Medical booking site mulls IPO or sale

The online medical booking site 1stAvailable has yet to make a decision whether to proceed with an IPO or sell itself.

1stAvailable, an online booking portal that enables people to look for health care specialists, is considering an initial public offering or a sale as the company is seeking capital to grow its business. The site will have 4,000 medical practices committed to taking internet bookings by Christmas.

“We’re contemplating a possible IPO next year,” Klaus Bartosch, 1stAvailable’s managing director, told DataRoom. “We’re open to exploring any option in order for us to boost growth including a trade sale. But I stress that the board has not made any decision.”

Bartosch declined to give any financial details on the company’s operations.

He said stockbroker and investment bank RBS Morgans had conducted the latest round of 1stAvailable’s capital raising with private individuals.

“RBS Morgans have done a terrific job and I’m sure they would be keen to underwrite an IPO,” Bartosch said.

David Paradice, the founder and a portfolio manager at Paradice Investment Management, said he has a “tiny” stake in 1stAvailable.