Software supplier Ideagen turned in a ninth consecutive year of positive results on Tuesday thanks to organic growth and acquisitions.
Ideagen's total revenue was up 33% year-on-year to £36.1m, with organic growth driving 11% of the improvement.

Adjusted EBITDA and pre-tax profits both moved ahead 40% to £11m and £9.7m, respectively. Ideagen's revenue from cloud-based software services soared 76% to £8.4m.

During the year, Ideagen added 300 healthcare customers, IP, recurring revenues and a platform for further growth in North America thanks to its acquisition of US-based firm Medforce.

The firm also signed new deals with Lockheed Martin, Aston Martin, Citibank, Verizon and Bayer Pharmaceuticals and extended its existing deals with SABIC, Danone, Standard Life, HNZ Global and NHS Greater Glasgow and Clyde.

Ideagen's executive chairman David Hornsby, said: “The group's focus this year was on the continuation of our underlying organic growth and strategic transition to a recurring revenue model whilst integrating the four acquisitions made in the previous year.”

“Trading since the year end has remained robust and we continue to see strong demand for our products from new potential customers,” added Hornsby.

Ideagen shares were up 4.05% to 128.50p at 0920 BST, .

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