Office of Fair Trading clearance decision subject to divestment of Torex LIMS business

Posted on March 25, 2004 By Corinne Jones News

Manchester, UK, 24 March 2004 – iSOFT is delighted with the decision announced today by the OFT relating to the completed acquisition by iSOFT of Torex plc. The OFT has decided to clear the merger subject to undertakings being negotiated relating to the divestment of Torex’s UK Laboratory Information Management Systems (“LIMS”) business which will be subject to a statutory consultation process. This business had an audited turnover of £2.1 million in 2002. This undertaking had previously been offered by iSOFT to the OFT.

Commenting on the decision, Tim Whiston, Chief Executive of iSOFT, said: “We are very pleased with the OFT’s clearance decision subject to the undertakings which iSOFT had already offered relating to the disposal of the small LIMS business. We look forward to the speedy conclusion of the consultation process and the agreement of the undertakings.

Post the disposal of the LIMS business we look forward to completing the integration of the two businesses and realising the significant synergies available to us. The iSOFT business remains extremely well positioned and we look forward to taking advantage of the opportunities open to us in our marketplace, both in the UK and internationally.

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by Corinne Jones