Trading in iSoft shares halted

Trading in iSoft shares on the Australian stock market were halted this morning in a move that may prove a prelude to a change in ownership of the health IT company.

An ASX (Australian Securities Exchange) market announcement on Thursday said a halt had been requested by iSoft, “pending the release of an announcement by the company”. The halt will likely remain in place until Monday, 28 March.

EHealth Insider understands in recent weeks iSoft has once again been in negotiations with its banks on re-financing its considerable debts. EHI also understands that the company is also holding discussions with possible investors over a partial or complete sale of the company.

It is unclear however how far advanced any negotiations have got, some sources suggest that a deal remains some way distant. 

Industry rumours suggest potential buyers that may be in the frame include CSC, iSoft’s main customer under the National programme for IT in the NHS.  Another potential buyer mentioned is US firm Ingenix.

Volumes of iSoft shares traded have soared in recent days. Its share price climbed to a recent high of .055c, having previously been trading at 0.032c.