CSC Finalizes iSOFT Acquisition
News Release -- July 31, 2011
Deal Accelerates CSC’s Strategic Growth Plan and Enhances Position in Global Healthcare IT
FALLS CHURCH, Va., July 31 – CSC (NYSE: CSC) today announced it has closed the acquisition of iSOFT Group Limited (ASX: ISF), one of the world’s largest providers of advanced healthcare IT solutions. The acquisition complements and strengthens CSC’s market-leading software products and healthcare integration and services portfolio, and enhances its healthcare research and development capabilities. It also accelerates CSC’s strategic growth plan and reinforces the company as a very strong player in healthcare information technology.
Adding iSOFT’s 3,000 global employees, including those from major research and development centers in India, Spain, UK, Australia, New Zealand and Central Europe, expands CSC’s capability to support existing customers, develop more innovative solutions, and adds a robust set of clients in new and emerging markets.
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 1,000 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 over 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.
“The completion of this acquisition is a milestone in the expansion of our global healthcare business,” said Michael W. Laphen, CSC chairman, president and CEO. “CSC is at the forefront of emerging healthcare technologies, giving our clients access to an expanded range of innovative capabilities.”
“Joining forces with CSC is a major step forward for iSOFT, putting us in a position to accelerate the delivery of our Innovation Agenda”, said Andrea Fiumicelli, former CEO of iSOFT and newly-appointed Chief Operating Officer of CSC’s healthcare business. “By combining both organizations we have created a major force in the healthcare industry with significant opportunities for future growth through richer solutions and much enhanced access to the global market. Building on this platform, our ambition is to become one of the world’s leading healthcare IT suppliers.”
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 91,000 employees and reported revenue of $16.0 billion for the 12 months ended April 1, 2011. For more information, visit the company's website at www.csc.com.
About iSOFT Group
Prior to its acquisition by CSC, iSOFT Group Limited was the largest health information technology company listed on the Australian Securities Exchange, and among the world’s biggest providers of advanced application solutions in modern healthcare economies.
iSOFT works with healthcare professionals to design and build software applications that answer all of the difficult questions posed by today’s healthcare delivery challenges. Our solutions act as a catalyst for change, supporting free exchange of critical information across diverse care settings and participating organizations.
Today, more than 13,000 provider organizations in over 40 countries use iSOFT’s solutions to manage patient information and drive improvements in their core processes. The group’s sustainable development is delivered through careful planning, in-depth analysis of the market, and anticipation of our clients’ evolving requirements. Our business is driven by the collective talent, experience and commitment of more than 3,000 specialists in 19 countries worldwide.
A global network of iSOFT subsidiaries, supported by an extensive partner network, provides substantial experience of national healthcare markets. As a result, we offer our clients comprehensive knowledge of local market requirements in terms of culture, language, working practices, regulation and organizational structure.
All statements in this press release and in all future press releases that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements represent the Company’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company’s control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year ended April 2, 2010 and any updating information in subsequent SEC filings. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent event or otherwise, except as required by law.