ReadSoft closes ten million deal with English health care giant

ReadSoft closes ten million deal with English health care giant The IT company ReadSoft, one of this year's stock exchange winners, continues to pull off big orders. The latest one consists of a SEK ten million order from BUPA, a multinational health provider with head offices in the United Kingdom. The deal with BUPA, means that ReadSoft will install its software Eyes & Hands INVOICES at BUPA's administrative centers in London and Manchester. BUPA has approximately 40 percent of the UK health market and, for instance, owns 36 hospitals. The deal amounts to about 10 million SEK in all, with software licenses, support and future deliveries included. Colin Kaye, MD at ReadSoft UK and responsible for the deal, comments: "We are delighted with the deal - it proves that our new product Eyes & Hands INVOICES has been launched in a successful way in the UK. The deal will give BUPA large savings and provide us with a springboard to further grow our business here. So far, ReadSoft UK has doubled its turnover for three consecutive years." The software Eyes & Hands INVOICES will be used to automatically capture and interpret information from BUPA's invoices. Approximately 8,000 invoices will be processed every day. Automatic data capture technology can reduce a company's registration costs substantially, which makes the pay-back very short for the product. BUPA will also investigate and partner up with ReadSoft in the pursuit of installing the product Eyes & Hands for FORMS, to capture the company's forms throughout the worldwide group of BUPA. ReadSoft's shares have since the stock exchange introduction on June 22 increased from SEK 25 to SEK 128 and interest in the company has been great. ReadSoft is experiencing a phase of strong international expansion and the latest news of partnerships with IBM and UNIYSYS - and also the multimillion Avon deal - have convinced that ReadSoft will be the largest actor on the world market for automatic data capture. For more information contact: ReadSoft AB Jan Andersson, MD ReadSoft, or Kristina Kisthinios, Information Services Coordinator Pho: +46-42-490 21 00 E-mail: info@readsoft.com www.readsoft.com ReadSoft is a leading company in the development and sales of software for automatic data capture, which is software that automatically registers and interprets data on forms and invoices in paper or electronic format. ReadSoft is the market leader and has established offices in the most important international markets. Since its establishment in 1991, ReadSoft has evolved into a global corporation with ten subsidiaries in several European countries, in North and South America and Australia. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/04/20000104BIT00050/bit0001.pdf http://www.bit.se/bitonline/2000/01/04/20000104BIT00050/bit0002.doc