FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 31, 2012
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COMPUTER SCIENCES
CORPORATION (Exact name of Registrant as specified in its charter) |
Nevada | 1-4850 | 95-2043126 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
3170 Fairview Park Drive | 22042 |
Falls Church, Virginia | (Zip Code) |
(Address of Principal Executive Offices) |
Registrants telephone number, including area code (703) 876-1000
Not Applicable
(Former Name or Former Address, if Changed Since Last
Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Revised Tuesday September 4, 2012
FORM 8-K
COMPUTER SCIENCES CORPORATION
Other Events, Financial Statements and Exhibits
Item 8.01. Other Information.
On August 31, 2012 the Company and the U.K. National Health Service (NHS) entered into a binding interim agreement which has been approved by all required U.K. government officials (the agreement). The agreement amends the terms of the parties current contract under which the Company has developed and is now deploying an integrated patient records system using the Companys Lorenzo Regional Care software product. The agreement forms the basis on which the parties will subsequently finalize a full restatement of the contract.
Under the agreement the parties have redefined the scope of the Lorenzo products and have established deployment and ongoing service pricing. CSC will deliver additional Lorenzo implementations based on demand from individual NHS trusts. A flexible arrangement has been established for these trusts to combine additional clinical modules with the core care management functionality of the Lorenzo solution to meet their specific requirements. CSC and the NHS have also agreed to a streamlined approach for trusts which wish to take the Lorenzo products within the NHS-designated North, Midlands and East regions of England to obtain central funding from the U.K. Department of Health for implementation of the Lorenzo products. In addition, CSC may offer the Lorenzo solution throughout the rest of England where trusts select CSCs solutions through a separate competitive process. Under the new agreement the NHS will not be subject to trust volume commitments and CSC has agreed to non-exclusive deployment rights in its designated regions. Trusts will receive ongoing managed services from CSC for a period of five years from the date of Lorenzo deployment by a trust, provided deployment is complete or substantially complete by July 2016.
Beyond its Lorenzo offerings, CSC will continue to provide a wide range of other solutions and services to the NHS, including general practitioner, ambulance and community systems, digital imaging and other related services.
The parties have agreed to a mutual release of all accrued claims under the contract through the date of the agreement, August 31, 2012. In conjunction with the agreement, CSC will receive a payment of approximately £68 million, net of value added tax, representing payment for value delivered to date, a net settlement amount for mutual claims of the parties and removal of exclusivity to provide a flexible market driven approach.
Reference is hereby made to CSCs Form 10-K for the fiscal year ended March 30, 2012 and its Form 10-Q for the quarter ended June 29, 2012 for previously disclosed information concerning CSCs contract with the NHS. The disclosures set forth in this Form 8-K supplement and update CSCs prior disclosures concerning such matters as set forth in such prior filings.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following Exhibit is filed herewith:
Exhibit Description | |
99.1 | Press Release dated September 4, 2012 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereto duly authorized.
COMPUTER SCIENCES CORPORATION | ||||
Dated: September 4, 2012 | By: | William L. Deckelman, Jr. | ||
Vice President and General Counsel |
EXHIBIT INDEX
Exhibit | Description |
99.1 | Press Release dated September 4, 2012 |
CONTACT: | Joel Shadle | CSC PRESS RELEASE | |
Global Media Relations | SEPTEMBER 4, 2012 | ||
CSC Corporate | |||
703-641-2316 | |||
jshadle@csc.com | |||
Steve Virostek | |||
Director, Investor Relations | |||
CSC Corporate | |||
703-641-3000 | |||
investorrelations@csc.com |
Revised Tuesday September 4, 2012
CSC SIGNS AGREEMENT WITH U.K. NATIONAL HEALTH SERVICE
Four year Agreement to Deliver Lorenzo Products and other Healthcare Solutions
Falls Church September 4, 2012 CSC (NYSE: CSC) entered into an agreement with the U.K. National Health Service (NHS) on August 31, 2012 to amend the existing contract under which CSC has developed and is deploying an integrated electronic patient records system using CSCs Lorenzo Regional Care software products. The agreement, which has received the approval of all required U.K. government officials and is effective immediately, offers substantial flexibility to NHS trusts in their choice of electronic care records solutions while affording CSC the opportunity to expand and accelerate its marketing of the Lorenzo solution to NHS trusts across England. The term of the agreement extends through July 2016. The agreement includes full mutual releases of all claims between the parties through the date of the agreement.
This agreement is a significant milestone in our relationship with the National Health Service and represents a renewed commitment by the NHS and CSC to a long-term partnership as well as CSCs healthcare solutions, said Mike Lawrie, CSCs president and chief executive officer. Under this agreement CSC will continue to have the opportunity to support the NHS Information and Communications Technology infrastructure through deployment of our groundbreaking Lorenzo base product solutions, now rigorously tested and approved for wide-scale deployment across NHS. We are already seeing strong demand from NHS trusts that are confident our solutions will bring the safety and efficiency gains required by a modern NHS.
Under the agreement the parties have redefined the scope of the Lorenzo products and have established deployment and ongoing service pricing. CSC will deliver additional Lorenzo implementations based on demand from individual NHS trusts. A flexible arrangement has been established for these trusts to combine additional clinical modules with the core care management functionality of the Lorenzo solution to meet their specific requirements. CSC and the NHS have also agreed to a streamlined approach for trusts which wish to take the Lorenzo products within the NHS-designated North, Midlands and East regions of England to obtain central funding from the U.K. Department of Health for implementation of the Lorenzo products. In addition, CSC may offer the Lorenzo solutions throughout the rest of England where trusts select CSCs solutions through a separate competitive process. Under the new agreement the NHS will not be subject to trust volume commitments and CSC has agreed to non-exclusive deployment rights in its designated regions. Trusts will receive ongoing managed services from CSC for a period of five years from the date of Lorenzo deployment by a trust, provided deployment is complete or substantially complete by July 2016.
Beyond its Lorenzo offerings, CSC will continue to provide a wide range of other solutions and services to the NHS, including general practitioner, ambulance and community systems, digital imaging and other related services.
Further details regarding the August 31, 2012 agreement can be found in the Form 8-K filed by CSC today with the U.S. Securities and Exchange Commission.
About CSC
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 96,000 employees and reported revenue of $15.8 billion for the 12 months ended June 29, 2012. For more information, visit the companys website at www.csc.com.