UK's iSoft falls on critical software report

28 Aug, 2006

Shares of troubled healthcare software firm iSoft fell again on August 22 following a newspaper report of a critical review of the firm by two of the consultancies managing a 6.2 billion pound ($11.7 billion) IT upgrade for Britain's public health service.
The Guardian newspaper on Monday reported that a review by US consultants Accenture and CSC Alliance, the two groups iSoft is providing software to, showed there were many areas of "acute" concern over the Lorenzo system that iSoft is developing for the health service project.
A spokesman for iSoft said: "This is a report from February and a lot has happened since then. We will be updating on progress when we announce our results."
By 0847 GMT iSoft shares were down 3.7 percent at 46-1/4 pence, just off an all-time low of 43-1/4 pence.
Shares in the beleaguered firm have plunged around 90 percent so far this year, hit by a string of problems and profit warnings related to the technology upgrade for the National Health Service.

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