27th Jun 2016 07:44
LONDON (Alliance News) - Lifeline Scientific Inc on Monday said its strategic review is progressing as talks with potentially interested parties continue, but it said there is still not certainty other whether a bid for the medical technology company will be received and accepted.
Lifeline has been conducting the review since last year, when it said it was considering options including the potential sale of the company and the potential listing of its shares on the NASDAQ exchange in New York.
Lifeline had pledged to provide an update before the end of June. However, on Monday, the company only reiterated that it is in talks with a "number of interested parties" which may or may not lead to an offer for the company, and said it will provide an update in due course.
"The prospects for Lifeline Scientific remain solid for 2016, with trading-to date significantly ahead of the same period last year," it said.
Pretax profit in 2015 more than doubled to USD5.7 million from only USD2.3 million in 2014 as revenue rose to USD39.4 million from USD34.6 million.
Lifeline said it will provide a trading update on first half of 2016 during August and its shares remain suspended.
By Joshua Warner; [email protected]; @JoshAlliance
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