Aussie IT major knocks at US mkt

MUMBAI: iSOFT Group Limited – that claims to be Australia's largest listed health information technology company has acquired U.S application integration software developer BridgeForward, Inc in a deal worth up to $ 14.9 million. The acquisition boosts iSOFT's portfolio of interoperable solutions for the global healthcare market, and also gives the company its first toehold in the United States.

The acquisition, which expands iSOFT's international footprint to 39 countries, provides iSOFT with a state-of-the-art integration engine that together with its own Lorenzo Health Studio solution provides the flexibility and interoperability called for in the U.S Government's drive to enable electronic patient record connectivity, adds a press release. In April iSOFT introduced Lorenzo Studio at the Healthcare Information & Management Systems Society (HIMSS) convention in Chicago.

"In BridgeForward, we have acquired intellectual property that will significantly enhance Lorenzo's flexibility and interoperability as a solution to fit health organizations across the entire spectrum of care," said Gary Cohen, Executive Chairman & CEO.

iSOFT paid BridgeForward shareholders an initial consideration of $ 4.9 million. A further earn-out, capped at $ 10 million, may be paid over about five years. BridgeForward will operate as subsidiary of iSOFT from its offices in Boston and London.