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ISF, ISOFT GROUP LIMITED
ShareScene.com
post Posted: Aug 25 2011, 11:52 AM
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Delisted following completion of the scheme of arrangement whereby all the Company's ordinary shares were acquired by CSC Computer Sciences Australia Holdings Pty Limited on 03/08/2011.

 
jwlkr
post Posted: Apr 1 2011, 01:05 PM
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Monday 4th April iSoft is expected to emerge from trading halt. The 3 trading days leading up to the company requested suspension resulted in a rise from $0.03 to $0.052 per share. And the story thus far...



Electronic Medication Management Implementation

Within months of implementing the iSOFT Medication Management system (formerly known as MedChart), the Dunedin Hospital on New Zealand's South Island saw a significant reduction in medication error and an increase in staff efficiency.


Led by Dr Andrew Bowers, the project introduced electronic prescribing and medication administration to medical wards at the 388-bed hospital. While it has not been without difficulty, Dr Bowers and colleagues have succeeded in engaging staff and defining the medication management system to suit their needs, and to improve their ability to deliver quality care.




Buyout rumours, pending strategic review





ISoft is a major supplier to the British government, which is in the midst of a pound stg. 12.7 billion ($20bn) overhaul of the National Health Service's IT systems. (CSC subcontracted iSoft to carry out the work before the IBA

Several media outlets have speculated over the past 24 hours that iSOFT will be bought by CSC, which has a substantial Australian presence, including in the e-health arena.

“It’s believed IT services giant CSC, which is iSoft’s biggest customer, could finalise a more than $300m takeover deal for the company as early as today,” The Australian wrote this morning.

“Virginia-based CSC, listed in New York with a market value of US$7.5bn (£4.6bn), is now regarded as the most likely buyer for iSoft given their contractual ties across the Midlands and east and north of England, particularly in relation to the software group’s controversial next-generation Lorenzo platform,” wrote The Guardian newspaper in the UK.




A Brief History


In June 2007, CSC reportedly considered making a cash bid for a cash-strapped iSoft, which was listed on the London Stock Exchange at the time.

CSC later approved a $333 million merger between iSoft and Australian e-health company IBA Health in a deal that was finalised on 30 October 2007. IBA Health was renamed iSoft in May 2009 (pdf).

But share prices continued to fall from about $0.66 in May 2009 to $0.052 currently.

iSoft reported a net loss of $84 million for the half year ending December 2010, and a loss of $383 million for the 2009-10 financial year.



CSC and iSoft have collaborated on supplying iSoft’s Lorenzo healthcare records system to the British Government since 2004. The original agreement covered software releases, deployment and maintenance until January 2016.

The halt follows a run of increasingly bad news from the company. Last month it reported an $84.1 million net loss in the first half of the 2011 financial year due to restructuring costs and impairment charges. The company, which had made a $4.8 million profit in 1H10, spent the most recent half attempting to restore the financial health of the business.

In December it began selling off parts of its business to pay down its debts. The first to go was its financial management solutions unit, iSoft Business Solutions (iBS), to Capita Group PLC.

Earlier in the month it appointed acting chief executive, Andrea Fiumicelli, as its new permanent CEO. Fiumicelli was named acting CEO in September, following the resignation of Gary Cohen from the position.

September saw the announcement that the company would lay off 800 staff, constituting 17 per cent of its total workforce, over the next financial year in a bid to halt its sliding financial fortunes.




Compensation and Recouperation


The deal is expected to allow lenders including Barclays, Westpac, Bank of Ireland, Santander, Clydesdale and KfW Bankengruppe to recoup their loans and pay back major shareholder Oceania Capital Partners (formerly Allco Equity Partners) which holds about $40m in convertible notes.

But Oceania -- which bought into the company in late 2007 at 80c a share -- and iSoft's other shareholders including Maple-Brown Abbott and Orbis are unlikely to receive much more than the 5c a share the stock last traded at. Shares in iSoft had a bit of a run before being suspended from trading last Thursday, rising from 3c earlier last week.



 
sirob
post Posted: Mar 24 2011, 11:49 AM
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In Reply To: markus's post @ Mar 23 2011, 11:56 AM

QUOTE
Gangbusters today - up 25% - needed to after a major battering and recovering from lows of 3c.


Another big rise this morning before the trading halt, it's high time the regulator got off their
arse and investigated those earlier trades, absolutely blatant insider trading IMO. Let's see what transpires, probably nothing as usual.




 
daggie
post Posted: Mar 23 2011, 03:38 PM
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In Reply To: markus's post @ Mar 23 2011, 11:56 AM

Yes Markus, IF ONLY they could get their debt down, downsize their management numbers, more good contracts - well - there might be a little bit of a green light for us poor sufferers.


 
markus
post Posted: Mar 23 2011, 11:56 AM
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In Reply To: hungry's post @ Jan 24 2011, 03:09 PM

Gangbusters today - up 25% - needed to after a major battering and recovering from lows of 3c. It's got massive potential if they can only get a few more juicy contracts and reduce the debt.

 
hungry
post Posted: Jan 24 2011, 03:09 PM
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In Reply To: bing's post @ Jan 24 2011, 02:57 PM

58c would be nice.
Watching & waiting for a sign of a turnaround here.
Thought there might have been something started in early Dec 10, but it faded out.
Hopefully it will build a base around here first, before any sustained rally.
Finger is getting twitchy.




 


bing
post Posted: Jan 24 2011, 02:57 PM
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After all this news I purchased quite a lot of shares, hoping it will perform in
the next 12 months.

Based on a investment report last year from Macquarie Research expecting that iSoft's
12 months price target could be 58c.


Said 'Thanks' for this post: daggie  
 
bing
post Posted: Jan 24 2011, 02:48 PM
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Directors leave iSoft

Date: 4 January 2011
Author: Brian Corrigan
Source: The Australian Financial Review --- Page: 40
Software development company, iSoft, has lost two non-executive directors.Claire Jackson
(been there 6 yrs)and Peter Wise (been there 11 yrs) told shareholders at the company's
AGM that they wanted to leave. Their departure was confirmed in a note to the Australian stock
exchange on 31 December 2010

 
bing
post Posted: Jan 24 2011, 02:46 PM
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iSOFT Group director buys on-market

Published 3:20 PM, 5 Jan 2011
Source: News Bites

iSOFT Group Ltd director Ronald Charles Series indirectly bought 400,000 shares for $30,053 on-market on December 29, 2010.

He indirectly holds 400,000 shares.

STOCK DASHBOARD: January 05, 2011

Isoft Group

Price at 2:00 pm: 7.10c

Price change from previous trading day: -2.7%

Relative Strength (6 months percentile rank): 0.4

Market capitalisation: $76 million

Turnover volume: 625,086.0

Volume Index (1 is average): 0.1

Turnover value: $45,376

Turnover period: 7 months

Value of $1,000 invested 1 year ago: $97

Source: www.BuySellTips.com
----------------------------------
iSoft Group director buys on-market

Published 5:38 PM, 3 Dec 2010
Source: News Bites

iSoft Group Ltd director Peter John Housden indirectly bought 125,000 shares for $10,125 on-market on December 1, 2010.

He indirectly holds 125,000 shares.

STOCK DASHBOARD: December 03, 2010

Isoft Group

Price at 4:20 pm: 8.20c

 
markus
post Posted: Oct 1 2010, 01:25 PM
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In Reply To: bing's post @ Oct 1 2010, 12:03 PM

Thanks Bing - I'm the eternal optimist and will hang in there for the potential corporate activity/takeover

 
 


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