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A developer of clinical information systems for the healthcare industry is to add a project management and resource planning software specialist to its portfolio.

Clinical Computing plc has agreed to buy Program Management Group plc from its administrator for £16,000.

The deal is due to close on 22 February and includes a deferred payment that could reach £2.5 million if set targets are achieved by the end of 2015. This will be satisfied in either cash or shares.

The assets to be acquired include work in progress, intellectual property rights, 14 of its employees and some 50 customer contracts.

The acquired business will continue to serve its customers in the UK, US, Europe and South Africa from its Leeds headquarters.

Program Management, which targets its software at blue chip companies and the public sector, went into administration as a result of mounting loses. In the year to January 2008, it reported a pre-tax loss of £1.1 million on a £1.3 million turnover.

Established 15 years ago, Program Management’s software enables companies to undertake a strategic analysis of current and planned projects, manage project risk and improve organisational decision-making and resource efficiency.

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