IDX closes strong 2003, adds clients

Healthcare informatics developer IDX Systems reported revenues for the fourth quarter of fiscal 2003 of $108 million, compared with $93 million in the fourth quarter of 2002. Sales for the 12-month period (end-December 31) were $400 million, up 15% compared with revenues of $348 million for the same period in 2002.

The Burlington, VT-based vendor swung into the black for the fourth quarter with a net profit of $12.2 million, compared with a net loss of $1.1 million in the same period last year. For the fiscal year, IDX reported net income of $58.4 million, compared with income of $10 million for fiscal 2002.

The firm raised its guidance for fiscal 2004 to $500 million - $525 million, which includes start-up costs associated with a deal between IDX and the U.K. National Health Service (NHS). Previous guidance predicted revenues of $455 million - $460 million and excluded any contract awards relating to the NHS project, the company said.

In other IDX news, the developer reported a clutch of contracts landed in its fourth quarter. Southwestern Vermont Medical Center of Bennington, VT, has purchased the firm’s integrated RIS/PACS, Imagecast . The hospital is a 99-bed community facility that serves approximately 4,700 inpatient visits and 146,000 outpatient visits annually.

Sun Health in Sun City, AZ, has also purchased the Imagecast RIS version for its integrated delivery network (IDN) of two acute-care facilities, the 323-bed Boswell Memorial Hospital, and the 235-bed Del E. Webb Memorial Hospital, as well as for a new imaging center scheduled for completion this year, IDX said.

Imagecast RIS/PACS and Groupcast practice management installations are scheduled for implementation at Radiology and Imaging Specialist of Lakeland, FL. The radiologist-owned group has four digital imaging centers conducting 400,000 exams annually, and plans to open more facilities in the next three years, according to IDX.

Primary Care Health Partners of Shelburne, VT, a seven-site primary care group in Vermont and New York, and Regional Diagnostics of Cleveland, an outpatient imaging and diagnostic network with 30 locations in the Midwest and eastern U.S., have added IDX’s Groupcast product.

Finally, Sansum-Santa Barbara Medical Foundation Clinic in Santa Barbara, CA, has implemented the Flowcast business performance product from IDX partner Allscripts Healthcare Solutions.

By staff writers
February 13, 2004

Related Reading

IDX, Fujitsu land NHS contract, January 27, 2004

IDX adds to executive lineup, January 13, 2004

IDX to launch national service center, December 8, 2003

Road to RSNA: IDX Systems, November 12, 2003

IDX closes new deals, continues growth in Q3, October 24, 2003

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