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Oberthur Buys Spanish Health Card Personalization Firm |
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 France-based smart card vendor Oberthur Card Systems has announced it
is buying SetCard, a Spain-based personalization firm specializing in
health care cards.
Oberthur says SetCard has annual sales of only about 600,000 euros
(US$763,335), serving six of 17 Spanish provinces that issue chip-based
health cards. Oberthur CEO Pierre Barberis told financial analysts this
week Spain plans to go to more sophisticated health cards, including
those supporting electronic prescriptions, and Oberthur is targeting a
significant share of this more lucrative market. “We are not acquiring
revenue, we are acquiring a position in the health card market,” he
said. “By acquiring someone who is supplier of 35% of the market, we
think we are building a strong base there.” He declined to say how much
the card vendor paid for SetCard, but indicated it was less than 1
million euros. Following the acquisition, Oberthur will provide
personalized cards in 12 provinces representing 40% of Spain’s
population, the company says.
(2006-07-27)
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