Australian health software maker IBA is set to finally acquire British vendor iSoft, following a long and drawn-out takeover campaign.
Last week iSoft recommended that shareholders accept a revised offer of 69 pence per share, which IBA made following an offer of 66p per share by Germany’s CompuGroup. CompuGroup’s offer was itself an advance on IBA’s original scrip-for-scrip offer of 1.1 IBA shares for every iSoft share, made earlier this year.
When that offer was made, CSC, a fellow contractor with iSoft on Britain’s NPfIT (National Programme for IT) health IT project, invoked a clause in its NPfIT contract that allowed it to veto such a move, claiming the takeover may affect the delivery of iSoft’s Lorenzo system, a key part of the project.
The matter was later resolved, and would-be buyers were able to put in bids for iSoft.
Most New Zealand District Health Boards are iSoft customers.