iSoft's investment plans

By Our Corporate Reporter

CHENNAI, AUG. 2. iSoft group, one of the world's fastest growing suppliers of application systems for hospitals and healthcare organisations based in the U.K., has announced an increase in its investment and staffing targets in India. The company, which opened its product development centre in Chennai in January this year, has focus on providing customers throughout the world with the most advanced software available in the healthcare systems.

The Chennai centre actually serves as an extension of the company's global R&D headquarters in England.

Addressing presspersons here today, Mr. Patrick Cryne, Chief Executive Officer, iSoft group, said `iSoft's focus on healthcare, in territories committed to investment in healthcare modernisation, had enabled it to expand its commitment to R&D despite adverse market sentiment for many other technology companies. He said the group started with an initial investment of $1 million in Chennai and the growth was in line with expectations. The investment at present was $6.75 million and the plan was to have a total investment of $22.5 million in three years, he said.

Mr. Ravi Kumar, Chief Executive of iSoft Global product development division based in England said the Chennai centre, which had 37 professionals, would have around 75 professionals by the year end and the centre would play a key part in the development of iSoft products globally.

Mr. Ravan Boddu, chief executive of the Chennai centre said there was no plan at present to market the products in India though they were receiving lot of enquiries.

The company, which is listed on the London Stock Exchange, has reported a turnover of $45 million and a profit of $10 million in the year ended December 2000 against $25.5 million and $4.5 million in the previous year.

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