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July 20, 2010
AMERITA ACQUIRES SAFFA INFUSION IN TULSA, OK
Acquisition expands Amerita into its sixth state
Amerita, Inc. announced today that it has acquired Saffa Infusion Pharmacy located at 6666 South Sheridan Road, Suite 100, Tulsa, OK 74133. The purchase further advances Amerita’s plan to become the premier specialty infusion service provider in America.
“Saffa Infusion has been a strong local provider in Tulsa since 1986 and has an excellent clinical and service reputation. I am personally excited to see our two organizations join forces as we share similar philosophies regarding patient care and customer service,” said Jim Glynn, Amerita’s CEO. “We see the Tulsa market as an important entry into Oklahoma that will extend our service area north of Texas and into the Plains States.” With this purchase, Amerita now has 12 locations across the United States and moves closer to connecting its strong Texas footprint with its branch locations in Colorado, Utah and Tennessee.
The founder of Saffa Infusion, George Saffa, said, “I am looking toward the future with a strong national partner here in Tulsa and to expanding the care we have practiced here state wide. Amerita is a thoughtful and caring company with a common purpose: Grow the company with the best employees available, offer unmatched infusion services and dedicate ourselves to those we treat, in the communities we serve.”
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July 9, 2010
BC Partners and Silver Lake to Acquire MultiPlan,
Leading Technology-Enabled Healthcare Cost Management Company
BC Partners, a leading international private equity firm, and Silver Lake, the world’s largest private equity investor in technology, announced today that they have agreed to acquire MultiPlan, Inc., a transaction-based healthcare cost management company that processes more than 100 million medical claims annually.
As the nation’s leading comprehensive provider of healthcare cost management
solutions, MultiPlan delivers transaction-based services to insurers, health plan
administrators, and other payers of healthcare services, as well as to its national
network of medical providers, which includes over 5,000 hospitals, 115,000 ancillary
care facilities and 625,000 healthcare practitioners in the United States. Founded in
1980, MultiPlan, the largest company in its industry, recently acquired Viant, a provider
of similar healthcare cost management solutions. The acquisition has created a new
company characterized by a more expansive national medical network footprint and a
broader set of solutions, providing greater flexibility and choice for patients, payers and
providers.
“The investment from BC Partners and Silver Lake is a significant milestone in our
evolution as a leading transaction-based healthcare cost management company,” said
MultiPlan Chief Executive Officer Mark Tabak. “BC Partners and Silver Lake are worldclass investors with proven healthcare and technology expertise. We will benefit from their resources and insight as we further develop innovative technology that helps
healthcare payers and providers collaboratively address the high cost of healthcare.”
“Mark and his team have done a tremendous job to position MultiPlan to be at the
forefront of the fundamental changes taking place in the U.S. healthcare industry,” said
BC Partners Co-Chairman Raymond Svider. “Through a series of strategic initiatives
and complementary acquisitions, MultiPlan today is a leader in working with all
healthcare industry participants to ensure that individuals receive greater choice,
increased flexibility and cost effective care. We look forward to helping the MultiPlan
leadership team build on this foundation and continue to grow.”
Egon Durban, Managing Director of Silver Lake, said, “This investment in MultiPlan, our
first in the healthcare industry, is a compelling addition to Silver Lake’s portfolio of
market-leading transaction processing businesses in multiple industry verticals ranging
from travel to point-of-sale payments. MultiPlan is powerfully positioned for future
growth as it introduces greater efficiency and access to its truly unique medical network
and platform of healthcare cost management services.”
BC Partners and Silver Lake are acquiring MultiPlan from The Carlyle Group and
Welsh, Carson, Anderson & Stowe.
Barclays Capital, Credit Suisse, Simpson Thacher & Bartlett and PricewaterhouseCoopers are advising BC Partners and Silver Lake on this transaction. BofA Merrill Lynch, Barclays Capital and Credit Suisse are co-lead arrangers of the proposed financing being obtained by BC Partners and Silver Lake. BC Partners and Silver Lake are equal equity partners in this fully committed financed transaction.
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July 8, 2010
Welsh, Carson, Anderson & Stowe to Acquire a Majority Position in Spine Firm K2M
Deal Positions K2M for Substantial Growth as a Leader in the Global Spine Market
K2M, Inc. (“K2M” or the “Company”), a spinal device company developing innovative solutions for the treatment of complex spinal pathologies, and Welsh, Carson, Anderson & Stowe (“Welsh Carson”), a leading private equity firm, have entered into a transaction in which Welsh Carson will acquire the outstanding stock and become the majority shareholder of K2M, along with longtime K2M investor, Ferrer Freeman & Co., and K2M’s management.
Under this agreement, K2M’s global headquarters will remain in Leesburg, Virginia, and the Company will continue to operate under its existing management team led by Eric Major, President and CEO, and Dr. John Kostuik, Chief Medical Officer. The Welsh Carson investment will allow K2M to substantially scale its business to meet the high demand for its innovative product portfolio by expanding its worldwide sales force and accelerating the research and development of its next generation technologies.
“K2M has proven over the past several years to be one of the most innovative and fastest growing spine companies in the industry. We are excited to add K2M to our portfolio of medical device companies,” said Paul Queally, Welsh Carson Co-President.
“We are extremely proud that Welsh Carson, a world class private equity firm, has decided to back K2M to serve as the foundation platform to aggressively scale and become a leader in the spine market,” stated Eric Major. “In a relatively short period of time, we have built a profitable organization that has experienced rapid growth since its inception. June was another record breaking sales month for K2M. This strategic transaction will enable us to leverage the success of our existing business and reaffirm our commitment to becoming a leader in the global spine market. Welsh Carson has the unique combination of investment expertise, industry focus, and capital resources to react quickly to prospective opportunities and provide significant strategic and operational value to K2M.”
Dr. John Kostuik added, “This agreement with Welsh Carson will allow us to expand our R&D efforts and portfolio of differentiated technologies to enhance global patient care, which will always remain K2M’s number one priority.”
The transaction is expected to close at the end of July. Piper Jaffray & Co. served as the exclusive financial advisor to K2M in this transaction.
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June 10, 2010
FORUM HEALTH AND ARDENT HEALTH SERVICES
SIGN PURCHASE AGREEMENT
Forum Health and its affiliated entities filed a court motion today to sell its hospitals and other assets to Ardent Health Services, a Nashville, Tenn., hospital company, beginning a complex process to exit bankruptcy.
The motion was filed in bankruptcy court after Forum and Ardent signed an asset purchase agreement outlining a proposed sale of Northside Medical Center, Trumbull Memorial Hospital, Hillside Rehabilitation Hospital and substantially all of its operating assets to Ardent for $69.8million.
Ardent has pledged to keep all of the hospitals open and invest an additional $50 million to $70 million over five years on renovations, new equipment and other upgrades that will enhance the quality of care and service.
Forum submitted the agreement to the bankruptcy court as part of a sale motion. U.S. Bankruptcy Judge Kay Woods will determine the process for reviewing the agreement, as well as any competing bids or objections to the agreement. This process may take several months to complete. Forum has been in Chapter 11 bankruptcy since March 2009.
“After thorough evaluation of all options, the board concluded that the best possible outcome for Forum Health, our creditors and the community is a sale to Ardent, which is known for investing in quality care,” said Phil Dennison, board chair. “The proposal by Ardent truly offers Forum Health a more secure and stable future and provides continued access to high-quality health care services for residents of the Mahoning Valley.
“This is very exciting news for our employees and the people of the Mahoning Valley, and we are hopeful that the court and our creditors will adopt the result of our sale process as a solution for our hospitals, our caregivers and our patients.”
In addition to the hospitals, Ardent would purchase Forum’s physician group, its two diagnostic and imaging centers and its five laboratory sites.
David T. Vandewater, president and CEO of Ardent Health Services, sees Forum’s strengths and potential.
“We believe in Forum Health and its future as a vibrant contributor to the region, as a provider of quality health care and as an important employer,” he said. “We appreciate the support we have received throughout the community, the state and within Forum. We hope the court will approve the sale and that we’ll have the opportunity to join this community and be a part of its next success story.”
Ardent’s plans for Forum Health include a focused investment and an expansion of specific services in conjunction with physicians, as well as replacing aging medical equipment with state-of-the-art technology and upgrading facility infrastructures.
The membership of all three unions representing Forum’s employees – the Service Employees International Union, the American Federation of State, County and Municipal Employees and the Ohio Nurses Association – have indicated support for an Ardent purchase.
Background
Forum Health and its affiliated entities voluntarily filed March 16, 2009, to reorganize under Chapter 11 of the U.S. Bankruptcy Code. Since then, Forum has taken numerous actions to improve performance and reorganize the system, including making changes to its pension plans, renegotiating collective bargaining agreements and realigning staffing to reflect current market realities, with reductions primarily in the areas of non-patient care, management and health systems to ensure no impact on patient care.
About Forum Health
Forum Health’s history dates back to 1881 with the founding of the Youngstown Hospital
Association. The association established Youngstown’s first hospital in 1883 and eventually opened Northside Medical Center in 1929, setting a benchmark as one of the first multi-unit hospitals in the nation. The system evolved into Forum Health in 1997 when Western Reserve Care System merged with Trumbull Memorial Hospital.
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March 31, 2010
AgaMatrix and sanofi-aventis Enter Global Diabetes Partnership
AgaMatrix, Inc. and sanofi-aventis (EURONEXT: SAN and NYSE: SNY) today announced that they have signed a long-term agreement for the development, supply and commercialization of blood glucose monitoring (BGM) solutions. Under the terms of the agreement, AgaMatrix and sanofi-aventis will co-develop innovative solutions in diabetes management that incorporate AgaMatrix’s WaveSense™ technology. Sanofi-aventis will commercialize through its Global Diabetes Division such integrated solutions for patients with diabetes, along with current sanofi-aventis insulins and delivery devices. Sanofi-aventis’ insulin and device portfolio include Lantus®, a basal insulin that is the number one insulin prescribed worldwide, and Apidra®, a leading fast-acting insulin, plus its easy-to-use delivery pens SoloSTAR® and ClikSTAR®.
Sanofi-aventis selected AgaMatrix as its global BGM partner based on AgaMatrix’s accurate and innovative products in the market. Accuracy is particularly important to patients in order to safely adjust their insulin dose.
“In building our Global Diabetes Division, our objectives included conducting an exhaustive search for potential partners that have excellent core science, are highly innovative, and have the potential to develop a broad range of products. With AgaMatrix, we’ve found a company that can meet all three objectives in the BGM category,” said Eric Petreto, Vice President of Device Strategy of the sanofi-aventis Global Diabetes Division.
AgaMatrix’s proprietary WaveSense technology personalizes each test to provide world class accuracy by employing a new detection method called dynamic electrochemistry to detect and correct for errors caused by differences in blood samples, manufacturing variations and environmental conditions. In addition, tests are fast, require very little blood, and do not require coding.
“Our unwavering message to patients, health care professionals and industry leaders has been that people with diabetes need more accurate BGMs and that our WaveSense technology delivers high accuracy, so naturally we are thrilled to find a partner that shares these beliefs,” said Sonny Vu and Sridhar Iyengar, Co-Founders of AgaMatrix. “With sanofi-aventis’ global presence and sterling reputation, we believe this partnership will enable us to finally fulfill our original vision of making high accuracy blood glucose testing easily available to patients worldwide.”
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March 15, 2010
MultiPlan Completes All-Stock Acquisition of Viant Creates Nation’s Most Comprehensive Provider of Healthcare Cost Management Services
MultiPlan, Inc. announced today that it has acquired Viant, Inc., bringing together the considerable expertise and complementary solutions of both companies to produce what MultiPlan believes will be the industry’s most comprehensive provider of healthcare cost management services. “The timing couldn’t be better for Viant to join the MultiPlan family, as containment of healthcare costs has become the nation’s imperative,” said Mark Tabak, MultiPlan's Chief Executive Officer. “Together, we plan to more effectively leverage our companies’ combined expertise and technology to improve efficiencies and patient flow for providers, driving significant savings for healthcare consumers and payers.” Founded in 1980, MultiPlan is a provider of PPO network and related transaction-based solutions that reduce the per-unit costs of healthcare claims. MultiPlan contracts directly with over 5,000 hospitals, 115,000 ancillary care facilities and 625,000 practitioners who participate in the company’s national primary and complementary PPO networks. Established in 1990 as Preferred Payment Systems, Inc., Viant today offers PPO networks, network management, pre-payment and post-payment services to commercial and government clients. Viant’s networks represent approximately 5,400 hospitals, 95,000 ancillary facilities and 600,000 practitioners. Added Tabak, “With our combined product lines, MultiPlan has a solid foundation from which to develop new solutions as healthcare reforms take shape. We look forward to working with our new colleagues at Viant to meet the needs of this changing marketplace.”
Together, MultiPlan and Viant offer healthcare payers an end-to-end solution for managing healthcare unit costs on a pre- and post-payment basis.
About MultiPlan
MultiPlan, Inc. is the industry’s most comprehensive provider of healthcare cost management solutions. The company provides over 2,300 clients with a single gateway to a host of primary, complementary and out-of-network strategies for managing the financial risks associated with healthcare claims. Clients include large and mid-sized insurers, third party administrators, self funded plans, HMOs and other entities that pay claims on behalf of health plans. Incorporated in 1980, MultiPlan is owned by a group of investors led by the Carlyle Group. For more information, visit www.multiplan.com.
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January 10, 2010
Amerita acquires Chartwell Rocky Mountain, LLP in Denver Expands Colorado presence and improves service model
Amerita, Inc. announced today that it has acquired Chartwell Rocky Mountain, LLP located at 7265 South Revere Parkway, Suite 903, Centennial, Colorado 80112. This acquisition will improve the company’s service response in the Denver market and bring new payer contracts to Amerita. The company expects to retain all existing management and sales/operating staff.
Chartwell Rocky Mountain, LLP was a joint venture between Chartwell Home Therapies and University of Colorado Hospital. University of Colorado Hospital is the region’s only academic medical center and is internationally renowned for its cancer, cardiac, transplant and neurosciences services. Jim Glynn, Amerita’s CEO said, “Chartwell Rocky Mountain LLP has a long history of providing excellent care and service in the Denver area. Beverly DeSaules, Chartwell’s General Manager, has built a great team that we are excited to see join the Amerita family. This purchase expands Amerita’s coverage into the Denver market and will increase our contract base to include several new payer relationships. With two sites in Colorado, we will improve response time and increase coverage to include the entire state of Colorado.”
DeSaules said, “Amerita has built an excellent reputation in the Colorado Springs market and has a very similar culture to Chartwell Rocky Mountain. I am excited about our expansion of services in Colorado and the opportunity to be involved with a young, growing organization.”
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December 9, 2009
Webmedx Receives 2009 Best in KLAS for Professional Services in Outsourced Transcription and Ranks #1 in KLAS 2009 Transcription Services:
Steady Demand in a Volatile Market Report
Webmedx recently received a Best in KLAS award and was named the top vendor in their category for professional services in the 2009 Top 20 Best in KLAS Awards: Software and Professional Services Report and 2009 Transcription Services: Steady Demand in a Volatile Market Report. A first-time entrant into the national survey, Webmedx’s outstanding service and willingness to accommodate customers helped land the company first place for overall performance and best in quality for medical transcription service operators (MTSOs). Additionally, the company was tied for first place in report turnaround time according to the transcription report.
Webmedx offers medical transcription and editing services along with industry-leading technology solutions for back-end speech recognition, voice capture, and discrete data mining. The company services hospitals and clinics nationwide with high customer satisfaction scores across all sizes of provider organizations; under and over 500-bed facilities.
Webmedx attributes its Best in KLAS ranking to a completely U.S.-based medical transcription service offering and a company-wide dedication to delivering remarkable results to its customers. Providers can receive a full copy of the 2009 Top 20 Best in KLAS Awards report directly from KLAS.
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October 27, 2009
K2M to Sell Directly in the United Kingdom
Rapidly Growing Spinal Device Company Opens Office in the UK
K2M, Inc., the spinal device company developing innovative solutions for the treatment of complex spinal pathologies, today announced the opening of a direct sales and distribution office in the United Kingdom. K2M’s expansion into the UK began in 2008 with the CE Mark clearance and successful introduction of its RANGE® Spinal System, MESA® Spinal System, DENALI® Spinal System,PYRENEES® Cervical Plate System, and ALEUTIAN® Interbody Systems.
“Setting up a European base is a clear statement that we are committed to expanding the availability of our innovative technology globally and supporting surgeons treating the most difficult spinal deformities,” stated Christian Johnson, K2M’s European Vice President. “Our mission is to be the worldwide leader in providing solutions for complex spinal pathologies and this is a huge step in the right direction.”
“K2M’s international expansion continues to gain momentum and the direct distribution of our products in the UK marks a critical milestone,” stated Eric Major, K2M’s President and CEO. “We are dedicated to developing a global company that recognizes the unique spinal instrument needs of different regions of the world and provides surgeons with techniques and technologies that will enhance their ability to treat all spinal patients.”
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July 28, 2009
Watson Announces License Agreement With GeneraMedix for Generic Version of Ferrlecit(R)
MORRISTOWN, N.J., Watson Pharmaceuticals, Inc. (NYSE: WPI - News), a leader in generic and specialty branded pharmaceuticals, today announced a license agreement with GeneraMedix, Inc., for the exclusive US marketing rights to a generic version of Ferrlecit (sodium ferric gluconate complex in sucrose injection), a drug indicated for the treatment of iron deficiency anemia in hemodialysis patients receiving supplemental epoetin therapy.
GeneraMedix has an Abbreviated New Drug Application (ANDA) on file with the FDA for a sodium ferric gluconate complex in sucrose product that is packaged in a vial. The application is under expedited review with the FDA. Under the terms of the agreement, GeneraMedix will supply the product to Watson, which will market, sell and distribute the product in the US. Terms of the license agreement have not been disclosed.
Watson currently markets the brand product, Ferrlecit, under a supply and distribution agreement with Sanofi-Aventis. The Ferrlecit product rights return to Sanofi-Aventis on December 31, 2009.
About Watson Pharmaceuticals, Inc.
Watson Pharmaceuticals, Inc. is a global leader in the development and distribution of pharmaceuticals with a broad portfolio of generic products and a specialized portfolio of branded pharmaceuticals focused on Urology, Gynecology and Nephrology (Medical).
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June 30, 2009
K2M Launches CASPIAN Spinal System to Address Cervico-Thoracic Pathologies
LEESBURG, VA – K2M, Inc., a spinal device company developing innovative solutions for the treatment of complex spinal pathologies, today announced the launch of the CASPIAN™ Spinal System. CASPIAN is an all-inclusive system for rigid posterior fixation addressing the high surgeon demand for treatment of complex cervico-thoracic spinal conditions.
This comprehensive system is the first to provide two completely different polyaxial screw options, Mini DENALI® and Mini MESA®, as well as Mini Hooks, Mini Connectors, and 3.5 mm Rods. The Mini DENALI screw is an evolution of a more traditional set screw designed implant featuring off-axis screw height adjustment, whereby the screwdriver does not need to be co-linear with the screw shaft to adjust the screw during surgery. The Mini MESA screw features K2M’s flagship Zero-Torque Technology® which applies zero torsional loads, or twisting forces, to the spine when locking the system.
According to Dr. Juan S. Uribe, Co-Director of Spinal Neurosurgery at the University of South Florida, “The low profile feature is unlike any other posterior cervical system and offers a significant clinical advantage.” Co-Director of Spinal Neurosurgery at the University of South Florida, Dr. Fernando L. Vale, stated, “The low profile and Zero-Torque Technology features of Mini MESA are very beneficial in these applications. CASPIAN offers the versatility and benefits of both MESA and DENALI, providing the surgeon with unmatched intra-operative flexibility.”
“The CASPIAN Spinal System is an important introduction for K2M, because it addresses the increasing demand from the surgeon community to offer our innovative MESA Zero-Torque Technology for the upper regions of the spine,” stated Eric Major, K2M’s President and CEO. “The rollout of CASPIAN moves us one step closer to our goal of providing a complete product portfolio of best-in-class systems for treating all types of complex spine pathologies.”
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May 29 , 2009
Reliant Renal Care, Inc Expands Operations to Alabama with a Joint Venture in Tuscaloosa, Alabama
Media, PA — Reliant Renal Care, Inc., (“RRC”), a quality provider of outpatient kidney dialysis services, announced today the plan to joint venture with local nephrologists in their peritoneal dialysis program and to open a new 10 station outpatient dialysis facility in Northport, Alabama just outside of Tuscaloosa, Alabama. This new facility will be able to offer dialysis services for up to 50 patients. The center along with the physicians’ offices has over 14,000 square feet.
“We are proud to offer hemodialysis and self-care dialysis services to Tuscaloosa-area patients at this state-of-the-art facility,” said Barbara Bednar, RRC’s President and Chief Executive Officer. “We are excited to begin to offer services in Alabama and plan to work with the physicians in this market to provide dialysis services to other area communities.”
Barbara Bednar and RRC’s Chief Operating Officer, Nola Mc Mullen, bring with them a combined 50 years experience in dialysis, both beginning their careers as nephrology nurses. Because of their unique experience as nephrology clinicians, RRC is the only dialysis provider with actual nephrology (clinical) backgrounds. This gives RRC the ability to provide excellent individualized quality of care.
Michael Robards, M.D., a board-certified nephrologist, and Geoffrey Alilonu, M.D. will lead the new facility. “I’m proud to partner with Reliant Renal Care because of their commitment to excellent service to patients and their responsiveness to physicians as well as their integrity,” said Robards. “The Company’s management team is highly clinical and truly understands the needs of dialysis patients and has the ability to affect change in a great way.” Dr. Alilonu asserted similar statements when interviewed. “The key is to be able to explain the treatment modalities to patients early in the process and with a partner that understands the needs of these patients, it is a natural to develop a relationship with them based on their clinical understanding and past successes”, stated Alilonu.
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May 13, 2009
Aetna and Concentra announce new worksite wellness Offering
Aetna (NYSE: AET) today announced a preferred vendor relationship with Concentra that expands the new Aetna Health Connections Direct2You™ offering to include worksite medical centers where experienced physicians and medical experts provide primary, urgent and occupational care. This new collaboration, which will be made available to Aetna’s plan sponsors, allows working Americans to receive wellness, prevention and acute care services at their workplace through Concentra’s innovative delivery methods.
Aetna Health Connections Direct2You currently offers a range of services within the workplace including biometric screenings that measure cholesterol, blood pressure, weight and height; wellness and preventive care; nutrition and fitness counseling; Employee Assistance Programs (EAP) services; prescription drug consultations and disease management. The information gathered at the worksite is connected to other health programs purchased by employers, giving them a comprehensive health and wellness picture of their employee populations while assuring the confidentiality of personal health information.
Concentra was selected by Aetna for its leadership in delivering employer health solutions and ability to improve access to health care services through employer worksite facilities and urgent care centers. Through this collaboration, Concentra will operate worksite medical centers where experienced physicians and medical experts provide primary, urgent, and occupational care to improve the health and well-being of employees. Combining best-practice strategies to prevent disease and promote healthy lifestyles, Concentra providers will also offer physical therapy, immunizations, and fitness and athletic training at employer-based health centers, helping to increase employee access and utilization of health and wellness services. Through this arrangement, employers will enjoy a complete, seamless, full-service acute care offering with the ease and convenience of services delivered by Concentra and Aetna.
“Their extensive experience in workplace solutions makes Concentra a valuable addition to the Aetna Health Connections Direct2You offerings,” said Dan Fishbein, M.D., head of New Product Businesses at Aetna. “Aetna and Concentra offer a unique opportunity to help employers enhance their existing employee benefit package by implementing worksite health options that are proven to improve the health of employees and lower the total cost of health care.”
Worksite health programs provide significant results for both employers and employees. Numerous studies conclude that implementation of worksite health programs helps improve both access to care and health program enrollment. As the health of the employee population improves, absenteeism decreases and productivity increases. According to the 2005 Chapman study, programs like the Aetna Health Connections Direct2You worksite health and wellness program, coupled with Concentra medical providers, are shown to yield an ROI of $5-6 per every $1 an employer invests into the program. The key to this model is the effectiveness of face-to-face engagement with employees desiring to improve their overall health and well-being.
“We welcome this opportunity to bring our worksite health solutions to patients through Aetna’s vast member network,” said Mike McCollum, Senior Vice President of Concentra Health Solutions. “The addition of Concentra’s expertise in workplace health care delivery to Aetna’s Direct2You program offers the ability to provide effective wellness programs in a high quality and consistent manner to employees, and is perfectly aligned with our mission of improving America’s health, one patient at a time.”
The new Aetna Health Connections Direct2You program, including Concentra’s worksite services, is available to all Aetna national account customers, regardless of product, platform, or funding. The program is available to Aetna members of the plan sponsor, as well as others that the plan sponsor defines as eligible. Plan sponsors will establish the physical infrastructure of the clinic at their location, with consultation provided by Concentra. Lead times for implementation vary, but average three to four months for completion. The effective date for a worksite clinic is determined by employers and does not have to be tied to health or benefit plan effective dates.
During the past 30 years Concentra has developed a reputation as the country’s leading provider of occupational health care by advancing the treatment of workplace injuries. Today, Concentra TotalCare presents a new option in employee health care by targeting the behaviors and issues that lead to poor health and chronic conditions; at the same time, it yields a cost-savings to employers. For more information about the Concentra TotalCare solution and to learn how this comprehensive new program could enhance an existing health benefits program, visit www.ConcentraTotalCare.com.
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April 23, 2009
PHNS to Manage IT Services for Valley Baptist
PHNS announced that Valley Baptist Health System, a hospital system based in Harlingen and Brownsville, Texas, has entered into a ten-year agreement for PHNS to manage and provide all of Valley Baptist’s information technology (IT) services. PHNS will enhance Valley Baptist’s IT services, expertise and cost-effectiveness through PHNS’ detailed and clinically focused IT processes and procedures, and through leveraging PHNS’ centralized, highly efficient national hospital IT services delivery platform . PHNS also will relocate Valley Baptist’s data center to PHNS’ national subterranean data center to provide high availability, disaster recovery and business continuity services. In addition, PHNS’ experienced EMR/EHR implementation team will assist Valley Baptist in completion of its EHR implementation. Valley Baptist’s IT employees will remain as employees of Valley Baptist but will be managed by PHNS.
“Valley Baptist has put our entire IT service delivery into PHNS’ hands because of PHNS’ excellent record of success in rapidly improving the efficiency, effectiveness and cost of IT services for hospitals,” said James E. Eastham, CEO of Valley Baptist. “We also will benefit from PHNS’ extensive clinical and EHR expertise to assist us in rapidly completing our EHR implementation and expanding the effectiveness of our cutting-edge core measures and quality initiatives.”
“PHNS is very pleased and excited to have been selected to manage and provide IT and EHR services for Valley Baptist,” said Daniel E. Allison, CEO of PHNS. “PHNS will use its extensive hospital IT, HIM and EMR/EHR expertise to transform Valley Baptist’s traditional hospital IT into clinical focused services that assist and enable physicians, nurses and caregivers in providing patient care,” added Richard K. Kneipper, CAO and co-founder of PHNS.
About Valley Baptist: Valley Baptist Health System is a community health service providing spiritually-based health, education and charitable programs in accordance with the teachings and healing ministry of Jesus Christ. Valley Baptist extends many of its services beyond its facilities and into local communities, offering services and expertise to area businesses and other organizations through its Value Partners and other programs including free screenings for the community, support groups and numerous educational opportunities. For more information, visit www.ValleyBaptist.net.
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February 23, 2009
GeneraMedix, Inc. Announces Sale of Innovative Epoprostenol Formulation to Actelion Ltd.
GeneraMedix, Inc. announced today that it has entered into a definitive agreement to sell its improved formulation of epoprostenol sodium for the intravenous treatment of pulmonary arterial hypertension (PAH) to Actelion LTD., a biopharmaceutical company with its headquarters in Allschwil/Basel, Switzerland. Financial terms of the deal were not disclosed.
"This sale speaks directly to our company's ongoing commitment to serving the unique needs of patients in specialty markets, in this case pulmonary arterial hypertension (PAH)," said Ron Quadrel, CEO, of GeneraMedix, Inc. "I'm also very pleased to conclude this transaction with Actelion, a company that is committed to improving the lives of PAH patients through improved treatment options," added Quadrel.
On June 27, 2008, the U.S. FDA approved Epoprostenol for Injection (1.5 mg/ml vial) for the long-term intravenous treatment of primary pulmonary hypertension and pulmonary hypertension associated with the scleroderma spectrum of disease in NYHA Class III and Class IV patients who do not respond adequately to conventional therapy.
The new formulation of epoprostenol uses non-proprietary diluents, and once reconstituted prior to use, it may be stored for up to 48 hours at 25 degrees Celsius or for five days in the refrigerator at 2-8 degrees Celsius. Global patents have been filed for this new formulation. Actelion will be responsible for global development, registration and commercialization for the product.
"We are very pleased to acquire this innovative product as it builds on our commitment to PAH therapy. Actelion has always led the drive in developing innovative therapies for PAH patients and treating physicians, and we believe this new improved formulation could potentially play a significant role in the management of PAH," stated Jean-Paul Clozel, M.D. and CEO of Actelion.
Unlike other epoprostenol formulations approved for PAH, this unique formulation is stable at room temperature for up to 24 hours when diluted and filled into the pump for administration and so can be used without frozen gel packs.
"Having developed this specialty therapy for the PAH market is exciting and positively reflects on the GeneraMedix pipeline and growing reputation in specialty markets," said Robin Smith Hoke, President, Commercial Operations for GeneraMedix. "This deal is also the result of strong partnership with the team at Actelion as well as our equity partners GTCR Golder Rauner LLC, and Ferrer Freeman & Company, LLC."
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