AREMISSOFT TO WITHDRAW FROM BULGARIA

Business | January 25, 2002, Friday // 00:00

NASDAQ-listed software maker AremisSoft, which contracted the National Health Insurance Fund (NHIF) on the development of its software, is to announce officially its withdrawal from Bulgaria on January 30, representatives of the company announced. The meeting of the parliamentary Healthcare Committee is scheduled to take place on the same day. Earlier this month AremisSoft warned it might cancel its contract with the National Health Insurance Fund (NHIF) in case the Fund fails to pay BGN 2 M for the software products. The new deadline set by the parent company expired on January 25. NHIF justified its failure to meet the deadline by pointing defects in the developed software.

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