the good the ugly november 2010

THE GOOD:

a) Renewal of ?3m contract

The Canisius-Wilhelmina Ziekenhuis Hospital in Nijmegen, the Netherlands, has signed a ?3m contract with iSoft for continued support of its hospital. "Due to our long standing partnership with iSOFT and the superb experience we have made with the offered solutions we have decided to renew the existing contract", The new deal includes an innovation budget of EUR100,000 a year to trial and implement cutting edge technologies to further optimize clinical processes and so improve efficiency and quality and reduce costs at the 650-bed hospital.

b) Medication Errors Reduced 60% with iSOFT's MedChart.
Prescribing errors are the most frequent type of medication errors in hospitals. Following introduction of MedChart, the iSOFT Medication Management solution, overall prescribing errors per patient were more than halved.

c) iSoft promises new UK products.
ISoft has pledged to invest in the development of new products for NHS customers, separate to its Lorenzo development commitments.?We have about 45% share of the current patient administration system market and a 60% share of the pathology market,? Stevens said.

?Lorenzo gets all the headlines, but 95% of trusts have an iSoft solution in use at the moment, we have a very strong presence on PAS, departmentals, pathology, A+E, theatres and ICU.

THE UGLY

a) Banks hard stand

iSoft, which is reviewing its business with adviser UBS, said yesterday the maturity of two non-current debt facilities worth pound stg. 82.5 million ($134.4m) had been brought forward by more than a year to March 15, 2012.

The two tranches were to mature on June 23, 2013, but were brought forward after conditions were not met by Monday, November 15.

b) Former auditors to iSoft, the NHS software supplier which secured a high court gagging order against a Guardian investigation into its accounts six years ago, are to be the subject of a disciplinary hearing following an investigation by the Accountancy & Actuarial Discipline Board.