EQUASENS (ex-Pharmagest Interactive): H1 2022 Revenue

Villers Les Nancy, FRANCE

Villers-lès-Nancy, 3 August 2022 - 6:00 p.m. (CET)


H1 2022 Revenue

  • Up 10.3% to €103.57m.
    • Like-for-like (excl. the PROKOV EDITIONS acquisition), Group revenue grows 7.68% to €101.11m.
  • Gains by all Divisions (with the exception of FINTECH, particularly affected by the economic context).
  • Effects of the French Digital Healthcare investment programme (Ségur du Numérique en Santé):
    • Teams focused on submitting supplier certification applications under the government programme’s timeline.
    • Q2 revenue growth outpaces Q1: +11.48% vs. +9.03%. The rollout of “Ségur” offerings to be stepped up.
  • Full-year growth targets confirmed.

(€m) H1 2021H1 2022Change
Q145.2749.36 + 9.03 %
Q248.6354.21 + 11.48 %
Total H1 93.90103.57 + 10.30 %


Equasens Group reported consolidated revenue of €103.57m for the six-month period ending 30 June 2022, up 10.3% year-on-year. Like-for-like (excluding the acquisition of PROKOV EDITIONS), Group revenue grew 7.68% to €101.11m.

It should be noted that the new organisation, effective from 1 January 2022, henceforth includes 5 Divisions:

  • PHARMAGEST (formerly the Europe Pharmacy Solutions Division);
  • AXIGATE LINK (formerly the Health and Social Care Facilities Solutions Division);
  • E-CONNECT, responsible for designing e-health solutions for healthcare professionals and the well-being of dependent patients;
  • MEDICAL SOFT, the new medical software Division, which now includes the activities of PROKOV EDITIONS;

This new organisation results in a marginal change in the respective contributions of each Division to total Group revenue.

H1 2022 business highlights

  • The PHARMAGEST Division reported sales of €75.81m, up 6.77% from H1 2021.

This Division accounts for 73.19% of total Equasens Group revenue.

  • France: +5.74% to €67.81m.

This Division continues to perform well, bolstered by investment capacities of pharmacists which continued to improve in 2021. The combined contributions of the OFFITAG and ASCAETIQ offerings and the restructuring of the latter's electronic labelling business also contribute to this growth momentum.

  • Italy: +17.91% to €5.30m.

The investment plan (recruitment campaigns, opening of new branches) is beginning to produce results, both for pharmacies and wholesaler-distributors. This Business Unit is continuing to grow at a sustained pace, mainly in response to increased synergies with France, the launch of the latest generation of id. software and the deployment of new European products (id.TAG, id.LOCKER, id.EASYQ, etc.).

  • Belgium: +13.40% to €1.37m.

The situation is improving, though remains fragile as pharmacists and pharmacy groups are continuing to experience financial pressures impacting their capacity to invest.

  • Digital Communications Business Unit: +13.38% to €1.32m.

The increased offering of services for pharmacies, industry and pharmacy groups (for example, the SAILFI loyalty programme) contributed to the growth in revenue.

  • The AXIGATE LINK Division had sales of €15.14m, up 8.40% from H1 2021.

This Division accounts for 14.62% of total Equasens Group revenue.

After a more subdued first quarter, all business sectors were up as commercial momentum strengthened.

  • Nursing home sector: +7.80% to €7.68m.

In Belgium, MALTA BELGIUM's nursing home business is steadily expanding, as it prepares for the launch of the new multilingual cloud-based version of the flagship software suite, TITANLINK.

  • Hospital-at-Home sector: +2.48% to €2.67m.

Although marginally impacted by the lead time for implementing the Ségur programme (-12.44% in Q1), this Business Unit is now benefiting from the qualification of its DOMILINK HAD software for this programme to strengthen the deployment of its offerings (+17.34% in Q2).

  • Hospital sector: +7.74% to €2.14m.

The business development process for hospital groups is long and complex. This being said, the HOSPILINK solution’s very recent qualification for the Ségur programme on 25 July 2022 is expected to have a significant impact on open calls for tender as well as prospecting activities addressing regional hospital networks.

  • The Healthcare Establishment and Private Practice sector: +13.29% to €2.34m.

PANDALAB is continuing to roll out pandaLAB Pro with more than 17,000 healthcare professionals connected to this secure instant messaging system.

  • Telemedicine sector: +68.16% to €0.31m.

While marginal (0.30% of total revenue), the Group has made significant commitments to support this Business Unit: signature of a remote monitoring agreement for bariatric surgery patients with the Nancy Regional and University Hospital Centre (CHRU), finalisation of a technical partnership with MWS to equip the large majority of nursing homes and manage CARELIB EHPAD notifications (fall detection and medical alerts) "to the right people, on the right platform (in particular the DECT mobile devices of nursing staff, but also within the pandaLAB Pro and TITANLINK solutions) at the right time". 

  • The E-CONNECT Division had sales of €9.08m, up 19.52% from H1 2021 and accounting for 8.77% of Equasens Group revenue.
    • For the Frail Management activity, the business development plan (test boxes in Germany, Belgium, France and the Netherlands) combined with reinforced Communication/Marketing efforts is starting to resonate with its market though without making up for the Q1 lag.
    • Growth momentum for the Compliance and e-Connect businesses have remained on track. The prime concern of the e-Connect Business Unit continues to be anticipating sourcing needs and ensuring the quality of electronic components in a market expecting continuing tensions over the next few months.

  • The MEDICAL SOFT Division, which includes the PROKOV EDITIONS business, reported sales of €2.46m, thereby confirming the justification for this acquisition in Q4 2021.

This new Division accounts for 2.37% of total Equasens Group revenue.

MédiStory 4, the latest generation of the software developed for private practitioners, was recently awarded Ségur certification from the French Digital Health Agency based on meeting 155 functional requirements. As a result, users of the different versions of MédiStory (with 9,500 GPs and specialists equipped to date) are eligible to subscribe to Ségur functions (complete migration of the solution or functional extensions).

  • The FINTECH Division had sales of €1.09m, down 18.59% from H1 2021, and accounting for 1.05% of Equasens Group revenue.

Reflecting unfavourable banking and financial sector trends, this business has been impacted by rising interest rates and a corresponding increase in lead times.

Significant events occurring after 30 June 2022

Equasens Group completes the majority acquisitions of three companies
(excerpt from press release of 28 July 2022)

Therapeutic compliance is a key issue at the European level in the management of elderly and chronically ill patients. In 2022, continuing to implement a strategy focused on patients and effective medication compliance, the Group has increased its shareholdings in three of its European subsidiaries:

  • MULTIMEDS, an Irish company which produces and distributes manual pill dispensers;
  • CAREMEDS, a British company, the developer of the eMAR traceability solution for prescription drugs prepared in pill dispensers for use in pharmacies and nursing homes;
  • I-MEDS, a German wholesaler and distributor of equipment and accessories for supplying drugs to patients and pharmacies.

These different operations will help Equasens Group accelerate its expansion and reinforce its presence in several European countries. In particular:

  • in the United Kingdom, by combining CAREMEDS' eMAR medication traceability solution with MALTA INFORMATIQUE's TITANLINK facility management solution (MALTA intends to replicate its Business Model, based on the successful example of MALTA BELGIUM in Belgium);
  • in Germany, by enhancing MULTIMEDS’ manual dispensing range with the Group's pharmacy automation solutions, and in particular the addition of AUTOMEDS' semi-automatic dispensing systems, which are perfectly suited to the German market in terms of design and capacity.


The Ségur qualified HOSPILINK solution

Following the success of MédiStory 4 (a software suite for physicians from the MEDICAL SOFT Division) and DOMILINK HAD (a Hospital at Home solution from the AXIGATE LINK Division), on 25 July 2022 Equasens Group announced HOSPILINK’s qualification in the Hospital category for the Ségur investment programme. Developed by AXIGATE teams, this application addresses the needs of hospitals, regional hospital groups, specialised, post-acute and rehabilitation facilities (AXIGATE LINK Division).

In line with the validation procedures (DSR or Dossier de Spécifications de Référencement or Software Specification Requirements), French Digital Health Agency (Agence du Numérique en Santé or ANS) teams ensured that the software complied with the technical, functional and ergonomic specifications. During its review of the HOSPILINK application, the ANS certification board noted that "the management of data and compliance with the procedures of the core services (were) carried out within an application framework provided reasonable guarantees with respect to compliance with the specifications and compliance scenarios as issued".

This qualification - the 3rd in 2 months for Equasens Group - was awarded within the framework of the Electronic Medical Records (EMR) category for the profiles:

  • Hospital - EMR: General 
  • Hospital - EMR: Patient Health ID integration 
  • Hospital - EMR: Web client EMR. 

2022 outlook

After a slower first quarter, the pace of growth picked up in Q2 and Equasens Group confirms its goal of maintaining this momentum for the full year.

In this context, funding provided by the public authorities through the French Digital Healthcare programme (Ségur du Numérique en Santé) should facilitate and even accelerate sales of the Group’s software extensions. The Group in consequence intends to manage Ségur projects while continuing to develop its other specialised activities (the Digital Health Gateway, the NOVIAcare programme, e-health technological solutions, etc.), which have made Equasens Group a key player in the healthcare ecosystem.

Financial calendar:

New dates for the communication of half-year results:

  • Publication of H1 results: Thursday 22 September 2022 (after the close of trading).
  • Presentation of H1 results: Friday 23 September 2022 at 11:30 am in Paris.
  • Publication of Q3 2022 revenue: 9 November 2022 (after the close of trading).

About Equasens Group:

With more than 1,200 employees fulfilling a vital role as “Citizens in the Service of Health and Well-Being”, Equasens Group is today a key player in the European healthcare sector, providing software solutions to all healthcare professionals (pharmacists, primary care practitioners, hospitals, Hospital-at-Home structures, retirement homes, health centres) in both primary and secondary care sectors.

With operations in France, Italy, Belgium, Luxembourg, the United Kingdom and Germany, Equasens Group is currently developing the leading healthcare platform and a unique ecosystem in France and Europe benefiting people by making available the very best of technology.

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Included in the Euronext Tech Leaders segment and the European Rising Tech label
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Eligible for the Deferred Settlement Service (“Service à Réglement Différé” - SRD) and equity savings accounts invested in small and mid caps (PEA-PME).
ISIN: FR0012882389 - Ticker Code: EQS

For all the latest news on Equasens Group go to www.equasens.com


Analyst and Investor Relations:
Chief Administrative and Financial Officer : Jean-Yves SAMSON
Tel. +33 (0) 83 15 90 67 - jean-yves.samson@equasens.com

Media Relations:

Tel. +33 (0)1 39 97 61 22 - i.aprile@finextenso.fr