NHS IT supplier iSoft sells assets to cut debt

iSoft, one the main software suppliers to the NHS, has sold iSoft Business Solutions to Capita. The supplier has also sold its patient records software Monet which helps GPs manage patients, appointments, recalls and reminders.The asset sale will...

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iSoft, one the main software suppliers to the NHS, has sold iSoft Business Solutions to Capita. The supplier has also sold its patient records software Monet which helps GPs manage patients, appointments, recalls and reminders.

The asset sale will make available $28.5m [£18m] to reduce iSoft'sdebts and pay fees related to refinancing. The company is reported to have $240m [£151m] of debt. 

iSoft's Chief Executive Officer Andrea Fiumicelli said: "While iSoft Business Solutions is a profitable business, its key products, Oracle's e-business suite and Integra financial accounting solutions, have little overlap with iSoft's proprietary core patient-focused healthcare IT business. 

"Given this, and our strong desire to reduce debt, the divestment was deemed appropriate and in line with our strategy of focusing on core patient-specific health care products going forward."

iSoft's share price is close to its all-time low. Few will be surprised if the company is sold. Where this would leave NHS trusts that have invested millions of pounds in iSoft software is unclear. Some trusts have taken the iSoft Lorenzo software from the NPfIT local service provider CSC.  


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