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Posts Tagged ‘Australia

iSOFT reports First Half Year Revenue Up by 168%

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iSOFT, an IBA Health Group Company (ASX: IBA), Australia’s largest listed health information technology company announced its release of first-half yearly results ending on 31 December, 2008. iSOFT follows the financial year from July to June.

For the half year ended 31 December 2008, the total revenue of iSOFT on a standalone basis, stood at A$275.4 (US$176.7) million, up by 168% from the first half yearly revenue of A$102.8 (US$66) million. The company’s net profit for the first six months increased to A$10.3 (US$6.6) million, compared to a loss of A$1.1 (US$0.7) million in the previous corresponding period. Underlying EBITDA was A$67.5 (US$43.3) million, up 161% from A$25.8 (US$16.6) million.

Executive Chairman and CEO of iSOFT, Gary Cohen said: “We have achieved profitable revenue growth in the first half, driven by solid recurring revenues across all our geographies. We are continuing to benefit from global investment in health IT by governments worldwide, and the computerisation of healthcare records”.

“We have been able to sustain continual all round business growth considering both financials as well as human resource factors”, said Mr. S Govind, Managing Director, iSOFT. “iSOFT’s business proposition arises from our experience and deep understanding of the healthcare vertical which generally faces minimal impact while other industries might be affected by the turbulent economies”.

iSOFT Financial Highlights: H1-09 VS H1-08:


H1-09

Million A$

H1-08

Million A$

% Change

Revenue

275.4

102.8

168%

Reported EBITDA

67.5

25.8

161%

Underlying EBITDA

68.5

33.7

103%

Reported EBIT

41.9

12.6

232%

Reported NPAT

10.3

(1.1)

N/A

Underlying NPAT (after minorities)

25.8

12.9

100%

Earnings per share (basic) in cts

1.20

(0.20)

N/A

Underlying EPS

3.17

2.07

53%

Cash at end of period

44.1

55.7

(21)%

Net cash from operating activities

(12.9)

8.2

N/A

iSOFT Financial Highlights – 12 Months YTD


H1 09 + H2 08

Million A$

H1 09

Million A$

Revenue 533.5 275.4
Reported EBITDA 138.0 67.5
EBITDA Margin 26% 25%
Underlying EBITDA 140.4 68.5
Depreciation (8.7) (4.5)
Amortisation (40.2) (21.1)
Impairment (2) (5.1) –
Reported EBIT 83.9 41.9
Finance cost (46.2) (26.6)
Income tax (11.6) (4.9)
Reported NPAT 26.1 10.3
Underlying NPAT (after minorities) 56.4 25.8
Earnings per share (basic) in cts 3.35 1.20
Underlying EPS

7.12

3.17

Net cash from operating activities 46.4 (12.9)

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Written by sreelakshmi

12 March, 2009 at 10:30 am

iSOFT wins US $ 2.78 million deal with Healthscope

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iSOFT, an IBA Health Group company, yesterday announced an agreement with leading Australian private hospital provider Healthscope Limited valued at US $ 2.78 million over three years.

The agreement to implement its iSOFT’s software at 38 Healthscope hospitals is in addition to a US $ 9.27 million agreement in December 2007 for software licences and support services over seven years. The initial agreement included pilot implementations of iSOFT’s web-based patient administration solution at two hospitals. Following the success of these pilots, implementation will start shortly at Healthscope’s remaining hospitals, including Knox Private Hospital in Victoria, Allamanda Private Hospital in Queensland and Mount Hospital in Western Australia.

The implementation services covered under the latest agreement include:

  • project management
  • software installation
  • system configuration
  • training
  • migrating medical records and data from a range of legacy systems

`Dougall McBurnie, Healthscope’s Group Chief Information Officer said: “Given the marked improvements in feature and function from iSOFT’s web-based patient administration solution experienced at the two pilot installations, we have elected to roll-out the solution to all of our hospitals, thus standardising our data sets, configurations and business processes.” He further added, “The ease of implementation of a common group-wide solution and smooth transition to a modern solution with minimal disruption for staff is a huge bonus.

Healthscope, one of Australia’s largest private healthcare operators, owns or manages medical/surgical, rehabilitation and psychiatric hospitals. It also operates a leading pathology business with facilities in Australia, New Zealand, Singapore and Malaysia.

iSOFT, an IBA Health Group company, is one of the world’s largest providers of healthcare IT solutions. It designs, builds and delivers industry-leading software systems that serve the entire health sector. iSOFT’s capacity to embrace change and keep abreast of emerging new directions in healthcare allows its customers to explore the exciting potential of new technologies while securing their existing investments. Today, over 13,000 provider organizations in 35 countries across five continents use iSOFT solutions to manage patient information and drive improvements in core processes. Its solutions are a catalyst for change, increasing efficiencies and providing direct benefits to all stakeholders across the whole spectrum of care. iSOFT’s business is driven by the collective talent, experience and commitment of over 4,000 specialists around the globe. iSOFT Global Development Centres of Excellence in Chennai and Bangalore contribute strategically to this international footprint.

For further details, please contact:

Ramesh Karajgikar

iSOFT – An IBA Health Group Company

Mobile: +91 (0) 97910 35005

Email: ramesh.karagikar@isoftplc.com