MISYS plc Statement Re: Dispute with iMedica Corporation
Misys plc (FTSE: MSY.L) announces that Misys Healthcare Systems, LLC (MHS) has received a letter sent on behalf of iMedica Corporation (“iMedica”) in respect of a contract dispute relating to the OEM Agreement (the “OEM Agreement”) entered into between MHS and iMedica announced on 28 August 2007.
The letter purports to terminate the OEM Agreement under which MHS licenses certain iMedica health and practice management software marketed under MHS’s Misys MyWay brand.
MHS strenuously disputes the basis of the purported termination and is negotiating in good faith with iMedica to resolve the issue.
Existing MHS Misys MyWay customers are unaffected by this contract dispute and, should the OEM Agreement terminate, there would be no material adverse impact for Misys. MHS’s 18.4% stake, on a fully diluted basis, in iMedica is also unaffected.
A further announcement will be made if appropriate.
MEDIA INQUIRIES
Carl Gibson
T: +44 (0) 20 3320 5526
T: +1 917 804 0910
M: +44 (0) 782 523 6473
Email: carl.gibson@misys.com
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About Misys plc
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world’s top 50 banks. In healthcare, Misys is a market leader, serving more than 110,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 people who serve customers in more than 120 countries.
We aspire to be the world’s best application software and services company, delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results
Contact us today, visit: www.misys.com