Avia Health Informatics confirms it is no longer for sale
Avia Health Informatics (LON:AVIA) today told investors it was no longer up for sale.
The group confirmed that it has now concluded a strategic review of its business. Avia said it is not in talks with any party regarding a potential sale of the company.
Avia confirmed that instead of selling the company it plans to raise at least £500,000 to support the development of the business.
Last month Avia announced that it needed to raise a much smaller sum of money rather than the £1.5 million it previously forecast. It also published restated accounts for the year to March, showing revenues of £2.1 million and an operating loss of £540,000.
The shares resumed trading following the announcements last month.
At that time it said that it wanted to raise the money for new product development with a portion to be used as a working capital buffer in the event trading turned down again.
Avia added that it did not need new funds "for the sole purpose of securing the business" after recent cost-cutting and sales deals.
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