accounts as perpetual licences.

We anticipate that this contract will give us the opportunity to promote our technologies to other parts of the US government, reinforce our partnership with Accenture, and increase our recurring revenue for years to come.

This is the latest and probably most prominent demonstration of the power and differentiation of our Thin Clone Technology for eliminating training sand-box systems costs.

Thanks to this contract Assima can confidently confirm its financial guidance for 2015, communicated on April 30 with the release of the 2014 audited accounts.

For the full year we expect to reach in excess of £20m in revenue (compared to £17,3m for 2014) and 15% of Ebitda (against 2.9% for 2014).

These targets may be revised upwards pending closure of some further software deals notably in North America.

We also expect to expand our network of software publishers' partnerships in H2 2015, which should increase significantly the number of final clients using our technologies.

About ASSIMA

ASSIMA is a software publisher helping Fortune 500 companies to leverage their IT investments through by increasing end-user performance and business agility.

ASSIMA's solutions are distributed worldwide through 11 subsidiaries, in Europe, (UK, France, Germany, Switzerland, Ireland, Denmark, The Netherland, Spain), in North America (USA, Canada), and Africa (South Africa).

Contact:

Michel Balcaen E-mail : mbalcaen@assima.netwww.assima.net

Link to PDF

distributed by