Australia's largest listed health information technology company, acquired Belgium-based health IT company UltraGenda BV for as much as $16 million (€10.7 million) as part of the company's strategy of boosting its portfolio of innovative solutions and driving additional sales through bolt-on acquisitions.
UltraGenda generated an unaudited pre-tax profit of $2.6 million on revenue of $5.3 million for the last fiscal period. iSOFT paid an initial consideration of $12.4 million for the acquisition, to be followed by two payments of $1.9 million each in January 2011 and 2012 subject to revenue growth performance targets. The consideration will be paid in cash.
The deal provides iSOFT with an Enterprise-Wide Multi-Resource Scheduling software solution that enables healthcare organisations to schedule and manage appointments and resources to improve efficiencies within multiple operational provider facilities. The software is proven in a number of European markets including Belgium, Denmark, France, Germany, Netherlands, Norway, Spain, Switzerland and the UK.
UltraGenda's software can be used over the Internet and within provider organisations to enable patients and carers to book and schedule resources. The efficient use of appointments and facilities drives an improved patient experience and leads to greater operational efficiency and increased patient throughput.
The UltraGenda solution is integrated with iSOFT's hospital systems at a number of sites in the UK and Netherlands. The product is compliant with the NHS Spine in the UK, and contains functionality that can be incorporated into iSOFT's Lorenzo development roadmap for the National Programme for IT. The acquisition will significantly reduce the lead time for fulfilling the NHS's requirement for Enterprise-Wide Multi-Resource Scheduling functionality. UltraGenda provides functionality demanded by many large healthcare organisations, and can be deployed without replacing existing hospital solutions.
"UltraGenda has an outstanding reputation as a world-class niche software developer, and we warmly welcome them into the iSOFT fold," said Gary Cohen, Executive Chairman & CEO. "The deal is part of our strategy of building a comprehensive portfolio of solutions that can be leveraged across our global footprint, as well as providing an immediate boost to our Lorenzo roadmap under the National Programme."
UltraGenda, which will be managed by iSOFT's Continental European business unit, will be introduced to the global market in March as part of iSOFT's delegation at the Healthcare Information and Management Systems Society (HIMSS) conference in Atlanta and the World of Health IT conference in Barcelona.
Related news articles:
- iSOFT Group Limited's Profile
About iSOFT Group
iSOFT Group Limited (ASX: ISF) is the largest health information technology company listed on the Australian Securities Exchange, and among the world's biggest providers of advanced application solutions in modern healthcare economies. iSOFT works with healthcare professionals to design and build software applications that answer all of the difficult questions posed by today's healthcare delivery challenges. Our solutions act as a catalyst for change, supporting free exchange of critical information across diverse care settings and participating organisations. Today, more than 13,000 provider organisations in about 40 countries use iSOFT's solutions to manage patient information and drive improvements in their core processes. The group's sustainable development is delivered through careful planning, in-depth analysis of the market, and anticipation of our clients' evolving requirements. Our business is driven by the collective talent, experience and commitment of more than 4,700 specialists, including more than 2,700 technology and development professionals. A global network of iSOFT subsidiaries, supported by an extensive partner network, provides substantial experience of national healthcare markets. As a result, we offer our clients comprehensive knowledge of local market requirements in terms of culture, language, working practices, regulation and organizational structure.
About UltraGenda
UltraGenda is a leader in the field of IT solutions for the scheduling and management of appointments in healthcare. It offers robust, generic tools that support the scheduling process in all of its complexity, reducing inefficiency and improving service. UltraGenda provides tools that enable hospitals, HMOs and healthcare communities to complete a silent revolution - transforming themselves into lean and modern service organisations. UltraGenda is active across Europe, but also has a presence in other parts of the world such as the Pacific and the Caribbean, with a customer list that includes a multitude of leading hospitals. From its headquarters in Belgium, the company's specialised team continuously refines its product suite and solidifies UltraGenda's leadership in its niche.