iSoft enters U.S. market with $15M BridgeForward purchase

Justine Varieur Cadet | | Health Exec | Informatics
Health IT software developer iSoft Group Limited has acquired application integration software developer BridgeForward, in a deal worth up to $14.9 million. The acquisition boosts iSoft’s portfolio of interoperable solutions for the healthcare market, and gives the Sydney, Australia-based company its first toehold in the United States.

The acquisition provides iSoft, which is part of the IBA Health Group, with an integration engine to accompany its Lorenzo Health Studio solution. In April, iSoft introduced Lorenzo at the 2009 Healthcare Information & Management Systems Society (HIMSS) convention in Chicago.

iSoft paid Middleton, Mass.-based BridgeForward shareholders an initial consideration of $4.9 million. A further earn-out, capped at $10 million, may be paid over about five years. BridgeForward will operate as subsidiary of iSoft from its offices in Massachusetts and London.

According to iSoft, BridgeForward’s latest release, Viaduct, enables users to design and build integration processes and is a graphical interoperability platform that enables legacy applications to participate in a service-oriented architecture (SOA). Viaduct also will also be embedded in SOA-based Lorenzo.

Justine Varieur Cadet

Related Content

Alabama security breach exposes personal information of cardiologists, heart patients
AI helps cardiologists deliver personalized healthcare—but there is still plenty of work to do
Best in KLAS 2024: New rankings for cardiovascular information systems, hemodynamic solutions
Best in KLAS 2024 rankings released, showcasing medical imaging IT systems
Cloud image storage for radiology is a growing trend in healthcare
Indiana hospitals reduce nuisance alerts by 77% with medication decision support software

Around the web

Cardiovascular Business
FDA says years-long tirzepatide shortage is resolved, will give limited leeway to compounders

The tirzepatide shortage that first began in 2022 has been resolved. Drug companies distributing compounded versions of the popular drug now have two to three more months to distribute their remaining supply.

AI in Healthcare
From Capitol Hill to a hospital near you? 5 federal recommendations for healthcare AI policy

The 24 members of the House Task Force on AI—12 reps from each party—have posted a 253-page report detailing their bipartisan vision for encouraging innovation while minimizing risks. 

Cardiovascular Business
Merck spends up to $2B to license new weight loss drug with potential heart benefits

Merck sent Hansoh Pharma, a Chinese biopharmaceutical company, an upfront payment of $112 million to license a new investigational GLP-1 receptor agonist. There could be many more payments to come if certain milestones are met.