ifa systems acquires majority stake in leading ophthalmology patient communication platform Sophrona in the USA

• Acquisition opens up further growth potential for ifa in the USA and for Sophrona in Europe
• State-of-the-art open-standard technologies and API
• Sophrona brings Patient Portal, Referral Portal and Partner Portal

ifa united i-tech Inc., based in Fort Lauderdale, Florida (USA), a 100 % subsidiary of ifa systems AG acquires an 80 percent majority stake in Sophrona Solutions, Inc. based in North Oaks, Minnesota (USA), with effect from October 31, 2020. With almost 2,000 installations, Sophrona is a leading portal platform in the USA for online communication between patients and doctors in ophthalmology. Practices and clinics increase their efficiency and patient retention by using these solutions. While digitization in the healthcare sector is now accelerating significantly in Germany, Sophrona has already been leading the market in ophthalmology in USA for over a decade and strengthens ifa's competitive position in Europe.

"With this acquisition, we continue to implement our platform strategy and invest in our planned growth", says Jörg Polis, CEO of ifa systems AG. "ifa's software is designed to efficiently support workflows in ophthalmology and their administrative and medical documentation in the patient record. It is necessary to integrate hardware and software from other providers in ophthalmology." Marc-François Bradley, founder and President of Sophrona, says: "ifa and Sophrona share the same philosophy: customer success means a commitment to open platforms and collaboration with other vendors. We have proven this works in our existing partnership and look forward to also building on this relationship model internationally."

ifa currently serves its USA practices and clinics customers from two US locations. The acquisition will significantly expand ifa's presence in the American market and create new growth potential. At the same time, Sophrona will gain access to the European market for its open solutions. "The technological standards of Sophrona's products are groundbreaking for ifa ", says Polis. "We see great opportunities to support German and European customers on their way to a real patient portal. Sophrona is an important addition for ifa as the competence center for ophthalmology within NEXUS group."

Sophrona generated revenues of USD 1.6 million in 2019, with a high recurring portion. The purchase price is within a low single-digit million range, financed from existing liquid funds in ifa systems. Sophrona will be included in ifa's consolidated financial statements from the date of the acquisition. The board does not expect the acquisition to have a material impact on the group financial result for the year 2020, which is expected to be between EUR 0.2 - 0.5mn (EBIT) for the fiscal year.

Disclaimer

Statements in this Corporate News relating to future developments are based on our careful assessment of future events. The actual results of the Company may differ materially from the projected results because they depend on a variety of market and economic factors, some of which are beyond the Company's control.

Contact for questions:
ifa systems AG
Jörg Polis, CEO
Augustinusstr. 11b
50226 Frechen
[email protected]; [email protected]
+49 2234 933 670

The Company:

With over 30 years of experience, ifa systems AG is one of the world's leading providers of software solutions in ophthalmology. The main focus of the company's activities is the development of an electronic patient file (EMR) tailored to the needs of ophthalmology. ifa's EMR, in which all details of examinations and treatments are documented and managed, can be used flexibly both in specialist practices and eye centers as well as in specialized departments of hospitals. In addition, the range of services also includes supplementary software products for creating the network capability of ophthalmological diagnostic devices. Thanks to its innovative product portfolio, ifa makes a decisive contribution to ensuring the optimal treatment of patients and supports the simplification of procedures for doctors and medical staff. With the products and solutions of ifa systems AG, people in more than 20 countries worldwide work at more than 15,000 workplaces and manage more than 200,000 clinical patient cases every day. ifa systems AG is listed on the Open Market of the Frankfurt Stock Exchange with ISIN DE 007830788. NEXUS AG holds more than 50% of the shares and is also listed on the stock exchange (ISIN DE0005220909).