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iSOFT wins US$ 3.54m deal in England for a hospital information system

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iSOFT, an IBA Health Group Company, today announced that it has won a contract for a hospital information system with a National Health Service (NHS) trust in southern England worth £2.4 million (US$3.54m) over five years.

The contract with Heatherwood and Wexham Park Hospitals NHS Foundation Trust is for iSOFT’s i.Patient Manager (i.PM) PAS and a technical refresh of an existing iSOFT clinical solution, i.Clinical Manager (i.CM). i.PM is replacing an outdated third-party system.

The trust elected to contract directly with iSOFT for a replacement PAS instead of waiting for a solution under England’s National Programme for IT. This is one of the first major deals in the Southern Cluster, which was formerly serviced by Fujitsu.

Jonathan Pearce, the Trust’s Director of Infrastructure, said: “We are delighted to be working with iSOFT on this very important programme for Heatherwood and Wexham Park Hospitals NHS Foundation Trust. We already have a strong working relationship with iSOFT as we already use its clinical information system, i.CM. We very much value our partnership with iSOFT and look forward to strengthening this and working with the company to deliver the new PAS solution to the trust.”

Adrian Stevens, Managing Director of iSOFT UK and Ireland, said: “i.PM is a highly robust and proven solution from a company with an established pedigree in the NHS.”

“The seamless integration with i.CM provides a complete patient and clinical management solution to better manage appointments, improve efficiency and reduce waiting times. It also provides a foundation for a smooth transition to iSOFT’s next generation of healthcare solutions. This underlines our position as the leading provider of healthcare solutions to the NHS,” Stevens said.

The trust serves a population of more than 450,000 in six locations: Wexham Park Hospital near Slough, Heatherwood Hospital in Ascot, and hospitals and outpatient clinics in Bracknell, Maidenhead, the Chalfonts, and Windsor.

iSOFT wins US$ 1.0 million deal for a hospital information system in Libya‏

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iSOFT, an IBA Health Group Company, today announced that its Middle East and Africa division won a two-year deal to implement its hospital information system and a LabCentre solution at Al Khadra Hospital in Tripoli, Libya. The agreement is worth A$ 1.4 million (US$ 1.0 million).

iSOFT’s Executive Chairman & CEO, Gary Cohen, said: “This deal opens a new market for us in Northern Africa and expands our global footprint to 37 countries. Together with our recent agreements in Honduras and Mexico, this deal demonstrates our growing international influence of iSOFT as one of the world’s biggest health IT companies. It also proves that there is an untapped stream of potential growth opportunities for businesses with a global outlook.”

iSOFT’s eHIS solution will be implemented at Al Khadra private hospital in two phases in partnership with Alshada Pharmaceutical & Medical Equipment in Tripoli. Al Khadra, with more than 580 beds and 700 staff, has been a pioneer in many surgical procedures in Libya, such as urology, endoscopic and laparoscopic surgery. eHIS will provide point-of-care access to patient medical records to inform clinical decisions and so speed diagnoses and improve the quality of care. Integrated with the iSOFT LabCentre laboratory information system, clinical staff can request pathology tests and review and analyse results online. Faster turnaround of pathology tests again helps doctors make timely clinical decisions and improve treatment.

iSOFT wins major projects in Spain worth US$3.85 million

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iSOFT, an IBA Health Group company, today announced that it has won contracts totalling A$5.79 million (US$3.85 million) with two regional healthcare services in Spain.

In a deal worth A$5.08 million (US$3.38 million), which will be booked over the life of the contract, iSOFT will develop clinical and patient management systems for one of Spain’s most important autonomous communities (regional governments). The company is part of a consortium providing an integrated healthcare system for 28 hospitals in a project totalling A$23.1 million (US$15.38 million) over two years. The consortium is upgrading current systems and infrastructure to provide a common platform for all administrative, clinical and patient management functions and so improve the quality of healthcare services for 8 million patients. The system is designed for up to 82,000 healthcare professionals.

iSOFT’s contract, which includes patient administration, theatres, electronic prescriptions and data warehousing systems and integration services, covers the initial two years of the project. There is potential for ongoing development, maintenance and support.

Gary Cohen, IBA’s Executive Chairman and CEO, said: “This is a major project of significant importance in Spain, especially as other autonomous communities are planning similarly joined-up, regional healthcare systems. The project also provides a foundation for further developments such as electronic health records.”

Meanwhile, iSOFT has won a contract worth U$479,628 to develop an e-prescription solution for the Navarra Healthcare Service in northern Spain.

Under the initial one-year contract, iSOFT will provide an e-prescription solution to eliminate paper prescriptions and so save time and costs and avoid dispensing mistakes. It will also give doctors prescribing rules and lists of recommended drugs and automate invoicing and payments for pharmacists.

iSOFT is working in partnership with Madrid-based information and technology services company IECISA.

The solution will be piloted at the Mendillorri and Mutilva health centres, the Navarra Hospital and 17 pharmacies this year, before being rolled out to 56 health centres and all 500 pharmacies throughout the region in 2010.

iSOFT’s contract is for the initial pilot project and is its first with the Navarra Healthcare Service. It follows the completion of an e-prescription project for the Balearic Island Healthcare Service in December 2008. iSOFT’s solution is now used by 55 health centres and 411 pharmacies in Mallorca, Menorca, Ibiza and Formentera.

Guillermo Ramas, managing director of iSOFT Spain, Portugal and Latin America, said: “The e-prescription project in the Balearic Islands is a huge success and now serves as a model for other healthcare services in Spain. The 600,000 people in the Navarra region stand to benefit from this investment since the solution will help save money by reducing administrative workloads and eliminating duplicate prescriptions, improve accuracy and so avoids mistakes, and give doctors more time for patients.”

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)

Written by sreelakshmi

12 March, 2009 at 10:30 am

iSOFT signs deals for US $11.3m with two hospitals in Netherlands

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iSOFT, an IBA Health Group company, announced that it has signed contracts with two major hospital groups in the Netherlands totalling US $ 11.3 million.

In the largest deal, Erasmus MC (medical centre) in Rotterdam has renewed its contract for iSOFT’s hospital information systems for a further five years. The US $ 8.24 million contract includes licenses, maintenance and support. Erasmus MC is the university hospital of Rotterdam and the country’s largest medical school with 1,500 students.

Hospital Diaconessenhuis Leiden, a major teaching hospital in Leiden, has also renewed its contract for iSOFT’s hospital information systems and support in a three-year agreement worth US $ 3.06 million. During the contract period, Hospital Diaconessenhuis Leiden will work with iSOFT to improve the efficiency and effectiveness of patients’ treatment.

Gary Cohen, IBA’s Executive Chairman and CEO, said: “We are now seeing the benefits of our renewed commitment to servicing our customers in the Netherlands since the acquisition of iSOFT 15 months ago. We are winning their confidence, and expect more customers to follow.”

Dr J G Den Hollander, the Diaconessenhuis Leiden Hospital’s Director of Operations, said: “iSOFT is a proven supplier providing trusted software applications, reliable support and trouble-free service. iSOFT’s systems help us to improve the quality of information for clinical staff and quality of care for patients. These are also fundamental to improving efficiency and effectiveness while driving down costs.”

Peter Herrmann, Managing Director of iSOFT Central Europe, said: “Our technologies not only create connections between existing systems, they create value by adding new functionality, and they’re also designed to integrate perfectly with developing technologies over the coming years. That’s the winning combination we provide – products that are both highly efficient and future-proof.”

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