iSOFT Group Limited (ASX:ISF) Boosts Solutions Portfolio With UltraGenda Acquisition

Sydney, Feb 22, 2010 AEST (ABN Newswire) - iSOFT Group Limited (ASX:ISF) Australia's largest listed health information technology company today announced it acquired Belgium-based health IT company UltraGenda BV for as much as A$16 million (EUR10.7 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 A$2.6 million on revenue of A$5.3 million for the last fiscal period. iSOFT paid an initial consideration of A$12.4 million for the acquisition, to be followed by two payments of A$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.

Contact

Gary Cohen Executive Chairman & CEO iSOFT Group Limited Tel: +61-2-8251-6700 Email: gary.cohen@isofthealth.com Stuart Kelly Director, Corporate Affairs iSOFT Group Limited Tel: +61-2-8251-6769 Mob: +61-404-082-361 Email: stuart.kelly@isofthealth.com