re:worth a repeat Thought I'de repeat what the co told me a while back and to keep ones eye on the ball.

Subject re: iba loses largest australian customer
Stock Code IBA - IBA HEALTH LIMITED
Posted 29/05/06 19:50
Posted by Yak
IP 124.152.xxx.xxx
Post #1084424 - 233 reads
In Reply to msg #1084395

"OK

Spoke with a guy from the firm

He says that IBA indeed did sign with Ramsay back in 11/05 and it was for 5.25 mill (I think) but that the revenue stream is about $690k per annum for the 69 hospitals - not much per hospital, is it?

He said that Ramsay has made a few changes over the years and have always "come home"

Yes they are looking to migrate to the Meditech but it is likely to take 4 years - if at all

He stressed that the 690k is peanuts compared to their overall cash flow, budgetary projections and anticipated contracts - indeed the solid contracts already in place.

What you manage to get here for setting up and servicing a whole bunch of hospitals (with all the worjk that that takes) you get for setting up ONE hospital in say South Africa or Malaysia.

He also has just returned from China (nude nudge wink wink, I hope) and he said he was in Shanghai where they have

800

hospitals and that just one city?!?!

The outpatient department of this hospital he was at had - by 9:30 AM -

......already seen 2,500 outpatients!!!!

That is more than seen in all the hospitals in Australia. Puts the sheer size and magnitude into some sort of perspective - at least it did for me.

In short...the revenue lost is minimum and not something that really worries them

In any event...the contract they have with Ramsay is rock-solid and they are still absolutely committed to the run out of money to IBA. What happens after that is soemthing else. But really thats always been the case, hasnt it????

Hope this helps.

For mine, China, Malaysia and South Africa are the future!