German healthcare information technology developer CompuGroup has made an all cash offer of €238 million ($329.11 million, U.S.) for U.K.-based healthcare software systems developer iSOFT. Directors of the Koblenz, Germany-based CompuGroup believe that the combination of the firms will create one of the world's leading healthcare software companies, with operations in more than 16 countries.
As part of the offer, CompuGroup has reached agreement with Computer Sciences Corporation (CSC) on a mutually satisfactory solution which will enable CSC to take full control of certain of its obligations in respect of the National Program for Information Technology (NPfIT), the National Health Service’s program to deliver integrated electronic patient records across England.
Also, as part of the agreement, CompuGROUP will sell parts of iSOFT’s U.K. business established under the NPfIT to CSC for an undisclosed consideration. This business includes development and delivery of the Lorenzo software for the National Health Service in the U.K.
CompuGroup reported that its offer has been unanimously recommended by the iSOFT board of directors and that it does not anticipate any significant regulatory hurdles for the completion of the proposed transaction.