iSOFT Group plc today announces that it has completed the acquisition of 100% of the share capital of Novasoft Sanidad, the leading independent provider of healthcare applications in Spain.
Consistent with iSOFT’s stated strategy of expanding its international reach into exciting new growth markets, the acquisition is the first step in building a dedicated new business unit called iSOFT Iberia to focus on the region. More specifically, it represents a successful strategic entry into the Spanish healthcare applications market at the start of a significant period of healthcare service reform and associated technology investment.
Commenting on the completion of the deal Francisco Barrionuevo, Novasoft Chairman and CEO explains: “Whilst the founders of Novasoft succeeded in creating one of the leading healthcare systems vendors in the Spanish market, it was clear that the emerging market reforms would lead inevitably to supplier consolidation. As such we have chosen to take this opportunity to allow the parent company (Novasoft Corporation) to concentrate on its non-healthcare business interests.”
Commenting on the establishment of iSOFT Iberia, Group Chief Executive Tim Whiston said, “In many of the modern economies around the world, healthcare reform initiatives are stimulating a new wave of investment in modern application solutions. Typically, procurements are now conducted on a regional basis, a trend now clearly evident in the Spain. It is also increasingly the case that these large-scale procurements demand access to supply from substantial international groups, rather than the existing indigenous supplier community. The creation of iSOFT Iberia now positions us extremely well to respond to the emerging market opportunity by combining the reputation and investment capacity of iSOFT with the local talent, experience and market knowledge that exists within Novasoft Sanidad.”