MIRA
INFORM REPORT
|
Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
OCUCO LIMITED |
|
|
|
|
Registered Office : |
Ocuco House Unit 8, Coolport Coolmine Industrial Park Dublin |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.08.2009 |
|
|
|
|
Date of Incorporation : |
26.10.1995 |
|
|
|
|
Com. Reg. No.: |
E0240089 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Publishing of software |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Ireland |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
Ocuco Limited
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Business
Description
|
Ocuco Limited is a provider of software solutions to the ophthalmic
and pharmaceutical industries in Ireland. The company offers several patient
relationship management systems. In addition, it provides windows-based
practice management systems and thermal label printers. The company offers
electronic patient record systems to ophthalmologists. In addition, it
provides digital imaging solutions to opticians. The company offers software
solutions for managing lens manufacturing processes. Additionally, it
provides payment tracking and inventory and purchase order management
solutions. The company offers pharmacy management software solutions to
hospitals. It additionally provides stock and data management solutions to
the healthcare sector. |
Industry
|
Industry |
Software and Programming |
|
ANZSIC 2006: |
5420 - Software Publishing |
|
NACE 2002: |
7221 - Publishing of software |
|
NAICS 2002: |
51121 - Software Publishers |
|
UK SIC 2003: |
7221 - Publishing of software |
|
US SIC 1987: |
7372 - Prepackaged Software |
Key Executives
|
News
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.740447
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6968398
Corporate Overview
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Executives Report
|
Ocuco makes giving
easier
Optician: 29 July 2011
[What follows is the full text of the news story.]
Ocuco has
partnered with the Vision Care for Homeless People charity in an effort to
bring eye care to homeless people throughout the UK. It has enabled its Acuitas
and Focus Practice Management Systems to process charitable donations from
patients at the till. Donations can be collected for any charity of choice,
with details on configuring this feature available on www.ocuco.co.uk
Cottrell works
with practices
Optician: 04 March 2011
[What follows is the full text of the news story.]
Ocuco has
appointed Gareth Cottrell as managing director with responsibility for
independents in the UK and Ireland.
Cottrell has
extensive experience of working with independent practitioners. His has been
involved in the evolution of Ocuco's Focus product which is currently used by
more than 500 practices in the UK and Ireland. 'I am very excited by the
opportunity to leverage my skills, along with Ocuco's market experience, to
benefit customers of both Acuitas and Focus in the UK and Ireland,' Cottrell
said.
head to go here
Optician: 07 January 2011
[What follows is the full text of the news story.]
Irish,
practice-management software provider Ocuco has launched a new audiology module
for its Acuitas product. According to the company, the module allows optical
practices with audiology business lines to work on one system.
Ocuco stated that
there are significant similarities between the optical and audiology businesses
as both involve a clinical consultation followed by a fitting and dispense. It
said that people's requirement for both services increase with age, yielding a
similar patient demographic and pointed out that optical and audio aids can be
integrated into a single device. Ocuco also observed that there appeared to be
a reticence among people whose hearing is fading to seek assistance since audiology
centres are often not present on the high street and hearing aids aren't
fashion items as spectacles can be.
The audiology
module interfaces to a third party software application entitled NOAH, which
links to the practice's clinical audiology equipment. Once the audiology module
is activated, audiology is incorporated into the dispense, stock, order and
catalogue modules of Acuitas.
head to go here
Optician: 10 December 2010
[What follows is the full text of the news story.]
Irish,
practice-management software provider Ocuco has launched a new audiology module
for its Acuitas product. According to the company, the module allows optical
practices with audiology business lines to work on one system.
Ocuco stated that
there are significant similarities between the optical and audiology businesses
as both involve a clinical consultation followed by a fitting and dispense. It
said that people's requirement for both services increase with age, yielding a
similar patient demographic and pointed out that optical and audio aids can be
integrated into a single device. Ocuco also observed that there appeared to be
a reticence among people whose hearing is fading to seek assistance since
audiology centres are often not present on the high street and hearing aids aren't
fashion items as spectacles can be.
The audiology
module interfaces to a third party software application entitled NOAH, which
links to the practice's clinical audiology equipment. Once the audiology module
is activated, audiology is incorporated into the dispense, stock, order and
catalogue modules of Acuitas.
FYi Doctors Choose
Ocuco
Marketwire (Canada): 02 December 2010
[What follows is the full text of the news story.]
VANCOUVER, BRITISH
COLUMBIA--(Marketwire - Dec. 2, 2010) - Ocuco's market position in the retail
software sector continues to expand globally. Following recent announcements
from the company of deals in Mexico and Sweden, Ocuco has announced a new major
deal worth EUR1.5m with FYi doctors, a 75 store Canadian chain of eye doctors
with full optical dispensaries. Ocuco will supply Acuitas Enterprise, its
flagship optical retail management software suite across their estate. The deal
agreed covers 100 locations, securing the relationship into the future.
"This major
contract for Ocuco in Canada validates our global position in the optical
software space. We are delighted to have come out on top in FYi doctors'
selection process. Being successful in the global arena means having the right
product, infrastructure, rollout and support capabilities and providing a
compelling return on investment, to bring a win-win for both parties",
commented Ocuco CEO, Leo MacCanna.
FYi doctors will
benefit through improved processes and performance at the clinic level, and
centralised control and global visibility at head office. Within the head
office, Acuitas will provide integration between the ordering, inventory
control, accounting and lab management systems.
According to Dr.
Alan Ulsifer, FYi doctors CEO & President, and Ernst & Young
Entrepreneur of the Year award recipient, "having robust, configurable,
scalable IT infrastructure is at the core of our aggressive expansion plans for
FYi doctors. We are confident in our choice of Ocuco to see us through this
growth phase and beyond. Looking at Ocuco's proven track record of delivering
on-time, on-budget optical enterprise rollouts was a determining factor in our
decision. We feel that Ocuco is the top company in the optical software market
to reliably enterprise an enterprise of our size, providing real-time
information at our head office. This is key to our growth plans."
With the deal now
agreed, Ocuco will begin to localise its suite to the Canadian market.
Localising for this market is uniquely complex, with Canada's provincial
healthcare reimbursement rules and their bilingual culture.
For more
information on Ocuco visit www.ocuco.com.
About OCUCO
Ocuco has the
largest optical software delivery infrastructure in Europe. With a development
team of 30 and an operations team of 40, Ocuco can deliver to small and large
chains in a timely fashion. In the past, Ocuco has rolled out at rates of up to
30 stores a week in the Vision Express chain.
Offering a single
software product across a wide geographical spread is quite involved.
Localising the product for each new region involves language translation,
incorporation of local fiscal regulations and modification of the product
offering to suit local optical industry norms.
The Acuitas suite
of optical retail management products are localised for UK, Ireland, France,
Spain, Switzerland, Mexico, Sweden, Italy and Canada with plans in place to
localise for USA in 2011.
Ocuco Key Facts:
-- Ocuco is the biggest software supplier to
opticians in Europe.
-- Represents growth from EUR2m t/o in 2004 to
EUR8.2m in 2008 (Audited).
-- 6,500 sites using its software worldwide up
from 200 in 2004.
-- 96 staff in 2010 up from 20 in 2004.
Founded in Dublin
in 1993 by now Group CEO Leo Mac Canna, Ocuco is a pioneer of software
solutions for the optical market.
Ocuco provides
patient relationship and business management software solutions to service
independent practices, medium sized groups, large chains, optical labs,
ophthalmology clinics, eye A&E departments and hospitals.
Ocuco has offices
in Dublin, Cardiff (UK), Chipping Norton (UK), Bordeaux (France), Cremona
(Italy), Barcelona (Spain), Manchester (USA), Vancouver (Canada) and Queensland
(Australia).
For more
information on Ocuco please visit www.ocuco.com.
About FYi Doctors
FYi doctors is a
private optometry owned eyecare services company with its head office located
in Calgary, Alberta and a fully automated production and distribution facility
based in Burnaby, British Columbia. FYi doctors is currently one of Canada's
largest providers of ophthalmic products and services with over 75 locations
across the country.
For more
information on FYi doctors please visit www.fyidoctors.com.
FOR FURTHER
INFORMATION PLEASE CONTACT:
Ocuco LimitedDermot Walsh
Unit 8 Coolport, Coolmine Business
Park, Dublin 15
+353-1-8226533 or Toll Free:
1-800-708-1610
www.ocuco.com
Source: Ocuco
FYi Doctors Choose
Ocuco
Market Wire: 02 December 2010
[What follows is the full text of the news story.]
VANCOUVER, BRITISH
COLUMBIA -- (MARKET WIRE) -- 12/02/10 -- Ocuco's market position in the retail
software sector continues to expand globally. Following recent announcements
from the company of deals in Mexico and Sweden, Ocuco has announced a new major
deal worth EUR1.5m with FYi doctors, a 75 store Canadian chain of eye doctors
with full optical dispensaries. Ocuco will supply Acuitas Enterprise, its
flagship optical retail management software suite across their estate. The deal
agreed covers 100 locations, securing the relationship into the future.
"This major
contract for Ocuco in Canada validates our global position in the optical
software space. We are delighted to have come out on top in FYi doctors'
selection process. Being successful in the global arena means having the right
product, infrastructure, rollout and support capabilities and providing a
compelling return on investment, to bring a win-win for both parties",
commented Ocuco CEO, Leo MacCanna.
FYi doctors will
benefit through improved processes and performance at the clinic level, and
centralised control and global visibility at head office. Within the head
office, Acuitas will provide integration between the ordering, inventory
control, accounting and lab management systems.
According to Dr.
Alan Ulsifer, FYi doctors CEO & President, and Ernst & Young
Entrepreneur of the Year award recipient, "having robust, configurable,
scalable IT infrastructure is at the core of our aggressive expansion plans for
FYi doctors. We are confident in our choice of Ocuco to see us through this
growth phase and beyond. Looking at Ocuco's proven track record of delivering
on-time, on-budget optical enterprise rollouts was a determining factor in our
decision. We feel that Ocuco is the top company in the optical software market
to reliably enterprise an enterprise of our size, providing real-time
information at our head office. This is key to our growth plans."
With the deal now
agreed, Ocuco will begin to localise its suite to the Canadian market.
Localising for this market is uniquely complex, with Canada's provincial
healthcare reimbursement rules and their bilingual culture.
For more
information on Ocuco visit www.ocuco.com.
About OCUCO
Ocuco has the
largest optical software delivery infrastructure in Europe. With a development
team of 30 and an operations team of 40, Ocuco can deliver to small and large
chains in a timely fashion. In the past, Ocuco has rolled out at rates of up to
30 stores a week in the Vision Express chain.
Offering a single
software product across a wide geographical spread is quite involved.
Localising the product for each new region involves language translation,
incorporation of local fiscal regulations and modification of the product
offering to suit local optical industry norms.
The Acuitas suite
of optical retail management products are localised for UK, Ireland, France,
Spain, Switzerland, Mexico, Sweden, Italy and Canada with plans in place to
localise for USA in 2011.
Ocuco Key Facts:
-- Ocuco is the biggest software supplier to
opticians in Europe.
-- Represents growth from EUR2m t/o in 2004 to
EUR8.2m in 2008 (Audited).
-- 6,500 sites using its software worldwide up
from 200 in 2004.
-- 96 staff in 2010 up from 20 in 2004.
Founded in Dublin
in 1993 by now Group CEO Leo Mac Canna, Ocuco is a pioneer of software
solutions for the optical market.
Ocuco provides
patient relationship and business management software solutions to service
independent practices, medium sized groups, large chains, optical labs,
ophthalmology clinics, eye A&E departments and hospitals.
Ocuco has offices
in Dublin, Cardiff (UK), Chipping Norton (UK), Bordeaux (France), Cremona
(Italy), Barcelona (Spain), Manchester (USA), Vancouver (Canada) and Queensland
(Australia).
For more
information on Ocuco please visit www.ocuco.com.
About FYi Doctors
FYi doctors is a
private optometry owned eyecare services company with its head office located
in Calgary, Alberta and a fully automated production and distribution facility
based in Burnaby, British Columbia. FYi doctors is currently one of Canada's
largest providers of ophthalmic products and services with over 75 locations
across the country.
For more
information on FYi doctors please visit www.fyidoctors.com.
Contacts:
Ocuco
LimitedDermot Walsh
Unit 8 Coolport,
Coolmine Business Park, Dublin 15
+353-1-8226533 or
Toll Free: 1-800-708-1610
www.ocuco.com
Source: Ocuco
Annual Profit
& Loss
|
|
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
31-Aug-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.740447 |
0.668294 |
0.75753 |
0.815815 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
Turnover |
10.5 |
12.6 |
6.4 |
5.1 |
|
Cost of Sales |
0.7 |
- |
- |
- |
|
Gross Profit |
9.7 |
- |
- |
- |
|
Operating Profit |
-0.8 |
0.5 |
-1.0 |
0.8 |
|
Non Trading Income |
0.1 |
0.2 |
0.2 |
0.1 |
|
Interest Expenses |
0.7 |
0.4 |
0.1 |
0.0 |
|
Pretax Profit |
-1.3 |
0.3 |
-0.9 |
0.8 |
|
Taxation |
-0.2 |
0.2 |
-0.3 |
0.1 |
|
Profit after Tax |
-1.1 |
0.1 |
-0.6 |
0.7 |
|
Retained Profits |
-1.1 |
0.1 |
-0.6 |
0.7 |
|
Value Added |
5.2 |
7.6 |
3.1 |
3.0 |
|
Wages And Salaries |
5.3 |
6.4 |
3.6 |
2.0 |
|
Directors’ Emoluments |
0.6 |
0.9 |
0.6 |
0.3 |
|
Auditors Fees |
0.1 |
0.0 |
0.0 |
0.0 |
|
Depreciation |
0.2 |
0.1 |
0.1 |
0.0 |
|
Number of Employees |
87 |
70 |
49 |
33 |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
31-Aug-2006 |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.69684 |
0.679232 |
0.733541 |
0.781219 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
Tangible Assets |
0.2 |
0.3 |
0.3 |
0.1 |
|
Intangible Assets |
5.7 |
6.6 |
3.4 |
2.5 |
|
Total Fixed Assets |
5.9 |
6.9 |
3.8 |
2.7 |
|
Stocks |
0.0 |
0.0 |
0.0 |
0.0 |
|
Trade Debtors |
1.4 |
2.6 |
0.7 |
0.7 |
|
Cash |
0.3 |
0.5 |
0.5 |
0.5 |
|
Miscellaneous Current Assets |
4.5 |
4.1 |
3.4 |
3.1 |
|
Other Current Assets |
4.9 |
4.6 |
3.9 |
3.5 |
|
Total Current Assets |
6.3 |
7.3 |
4.7 |
4.2 |
|
Total Assets |
12.2 |
14.2 |
8.4 |
6.9 |
|
Net assets |
4.9 |
7.2 |
2.8 |
4.5 |
|
Total Current Liabilities |
7.3 |
7.1 |
5.7 |
2.4 |
|
Total Debt |
6.0 |
6.0 |
3.1 |
0.3 |
|
Total Long Term Liabilities |
3.6 |
4.2 |
0.5 |
0.2 |
|
Total Liabilities |
10.8 |
11.3 |
6.1 |
2.6 |
|
Share Capital And Other Reserves |
2.8 |
3.3 |
2.9 |
4.2 |
|
Profit & Loss Account Reserve |
-1.5 |
-0.3 |
-0.6 |
0.0 |
|
Shareholders Funds |
1.4 |
2.9 |
2.3 |
4.3 |
|
Capital Employed |
4.9 |
7.2 |
2.8 |
4.5 |
|
Net Worth |
-4.3 |
-3.7 |
-1.1 |
1.7 |
|
Working Capital |
-1.0 |
0.2 |
-1.0 |
1.8 |
|
Fixed Assets |
0.2 |
0.3 |
0.3 |
0.1 |
|
Liquid Assets |
6.3 |
7.2 |
4.7 |
4.2 |
|
Trade Creditors |
0.9 |
0.7 |
0.3 |
0.3 |
|
Bank Overdraft |
0.3 |
0.7 |
- |
- |
|
Miscellaneous Current Liabilities |
6.1 |
5.6 |
5.3 |
2.0 |
|
Other Short Term Finance |
2.2 |
1.0 |
2.6 |
0.1 |
|
Other Current Liabilities |
3.8 |
4.6 |
2.7 |
1.9 |
|
Short Term Loans |
2.6 |
1.8 |
2.6 |
0.1 |
|
Long Term Loans |
3.4 |
4.2 |
0.5 |
0.2 |
|
Other Long Term Finance |
3.4 |
4.2 |
0.5 |
0.2 |
|
Other Long Term Liabilities |
0.1 |
- |
- |
- |
|
Called Up Share Capital |
0.0 |
0.0 |
0.0 |
0.0 |
|
Sundry Reserves (incl. Grants) |
2.8 |
3.2 |
2.9 |
4.2 |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Aug-2009 |
31-Aug-2008 |
31-Aug-2007 |
31-Aug-2006 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.740447 |
0.668294 |
0.75753 |
0.815815 |
|
Consolidated |
Yes |
Yes |
Yes |
Yes |
|
|
|
|
|
|
|
Net Cashflow From Operating Activities |
0.3 |
0.1 |
-0.3 |
-1.2 |
|
Net Cashflow From ROI & Servicing Of Finance |
-0.7 |
-0.4 |
0.0 |
0.0 |
|
Net Cashflow Before Financing |
-0.4 |
-4.2 |
-0.4 |
-1.4 |
|
Net Cashflow From Financing |
0.7 |
3.4 |
0.4 |
0.2 |
|
Increase In Cash |
0.2 |
-0.8 |
0.0 |
-1.2 |
|
Net Cash |
0.0 |
-0.2 |
0.5 |
0.5 |
|
|
|
Annual Ratios |
|
|
|
|
|
|
|
31-Aug-2006 |
|
Period Length |
52 Weeks |
|
Filed Currency |
- |
|
Exchange Rate |
- |
|
Consolidated |
Yes |
|
|
|
|
Current Ratio |
1.76 |
|
Liquidity Ratio |
1.76 |
|
Stock Turnover |
2,080.50 |
|
Net Worth / Total Liabilities |
82.63% |
|
Long Term Liab. / Net Worth |
0.00 |
|
Pretax Profit / Capital Employed |
19.74% |
|
Pretax Profit / Total Assets |
12.91% |
|
Pretax Profit / Turnover |
16.65% |
|
Debtors Days |
45.18 |
|
Creditors Days |
23.68 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.82 |
|
|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.28 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.