Sydney, Aug 13, 2007 AEST (ABN Newswire) - IBA Health Limited (ASX: IBA) - Australia's largest listed eHealth company, IBA Health, today announced it will not be proceeding with settlement of its $54.5 million conditional placement to institutional investors.
On Wednesday, 16 May 2007, IBA Health announced that it had entered into an underwriting agreement with ABN AMRO Rothschild to raise $54.5 million via a conditional placement in connection with the proposed acquisition of iSOFT Group plc. The conditional placement was subject to a number of conditions, including completion of the iSOFT acquisition by 13 August 2007. As the acquisition has not completed by this time, the underwriting arrangements have lapsed and IBA Health will not be completing the equity raising of $54.5 million.
Contact
Gary Cohen
Chairman
IBA Health Limited
Phone: +61 2 8251 6700
Email: gary.cohen@ibahealth.com
Media
Greg King
Communications and Business Development Director
IBA Health Limited
Phone: +61 413 621 111
Email: greg.king@ibahealth.com
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