iSoft and Lorenzo - the good news keeps on coming?

Below are excerpts from the iSoft’s annual report, which is published today [1 September 2009] in Australia. IBA Health in Australia acquired iSoft and has now adopted its name.

The annual report is upbeat about iSoft’s Lorenzo, the much-delayed software which is at the heart of the NPfIT, the National Programme for IT.

Lorenzo is due to be installed by local service provider CSC in three of the five regions into which the NPfIT scheme in England is split.  

iSoft describes itself as the “world’s largest healthcare information technology company in terms of our global footprint”.

These are some of the statements in the iSoft annual report. They’re by iSoft or Gary Cohen, who’s Executive Chairman and CEO of iSoft Group Ltd.

“Today, having succeeded beyond our expectations, iSoft can truly take its place
as a global leader in healthcare information technology.

“In the past year we have strengthened our global footprint, refreshed each of our
businesses, and reinvigorated relationships with our customers….

“The mix of revenue sources across licence fees, maintenance and support and professional services, provides a stable flow of income that is not overly dependent upon newly contracted software licences….

“During the year Lorenzo Regional Care Release 1 was successfully implemented at three NHS trusts in Morecambe Bay, Bradford and South Birmingham. ..

“The clarity surrounding the implementation of Lorenzo Regional Care in England has resulted in greater understanding of the solution’s capabilities among customers in other markets….

“I believe we are poised to reap further rewards as iSoft continues to focus on generating cash and rolling out leading solutions.

“In Lorenzo, our next-generation product, we have transformational intellectual property to support the inevitable digitisation of health records, while our portfolio of core products is installed across a diverse customer base worldwide.

“Today 60% of all NHS Trusts have one or more iSOFT solutions…

“iSOFT Group’s financial performance was solid during what was a challenging year for the wider economy. Substantial progress was made against all key measures. Revenue achieved was within guidance. EBITDA [Earnings before Interest, Taxes, Depreciation, and Amortization – a non-GAAP metric] and EBITDA margin exceeded guidance.

“Net profit was up 137%….”


iSoft Group annual report

iSoft NHS case study – Salford Royal Hospitals NHS Trust

NPfIT executives will stand by Lorenzo – IT Projects blog

iSoft announces legal proceedings against CSC – E-health Insider, 2007