IBA Health changes its name to iSOFT Group Limited
Sydney – Tuesday, 5 May 2009 – IBA Health Group Limited (ASX: IBA) – Australia’s biggest listed health IT company today announced that shareholders voted in favour of changing the company’s name to iSOFT Group Limited (ASX: ISF) to build on the goodwill associated with one of the world’s leading health IT brands, iSOFT.
The company’s shares will trade as iSOFT Group on the Australian Securities Exchange, under the new ASX code ISF, from 8 May. The decision will align the company’s name with its major brand and embrace a common identity among shareholders, customers and employees, IBA’s Executive Chairman and CEO Gary Cohen told investors at the company’s headquarters in Sydney today.
“The time is right for the company’s name to reflect this powerful brand and leverage our footprint across 38 countries,” Cohen said. “We have already implemented the iSOFT name among all our strategic products, and have relationships with some 13,000 customers.”
“The proposed name change coincides with a particularly dynamic period for our company. I was delighted that so many shareholders chose to take up their entitlements as part of our rights offering last month. We were also recently included in the benchmark S&P/ASX 200 Index at about the same time as we moved into our modern new headquarters. These changes coincide to reflect our status as one of the world’s biggest health IT companies.”
In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, we advise details of the resolution and the proxies received in respect of the resolution are set out in the attached proxy summary.
End of release
IBA Price at posting:
68.5¢ Sentiment: Buy Disclosure: Held
