The British company that signed a €56 million contract with the Health Service Executive (HSE) last year announced annual losses this morning.
ISoft, which is provide an electronic patient records system for hospitals in Ireland, announced the losses of £343.8 (€507.5 million) for the year to April 30th, including an impairment charge of 518.7 million.
ISoft has seen its share price drop by 90 per cent this year, and earlier this month it suspended its chief operating officer after discovering irregularities in its 2004 and 2005 accounts.
The company has been paid €10 million by the HSE to provide an electronic patient records system for hospitals.
The HSE announced this week that it was monitoring developments within the firm with which it signed the €56 million contract last year.
The company has also been hit by problems related to a €9.1 billion project to upgrade computer systems for Britain's public health service and said yesterday it was being investigated by the UK financial services watchdog for possible accounting irregularities.