IBA renews interest in iSoft merger:
This article was originally published in Clinica
Australian health information technology company IBA Health has submitted a revised cash offer of £166.3m ($330m), or 69p per share, for medical software supplier iSoft. IBA said it has agreed to buy around 56.6 million shares from iSoft shareholders, representing 24.3% of the company's issued capital. The revised offer trumps a 66p-per-share offer made on July 20 by fellow healthcare IT specialist CompuGROUP, based in Koblenz, German, which valued the deal at about £160m. IBA will receive a conditional investment of Aus$300m ($241m) from Allco Equity Partners on completion of the offer. Oxfordshire, UK-based iSoft claims to be one of the world's leading suppliers of advanced software applications for the healthcare sector, and was the main software supplier to the £12.4bn overhaul of the UK's National Health Service computer system.