Peter Dinham
Thursday, 13 August 2009 17:29
IT Industry -
Strategy
Page 1 of 2
Australia's largest listed health information technology company, iSOFT, has entered the US market for the first time with acquisition of application integration software group, BridgeForward, boosting its product offering with the addition of a broader range of interoperability solutions and services.
Under the deal iSOFT has paid upfront US$4.9
million upfront, with a further earn-out, capped at US$10 million,
which iSOFT will pay over a five-year period.
BridgeForward will operate as subsidiary of iSOFT from its offices in
Boston and London, and iSOFT says the deal boosts its portfolio of
interoperable solutions for the global healthcare market and gives the
company its first toehold in the US.
iSOFT executive chairman & CEO, Gary Cohen, says the BridgeForward
acquisition, which expands iSOFT’s footprint to 39 countries,
provides two major benefits to the company.
“First it’s an important toehold for us in the US market. President
Obama has recently signed into law an investment of over US$19 billion
to accelerate the adoption of computerised medical records. This is
directed towards interoperability of healthcare record between
healthcare providers.
“Our Lorenzo health studio product, together with the BridgeForward
product, is aimed at winning a slice of this new and growing market.”
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