Essential reading for the healthcare business
 
 
Remember me:
Skip Navigation LinksHealthInvestor article
iSoft forced to slash costs

Troubled NHS software supplier iSoft has been forced to go to its banks to ask for more favourable borrowing terms, and to draw up plans for a "significant reduction in costs", which could include job losses.

The move follows a string of negative trading updates by the company over the last few weeks.

iSoft’s software package Lorenzo, which the company is due to roll out across two thirds of England’s hospitals, was installed this month at a large NHS trust six years after the first of many deadlines was missed.

The following day, however, the company issued a profits warning telling shareholders the latest milestone payment had been delayed.

The setback meant about half of its A$100 million (£58 million) operating profits for 2010 are delayed.

The company now anticipates much lower revenues going forward, the company said in a statement, suggesting that any new deal between Computer Sciences Corporation, the consultancy responsible for installing Lorenzo, and the Department of Health, would see a greatly reduced introduction of the software.

 

 

 

 

Posted on: 16/06/2010

Latest news stories

16/10/2019
Private equity firm Synova Capital has made a significant minority investment in Preventx, a Sheffield-based provider of online-led sexual health testing and diagnostic services.
15/10/2019
Access to services is proving difficult across the health and social care sector, particularly for those with long-term mental health needs or learning disabilities.
14/10/2019
Campaigners have slammed the government for a lack of concrete proposals in the Queen's Speech to address the crisis in social care provision in England.
11/10/2019
Greenbrook Healthcare, a provider of urgent care services to the NHS in Greater London, has been awarded a new contract worth approximately £8.3 million.
11/10/2019
Troubled social care Four Seasons Health Care has sold its freehold care homes to H/2 Capital Partners for £350 million.


Civica


HealthInvestor blog
The UK health investment community is doubtless following the twists and turns of the Brexit process with a certain horrified fascination and not a little disbelief. But can it possibly be that we will leave the EU without a deal?

Click here to view the HealthInvestor blog


As Kingsley Healthcare celebrates its 20th anniversary year, chief executive Daya Thayan talks to HealthInvestor UK about changes to the market, including a “seismic shift” towards home care, and the challenges and opportunities ahead
After an achievement-packed career as a health and social care entrepreneur, Dr Chai Patel is about to retire. Here he talks to Geoff Hodgson about the changes he has witnessed, and others he would like to see
From a seedling of innovation progressing to global investment, Barrie Hayes-Gill, professor of electronic systems and medical devices at the University of Nottingham, shares his 30-year journey as the academic founder of Monica Healthcare and Surepulse Medical
NHS primary care networks went live in England on 1 July. Catherine Gooderham explains what they are and examines the opportunities they present for private sector providers
Kathy Oxtoby talks to a former doctor who has developed a medical communication device that aims to revolutionise patient care by ensuring the safe handling of patient data, and providing a secure means of communication for clinicians

Click here to search all feature articles



Digital primary care

Earlier this year, the UK digital primary care market felt full of potential for investors but who are the players and what are the products that stand out now that the dust has settled? Kathy Oxtoby investigates
Read more


Christie + Co

my images



Domiciliary Care
Rob Munro talks to the head of one of the country's leading domiciliary care providers about challenges and opportunities in a sector where many companies have foundered
Read more