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U.Va. settles $47M suit against software company

Wednesday - 7/11/2012, 1:00pm  ET

CHARLOTTESVILLE, Va. - The University of Virginia has settled a $47 million lawsuit it filed against a health care software company alleging breach of contract.

Lawyers for both sides tell media outlets that the issues have been resolved. But the agreement is confidential and its terms won't be released.

The case had been scheduled to go to trial Wednesday.

The university hired IDX Systems Corporation in 1999 to develop an integrated health care information management system. U.Va. terminated the contract in 2009, demanded a refund of more than $20 million and sued the company in Charlottesville Circuit Court. The lawsuit claimed the company didn't meet milestones and performance criteria set in the contract.

General Electric bought the company in 2006. GE said delays developing the system were U.Va.'s fault.

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