iSoft board reshuffled

Chairman and director depart

Health software group iSoft, which has a presence in all New Zealand’s 21 district health boards, has had major changes at board level.

Executive chairman Gary Cohen has stepped down in favour of Robert Moran, managing director of iSoft’s largest shareholder, Oceana Capital Partners. His is a non-executive role.

Cohen will continue as chief executive of Australia’s largest listed health IT company.

Executive director Steve Garrington has resigned from the board, as has Jim Fox. Garrington will continue as head of business development.

iSoft recently halved its 2010 financial year EBITDA forecast to $A45-65 million on expected revenue of $440-455 million. It blamed the lower forecast on delays in roll-outs in the UK which were beyond its control and uncertainties there about the change of government.

Shares in iSoft had reached a low of 24.5 cents. Their most recent high was 88 cents last October.

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