IBA says in talks with iSoft.

Australia's IBA says in talks with UK's iSoft.

In the ASX announcement released today, IBA said that it is in discussion with iSoft group which may or may not lead to an all share recommendation offer for the company being made by IBA Health. IBA Health also confirms that it is in discussions with certain financial institutions to obtain funding which would be required should an offer for the company be made by IBA Health.

iSOFT is a producer of healthcare software solutions in UK. It booked a loss of 338 million pounds for the year to April 2006 due to a 351 million pound writedown of goodwill, and for the first half of this year it made a loss before tax of 14.3 million pounds.
Shares in iSoft last traded at 45 pence. The group's shares plunged 85 percent last year amid delays to a 6 billion pound revamp of computer systems for the UK National Health Service.

IBA share price retreated to $1.505 this morning, down around 6% from yesterday's closing.