No intention to make an offer for Supporta plc

 

TIDMAHI TIDMSOR 
 
RNS Number : 2084F 
Allied Healthcare International Inc 
07 January 2010 
 

Allied Healthcare International Inc. 
7 January 2010 
 
 
No intention to make an offer for Supporta plc ("Supporta") 
 
On 23 December 2009, Allied Healthcare International Inc. ("Allied") announced, 
in accordance with Rule 2.4 of the City Code on Takeovers and Mergers (the 
"Code"), that it had submitted an indicative cash offer for the entire issued 
share capital of Supporta, which was subject to, amongst other things, due 
diligence. 
Following a period of due diligence, Allied has decided to terminate discussions 
with Supporta. Allied therefore confirms, in accordance with Rule 2.8 of the 
Code, that it has no current intention to make an offer for Supporta. 
 
 
For the purposes of Rule 2.8 of the Code, Allied reserves the right to make or 
participate in an offer for Supporta (and/or take any other action which would 
otherwise be restricted under Rule 2.8 of the Code) within the six months 
following the date of this announcement if there is material change in 
circumstances or an agreement or recommendation from the Board of directors of 
Supporta is forthcoming. 
 
 
The release, distribution or publication of this announcement in jurisdictions 
other than the UK may be restricted by law and therefore any persons who are 
subject to the laws of any jurisdiction other than the UK should inform 
themselves about and observe any applicable requirements. 
 
 
Contacts: 
 
 
Allied Healthcare International Inc. 
Sandy Young, Chief Executive Officer 
Paul Weston, Chief Financial Officer 
[phone] 
 
 
Piper Jaffray Ltd. 
Matthew Flower 
Rupert Winckler 
[phone] 
 
 
FORWARD-LOOKING STATEMENTS 
 
 
Certain statements contained in this news release may be forward-looking 
statements. These forward-looking statements are based on current expectations 
and projections about future events. Actual results could differ materially from 
those discussed in, or implied by, these forward-looking statements. Factors 
that could cause actual results to differ from those implied by the 
forward-looking statements include: general economic and market conditions; 
Allied's ability to continue to recruit and retain flexible healthcare staff; 
the H1N1 influenza virus which may result in staff being unable to perform 
services due to their own illness or due to the illness of patients and may 
reduce our revenues;  Allied's ability to enter into contracts with local 
government social services departments, NHS Trusts, hospitals, other healthcare 
facility clients and private clients on terms attractive to Allied; the general 
level of demand for healthcare and social care; dependence on the proper 
functioning of Allied's information systems; the effect of existing or future 
government regulation of the healthcare and social care industry, and Allied's 
ability to comply with these regulations; the impact of medical malpractice and 
other claims asserted against Allied; the effect of regulatory change that may 
apply to Allied and that may increase costs and reduce revenues and 
profitability; Allied's ability to use net operating loss carry forwards to 
offset net income; the effect that fluctuations in foreign currency exchange 
rates may have on our dollar-denominated results of operations; and the 
impairment of goodwill, of which Allied has a substantial amount on the balance 
sheet, may have the effect of decreasing earnings or increasing losses. Other 
factors that could cause actual results to differ from those implied by the 
forward-looking statements in this press release include those described in 
Allied's most recently filed SEC documents, such as its most recent annual 
report on Form 10-K, all quarterly reports on Form 10-Q and any current reports 
on Form 8-K filed since the date of the last Form 10-K. Allied undertakes no 
obligation to publicly update or revise any forward-looking statements, whether 
as a result of new information, future events, or otherwise. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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