(RTTNews) - Alpharetta, Georgia-based HealthPort Inc., announced that it is postponing its planned initial public offering of common stock due to market conditions.

HealthPort is a provider of healthcare information services and technology solutions to nearly 1,900 hospitals and health systems and 8,000 independent and hospital-affiliated physician clinics.

HealthPort, which revealed its intention to go public in a filing made in August, had planned to offer about 6 million shares of common stock at estimated initial offering price of $14 to $16 per share.

The company previously said it had applied to list its common stock on The NASDAQ Global Market under the symbol "HPRT".
In a regulatory filing, the company has stated that it is the largest provider of ROI or release-of-information services with a market share of approximately 20%.

For the nine months ended September 30, 2009, the company incurred a net loss of $8.9 million, and generated net revenue of $193.2 million.

Funds affiliated with Boston, Massachusetts-based private equity firm ABRY Partners, LLC owns majority stake in HealthPort's common stock.

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by RTT Staff Writer

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