iSoft scores $9.8m deal with UK NHS

ASX-listed health information technology provider extends contract with UK healthcare provider

iSoft (ASX:ISF) has secured a two-year $9.8 million contract extension from the UK’s NHS Shared Business Services (NHS SBS).

In a statement to the ASX, iSoft said the deal extends a $47.8 million deal signed in March 2008.

The health information technology provider will host NHS SBS Oracle applications and introduce HP hardware.

Earlier in March, iSoft moved to reassure investors that its FY10 financial guidance and work on the UK’s National Programme for IT (NPfIT) remains on track.

In an ASX statement the e-health provider said it was on track to achieving the agreed data for the roll out of its Lorenzo application at Cumbria's University Hospitals of Morecambe Bay NHS Trust under the NPfIT. This was contrary to recent speculation in media reports.

For the half year to 31 December 2009, iSoft recorded declines across its revenues, after tax profits and EBITDA.

The company recorded revenue of $237.3 million; down 1 per cent year on year. EBITDA of $40.8m; down 27 per cent over the same period and net profit after tax of $4.8m, down 27 per cent.

According to CEO Gary Cohen, the global health IT industry remained strong, however the high Australian dollar had had a large impact on the first half results.

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Tags businesse-healthiSOFTNational Programme for IT (NPfIT)

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