Corporate Updates

iSOFT enters the U.S market

iSOFT Group Limited, Australia’s largest listed health information technology company today announced it acquired U.S application integration software developer BridgeForward, Inc in a deal worth up to US$ 14.9 million (A$ 17.9 million). The acquisition boosts iSOFT’s portfolio of interoperable solutions for the global healthcare market, and also gives the company its first toehold in the United States. The acquisition, which expands iSOFT’s international footprint to 39 countries, provides iSOFT with a state-of-the-art integration engine that together with its own Lorenzo Health Studio solution provides the flexibility and interoperability called for in the U.S Government’s drive to enable electronic patient record connectivity. In April iSOFT introduced Lorenzo Studio at the Healthcare Information & Management Systems Society (HIMSS) convention in Chicago. ‘In BridgeForward, we have acquired intellectual property that will significantly enhance Lorenzo’s flexibility and interoperability as a solution to fit health organizations across the entire spectrum of care,’ said Gary Cohen, Executive Chairman & CEO. ‘We welcome BridgeForward to the iSOFT fold, and look forward to working with their talented staff as we boost our impressive offering of solutions for the U.S marketplace.’

iSOFT paid BridgeForward shareholders an initial consideration of US$ 4.9 million (A$ 5.9 million). A further earn-out, capped at US$ 10 million (A$ 12 million), may be paid over about five years. BridgeForward will operate as subsidiary of iSOFT from its offices in Boston and London. Founded in 2005, BridgeForward has become one of the leading providers of application integration technology in healthcare. The team has more than 15 years experience helping healthcare providers reduce the challenges associated with data integration and data migration. The company’s solutions are installed in more than 4,000 organizations in the U.K, U.S, Canada and Europe, including Partners HealthCare in Boston and Cleveland Clinic. BridgeForward’s latest release ‘Viaduct

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