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iSoft annouce Lorenzo will be developed until 2012

16th July 2010

It has emerged that iSoft will continue to develop its Lorenzo electronic patient record software under the National Programme for IT (NPfIT) in the NHS until September 2012.

iSoftStand1

The announcement came to the Australian Stock Exchange, though iSoft has declined to comment what further releases will be delivered to the NHS, or whether trusts will face further delays.

The stock exchange statement said: “Following the delays with the roll-out of Lorenzo under its NPfIT contract, it is now expected that the development work on Lorenzo will continue until September 2012.”

The announcement follows uncertainty about how many releases of Lorenzo would be provided to trusts amid a climate of funding cuts within the NHS, most significantly the announcement by the previous government that £600m would be clawed back from NPfIT.

And more recently iSoft has cited political uncertainty in the UK for revising is full 2010 fiscal revenues down by about £17m leading to a fall in iSoft shares.

Isoft told the Australian Stock Market in June, that its revenue for fiscal 2010 was now in the range of £258m to £266m ($440 to $455) million, while EBITDA was likely to be in the range of £26m to £35m ($45m to $60m), compared the full fiscal 2010 outlook of 275m ($470m) and an EBITDA of £66m ($113m) announced in February.

Meanwhile, NHS chief executive Sir David Nicholson said at a briefing ahead of the white paper “Equity and excellence: Liberating the NHS” that within the next four weeks there would be clarifications of the future of NPfIT.

 

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Article Information

Title: iSoft annouce Lorenzo will be developed until 2012
Author: Mark Nicholls
Article Id: 15511
Date Added: 16th Jul 2010

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