Vitec Software Group AB (publ) strengthens its position in Vertical Market Software by acquiring all shares in the Finnish SaaS company Raisoft Oy on October 5. Raisoft has grown with a c. 20 % annual growth rate and in fiscal year 2021 achieved a turnover of EUR 4.9 million with an EBIT of EUR 0.6 million.

Raisoft offers a health information management software that provides digital assessment and decision-making systems, based on the global InterRai standards, for better and more standardized care for elderly, disabled and mentally ill. The software product is completely modular with options for EHR (electronic health record) integrations, which takes documentation and analysis to a whole new level. Clinicians and managers get access to real-time information for assessment-based care planning and effective decision-making. Raisoft is the market leader in its core markets Finland and Switzerland and has large growth potential globally. The company was founded in 2000 and has currently over 60 FTEs.

Vitec is market leader for Vertical Market Software in the Nordic region and develops and delivers standard niche software. Vitec grows through acquisitions of well-managed and well-established software companies. Vitec is headquartered in Umeå and listed on Nasdaq Stockholm. Vitec has 1,050 employees in Denmark, Finland, Netherlands, Norway and Sweden and had net sales of SEK 1,571 million in 2021.

"Raisoft delivers software with superior customer benefit for health and social care, primarily in Finland and Switzerland. Raisoft is a profitable and well-managed company with a business that fits well into our business model and corporate culture. We are pleased to welcome more than 60 new employees to us today," says Olle Backman, CEO, Vitec Software Group.

"Vitec has a strong position with long experience and broad expertise in vertical software. For us, it is crucial to have a long-term owner who is committed to the continued development of the company. I am convinced that together we will continue to develop Raisoft for the benefit of our customers today and in the future," says Robert Åström, CEO Oy Raisoft Ltd.

Carner Corporate Finance advised Vitec Software Group throughout the acquisition process.

Quotations from Vitec Software Group press release (link)