iSoft share price hits record low

The share price of NHS software supplier iSoft has fallen to a new low. The company supplies the "Lorenzo" patient administration system to CSC. Under £3bn worth of contracts under the National Programme for IT [NPfIT] CSC is due to deliver...

Share

The share price of NHS software supplier iSoft has fallen to a new low. 

The company supplies the "Lorenzo" patient administration system to CSC. Under £3bn worth of contracts under the National Programme for IT [NPfIT] CSC is due to deliver iSoft's Lorenzo system to dozens of NHS trusts.

Other iSoft software, including the "iCM" clinical management and "iPM" patient administration system, is used widely in the NHS.

Today, for the first time, iSoft's share price fell below 10 Australian cents, which is about six pence sterling. Its share price reached a high of about 1.52  Australian dollars in 2007 which is about 95 pence sterling.

iSoft and CSC went live with Lorenzo 1.9 at Morecambe Bay in June 2010 though the two suppliers have yet to be paid for reaching the important milestone. The Department of Health's CIO Christine Connelly has said that the Lorenzo implementation at University Hospitals of Morecambe Bay NHS Foundation Trust and at NHS Bury need to stabilise before they can be signed off by the trusts.
 
iSoft's relationship with CSC has at times been tense. In June iSoft issued a formal apology to CSC. iSoft announced earlier this month it is marketing a version of Lorenzo - Lorenzo Enterprise - directly to NHS trusts, outside of its contract with CSC. 

At times iSoft has made upbeat announcements on the company and Lorenzo, only to find that reality has not always met expectations. 

The irony of iSoft's low share price is that Christine Connelly, the Department of Health's CIO, has recently expressed her confidence in the future of Lorenzo. 

She said last month at a press conference in London: 

"We have invested a lot - and I don’t just mean in money -  in CSC’s development of Lorenzo. The clinical teams who have worked on that ... remain positive about the potential that that product offers us and they would like to see that delivered. So our objective is to get quality systems into the health service.

"If our objective was to save the money, then we would not have started at all. The Coalition Government is committed to information and technology and healthcare. So what we would like to see is a good quality product in Lorenzo that can be easily deployed, or more easily deployed, in the trusts who want to have it."

Links:


NHS Wirral drops Lorenzo - E-Health Insider 

iSoft falls on hard times - Health IT news

iSoft moves forward in Wales - Health Imaging 


The NPfIT is not dead - this blog

Promoted