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04. May 2017, Koblenz

CompuGroup Medical SE – First Quarter Results 2017

CompuGroup Medical SE (CGM) today presented the financial report for the first quarter of 2017. The company, one of the leading global providers of eHealth solutions, achieved revenue of EUR 142 million compared to EUR 135 million in the same period last year. This corresponds to 5 percent growth of which 3 percent is organic growth. The operating profit (EBITDA) reached EUR 30 million with higher costs than normal due to the ramp-up for the Telematics Infrastructure roll-out.

With this result, it has been a good start to the year for CGM. Especially the high margin doctor, dental and pharmacy software business had a solid first 3 months with combined 5 percent organic growth. In addition, the testing in the strategically important pilot project for the electronic health card and Telematics Infrastructure in the Northwest region of Germany has been very positive and all test installations have now been successfully connected to this new information superhighway for German healthcare. As a result, CGM has exceeded the project target of half a million online card tests more than two months before the end of the trial period. Based on the successful results so far, CGM assumes that the nationwide roll-out of the Telematics Infrastructure can start from July 2017 onward.

CGM also recently published a study by PwC Strategy& named "eHealth Efficiency Potential" together with the German Federal Association for Healthcare IT companies. The key findings of this study: The possibilities of eHealth are still largely unused while the efficiency improvement potential for German healthcare alone corresponds to about 39 billion of annual savings. In addition, a full usage of available eHealth solutions leads to significant improvements in medical outcomes. In order to exploit this potential in Germany, the Telematics Infrastructure plays a key role as a central network and as a platform for electronic patient records.

Frank Gotthardt, CEO and Chairman of the Board of CompuGroup Medical SE, stated: “We are steadily closing in on arguably the most significant milestone in our corporate history: The start of the nation-wide roll-out of the Telematics Infrastructure in Germany. This is not just of great importance to CGM but is also highly significant for all participants in healthcare in Germany including all citizens and carriers of the new electronic health card. The benefits of such an infrastructure have been clearly shown in the eHealth study recently published and we look forward to help Germany and other healthcare economies realize the vast potential that lies within the products and solutions that we and other eHealth companies can provide.”

CGM reaffirms the full year 2017 guidance presented in the 2016 Annual Report. Group revenue is expected to be in the range of EUR 600 million and EUR 630 million and operating profit (EBITDA) between EUR 138 million and EUR 150 million.

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