ehealthcareasia says its shares have been suspended pending stock exchange clearance of its US$12 million all-share acquisition of Australian medical software supplier, MedWeb.
The transaction was first disclosed on November 15.
"We are working on it. We are hoping the stock exchange can clear this today or tomorrow (Wednesday or Thursday)," ehealthcareasia chief financial officer Patrick Ho told Reuters.
MedWeb is an Australia-based medical software supplier. Hong Kong-based ehealthcareasia offers Web-based billing and payment systems linking doctors, insurance companies and employers.
Ho said that it was possible a final statement might not be released until next week, as the company is in the process of providing the exchange with additional information on the transaction.
Shares of ehealthcareasia and its parent, Hong Kong-based medical clinic group Quality HealthCare Asia Ltd have both been suspended since Tuesday morning pending the final MedWeb statement.
Ehealthcareasia's revenue model consists of 42 percent contribution from transaction fees, 17 percent from remote claims processing, 16 percent from medical equipment distribution and 25 percent from marketing and other services, Philip Kirkwood, a director at ehealthcareasia told reporters at a news briefing on its business strategy on Tuesday.
