In April, CSC announced it has signed an agreement to acquire all of the outstanding equity of iSOFT Group Limited, one of the world's largest providers of advanced healthcare IT solutions, by way of a court-approved scheme of arrangement. The acquisition will complement and strengthen CSC's market-leading software products and healthcare integration and services portfolio, while enhancing its healthcare research and development capabilities. It will also accelerate CSC's strategic growth plan in the life sciences market and reinforce the company as a very strong player in healthcare information technology.
Closing of the transaction is expected during CSC's Q2FY12, and is subject to various conditions, including, among others, iSOFT shareholder approval and certain Australian and EU regulatory approvals.
Adding iSOFT's 3,300 global employees including those from major research and development centres in India, Spain, UK, Australia, New Zealand and Central Europe, will expand CSC's capability to support existing customers and develop more innovative solutions.
"The combination of these companies will further establish CSC as an innovative leader in global healthcare IT," said Michael W. Laphen, CSC chairman, president and chief executive officer. "Through our combined experience in global healthcare delivery, complementary world-class healthcare software solutions, and enhanced capabilities in system integration, outsourcing and process management, we are forming a compelling lifecycle of services to better serve our global clients and improve patient care."
More than 13,000 healthcare providers and governments in 40 countries use iSOFT's e-health software solutions to manage patient information and drive improvements in their core processes. With the expertise and experience of more than 1,300 development professionals and more than 200 clinicians, iSOFT solutions touch more than 200 million patients across five continents every day, and its systems are installed in more than 8,000 hospitals and clinics. This scale has allowed iSOFT to keep abreast of the latest trends in healthcare technology and practices and translate them into innovative and practical solutions.
"iSOFT's Electronic Health Record software and services, coupled with CSC's global healthcare expertise and delivery capabilities, will create a very powerful force in the global healthcare market to enhance the provision of integrated care," said Andrea Fiumicelli, chief executive officer of iSOFT. "This is a great development for iSOFT's employees as they will have the opportunity to continue their important work in healthcare IT whilst developing their careers across CSC's global business."