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iSOFT, the troubled UK IT firm, is likely to be sold within weeks as three bidders have been lined up to acquire the business. Two US health firms - Cerna and McKesson, as well as a US private equity firm, General Atlantic Partners, have met management of Computer Sciences Corporation (CSC) to discuss a possible £200m purchase. CSC subcontracts work with the National Health Service to iSoft and so plays a pivotal role in negotiations.
ISoft was contracted to develop a major Euro56m computerised patient record system for Irish hospitals.
The work has become mired in controversy, while iSoft has also been the target of a major accounting probe in the UK. Before Christmas, the Sunday Tribune reported that iSoft had been unable to provide a critical insurance bond to the Health Service Executive (HSE) that would ensure the controversial Irish project will be completed if the company goes bust. iSoft admitted that it also breached a further contract clause with the HSE.
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YOU ARE HERE: 11 November 2007 / tribune.ie / 2007 / 01 / 28
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