I'll have a go at defending the company position here, and you...

I'll have a go at defending the company position here, and you can all tear me apart as you see fit!

When a large organisation like RHC is not in "buy" mode, they can be extremely frustrating to deal with. A deal like this may well be signed off at a senior level, I'm guessing Board level in this instance, hence the delay.

Obviously, I don't know the details of their internal processes. But we can make some pretty safe assumptions:
- There will be a strict process for assessing supplier contracts before they are signed.
- The level of sign off will depend on the $value but other factors may also come into play eg risk, clinical field etc
- The CFO will be a key player in decision making.
- RHC legal counsell will always do what lawyers do (slowly, and justify their existence in the process!)


The RHC Board has not long come out of a failed takeover and are now likely to be distracted by the myriad issues that got sidelined while that was underway. It only needs one person to start asking awkward questions (which is just governance in action) to cause considerable delay. If the answers are not able to be accepted outside of a Board meeting, then things are delayed to the next meeting. Another question? The same thing happens again. Heramed have little to no ability to speed the process up. However, if we screw things up, we could slow it down. We must have a champion within RHC, or we would not have got this far. So all Heramed can do is to support this person/team in providing whatever is necessary to get this across the line in as short a time as possible.

I'm guessing the issues are not inherently clinical ones. More likely it is commercial terms, reputational risk or integration that is an issue.

Even if the sign off is not Board level, hopefully you can see how the game plays out. For what it's worth, I would not have used the word "imminent." An astute RHC commercial team will know our financial position and read our announcements. That word potentially creates self induced pressure and makes it harder when Heramed gets invited in and instructed to "get your price down."

OK, let me have it!

Regards to all