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Administrators of Interchange Health Co-operative Ltd (IHCO) have issued a report to creditors recommending they adjourn the upcoming creditor’s meeting to allow additional time to explore the sale of the bulk-billing allied health and general medical practice’s assets.
The recommendation comes following the Administrators investigation into the financial affairs of the Co-operative, during which a temporary licence agreement was granted enabling Interchange Health to recommence operations.
RSM Australia Partner Jonathon Colbran and Director Adam Cormack were appointed Joint and Several Voluntary Administrators of the IHCO on Monday 7 April 2025.
RSM Australia Partner Jonathon Colbran said Administrators require additional time to explore sale opportunities and confirm the way forward for creditors and stakeholders.
“We understand the significance the sudden closure had on patients, carers and staff – we have worked closely with the former volunteer board and staff to resume services through a temporary operator, with patients able to once again seek care at the practice,” RSM Australia Partner Jonathon Colbran said.
“Our investigations to-date have shown it is in the creditors best interests to adjourn the meeting to allow sufficient time to seek a suitable, permanent buyer for Interchange Health business assets – an option which was previously not available to us prior to services recommencing.
“We will continue to offer every possible assistance to the temporary Licensee while we finalise our investigations.”
The second creditors meeting will be held virtually on Wednesday, 21 May 2025.
RSM Australia Partners will present their final recommendations on the future of the company to creditors at a reconvened meeting on or before Friday, 25 July 2025.
Media contact:
Jessica Whitby
BBS Communications Group
Ph: 0434 787 986
Victoria Cox
BBS Communications Group
Ph: 0405 873 368
