Companies
iSOFT still working towards recovery
iSOFT, which the
Financial Services Authority is still
investigating over accounting irregularities, said it is in much better shape
than a few months ago.
Announcing its results for the six months to 31 October
2006, the software company for the healthcare sector, said that it had launched
a two-year turn around plan in September and improvements were being made by
reducing costs, appointing new management and reorganising the product offering.
Lombard in the Financial
Times (12 December) commented that iSOFT’s financiers, customers and
shareholders were still many months from being able to celebrate a recovery. The
banks, for instance, are still reluctant to commit to funding beyond November
2007 and potential and existing customers are still worried.
Discussions are ongoing following iSOFT’s previous
announcement that it had been approached by parties wishing to acquire a large
shareholding in, or creating a strategic alliance with, the company.
Links
iSOFT
Financial Services Authority
Financial Times
January, 2007 |
