Wednesday August 22, 2007

On 20 July 2007, Meda (STO:MEDAA) announced that it had signed an agreement to acquire all shares in MedPointe. This strategic acquisition has now been completed and consolidation of MedPointe starts immediately. Meda plans to give further information on the acquisition and its impact on Meda in the interim report for the third quarter - to be released on 30 October 2007.

The final purchase price for MedPointe was 5 229 MSEK. This price consisted of 520 MUSD in cash and 17,5 million newly issued Meda shares. The cash component of 520 MUSD was hedged at SEK/USD 6,74 and compared to the current exchange rate this is equivalent to a positive effect of about 100 MSEK. The cash payment was therefore 3 506 MSEK, an amount fully financed through an existing credit facility. The book value of the newly issued shares was set to 98,50 SEK per share. New shareholders in Meda are The Carlyle Group, The Cypress Group LLC, and other US investors, who will have a combined shareholding in Meda of approximately 7%.

The strategic acquisition of MedPointe will establish Meda as a world-class specialty pharma company with full marketing coverage both in the US and Europe and with revenues of around 9 billion SEK. The acquisition of MedPointe is expected to be accretive to Meda's earnings per share at the latest during 2009.

MedPointe is a fast growing US-based specialty pharma company focused on two of Meda's priority areas, Allergy / Respiratory and Pain. The product portfolios are highly complementary. MedPointe's net sales in 2006 were 252 MUSD, representing a 23% growth in local currency compared to previous year. Net sales for the first half of 2007 amounted to around 145 MUSD, which, on an annualised basis, is equivalent to a purchase price revenue multiple of around 2,6. On a pro forma basis, Meda's US operation accounts for about 20% of annual sales. Meda's pipeline which is open for the US market can now be commercialised in own regimen through a wholly-owned subsidiary and thereby retaining 100% of the value of the product assets. Likewise Meda, through its strong European organisation, will be able to capitalise on product development opportunities based on MedPointe's pipeline. The new transatlantic combination will enable Meda to develop synergies both as to geographical markets and product portfolios.

July 30, 2007

STOCKHOLM, Sweden: Swedish pharmaceutical company Meda AB agreed Friday to buy privately owned MedPointe Inc. for US$520 million (376.6 million Euros) in cash and 17.5 million new shares.

MedPointe's main shareholders, private equity firms The Carlyle Group and The Cypress Group, will keep a total stake in Meda of about 6 percent.

"The acquisition establishes Meda as a world-class specialty pharma company with full marketing coverage both in the U.S. and Europe," Meda said in a statement.

Meda shares surged 10.9 percent to 108.5 kronor (US$16.32; 11.82 Euros) on the Stockholm Stock Exchange.

The combined entity will have revenue of about US$1.4 billion (€1 billion). MedPointe, which focuses on allergy/respiratory and pain relief treatments, had 2006 net sales of US$252 million (182.5 million Euros). Its biggest products are Astelin, a nasal spray, and Optivar, which treats allergic conjunctivitis.

May 29, 2007

PSS World Medical to Acquire Activus Healthcare Solutions
Strategic Physician Business Acquisition in Fast-Growing Markets

PSSI announced today that it has entered into a definitive agreement to acquire 100% of the outstanding stock of Activus Healthcare Solutions, Inc. ("Activus"). Activus is a California-based distributor of medical supplies to office-based physicians and ambulatory surgery centers in California, Oregon, Nevada, and Arizona. Activus generates $22 million in annual revenue and adds 14 sales representatives with an average tenure of over 19 years in fast-growing markets.

David A. Smith, Chairman and Chief Executive Officer of PSS World Medical, Inc, commented, "We are excited about this very strategic acquisition for our Physician Business' western markets. After Activus was formed by assembling a sales team from many of the leading physician distributors, they rapidly achieved a strong presence in these important, fast-growing markets. Our business in California is experiencing strong growth. The Activus sales team will accelerate our expansion, while they will benefit from a broader product offering, superior marketing programs and exclusive agreements with our supplier partners."

All current Activus operations will be consolidated into the Company's facilities in Phoenix, AZ, Fullerton, CA, and Sacramento, CA. The acquisition is expected to reduce the Company's earnings per share by approximately $0.01 in fiscal year 2008 due to transition and integration costs, but will be accretive to earnings within 12 months. Terms of the transaction were not disclosed.

PSS World Medical, Inc. is a national distributor of medical products to physicians and elder care providers through its two business units. Since its inception in 1983, PSS has become a leader in the two market segments that it serves with a focused market approach to customer services, a consultative sales force, strategic acquisitions, strong arrangements with product manufacturers and a unique culture of performance.

April, 2007

Genova Diagnostics Buys Texas Reference Lab

Clinical laboratory Genova Diagnostics (Asheville, NC), which focuses on niche diagnostics with specialized test panels, has purchased the operating assets of AAL Reference Laboratories (AAL; Austin, TX), known for its emphasis on hormone testing. The purchase includes testing equipment, clinical test panels, and the customer base of AAL. Beginning March 26, Genova assumed all testing performed by AAL. Financial terms of the deal were not disclosed.

AAUs line of hormone tests include serum-, saliva-, and urine-based tests, which Genova CEO Ted Hull expects to augment Genova's existing product lines in immunology and nutrition testing.

Earlier this year, Genova acquired Individual Wellbeing Diagnostic Laboratory (IWDL; London, England), giving the company its first European laboratory.

IWDL provides allergy and nutritional testing, including analysis for amino acids, fatty acids, vitamins, cardiovascular risk, and oxidative stress.

Founded in 1986 as Great Smokies Diagnostic Laboratory, Genova offers over 125 specialized diagnostic assessments, including genetic markers for gastrointestinal, endocrine, metabolic, and immune function. The laboratory changed its name to Genova Diagnostics in April of 2006 to better reflect its technology, services, and geographic reach.

February 26, 2007

DALLAS, TX- February 26, 2007 – PHNS today announced that it has signed a multi-year agreement to assist Baton Rouge General Medical Center (BRGMC) and General Health System (GHS), Baton Rouge, Louisiana with its deployment of a wide range of new clinical systems to support nurses, physicians, pharmacists and other members of the care team in the delivery of safe, effective care at BRGMC and its surrounding ambulatory care settings. The new technologies from McKesson Corp. will support BRGMC and GHS in developing an electronic health record (EHR) that spans both inpatient and outpatient settings for greater continuity of care regardless of where patients seek medical services.  

“Because we’re a regional community hospital, we are aggressively creating an environment that enables physicians to work more collaboratively to the ultimate benefit of our patients and the community we serve,” said Bill Holman, president and chief executive officer of BRGMC/GHS. “We’re pleased to have PHNS, our long-time information technology partner, assist us in implementing and managing this important new clinical system.”

“Implementing these new technologies will ensure that Baton Rouge General Medical Center will stay at the forefront of healthcare delivery and technology innovation, and we’re very proud to be a part of their outstanding team,” said Chick Young, chairman and chief executive officer of PHNS.

About Baton Rouge General Medical Center :  BRGMC is the only community-owned, not-for-profit, full service hospital in Baton Rouge. Established in 1900 as the region’s first hospital, the organization is dedicated to improving the health and quality of life of citizens by providing for their healthcare needs in a compassionate and caring environment, with access to the latest in medical technology and treatment.

BRGMC is currently engaged in an extensive construction project that will increase its licensed bed capacity to 546 beds. The General serves the community from two hospital campuses — Mid City and Bluebonnet. Signature programs include the Pennington Cancer Center, Milton J. Womack Heart Center and Kirk’s Kid’s Pediatric Center. BRGMC also provides surgical services, women’s services, obstetrics, diabetes, burn treatment and comprehensive inpatient and outpatient physical rehabilitation services.

February 13, 2007

Volcano Corporation Announces Distribution Agreement for Peripheral and Endovascular IVUS Indications in Japan

Concentra Agrees to Sell Its Workers' Compensation Managed Care Services Businesses to Coventry Health Care, Inc.

Addison, Texas - Concentra Operating Corporation ("Concentra" or the "Company") today announced that it has signed a definitive agreement to sell its workers' compensation managed care services business units to Maryland-based Coventry Health Care, Inc. ("Coventry") (NYSE:CVH). Total consideration in the sale is $387.5 million, to be paid in cash at closing.

The business units that Concentra plans to divest in the transaction are its Workers' Compensation Network Services (comprising its provider bill review and repricing services, and its FOCUS preferred provider organization), Field Case Management, Telephonic Case Management, Independent Medical Exams, and its Pharmacy Benefit Management business (First Script Network Services). These businesses generated a total of approximately $324 million of revenue in 2006.

The transaction is expected to be completed in 90 to 180 days, subject to closing conditions as well as regulatory and other customary approvals. Concentra estimates that the transaction will result in net after-tax proceeds of approximately $265 million, of which it currently anticipates that approximately $255 million will be used to prepay of a portion of its senior term indebtedness.

Commenting on the announcement, Concentra's President and Chief Executive Officer, Daniel J. Thomas, said, "We are excited about the prospects for our company in view of this transaction. Our customers will be well served by the combination of Concentra and Coventry's workers' compensation services businesses. When the sale is completed, Concentra will continue to own and operate the largest national network of health centers and to be the premier provider of cost-containment, claims review and repricing, and network management services to group health and auto insurers. With our strong position in these growing markets, and with our continuing businesses producing over $1 billion in annual revenues, we expect that our focus on these core business lines will produce attractive growth opportunities for Concentra in the years to come."

Dale B. Wolf, Chief Executive Officer of Coventry Health Care, added, "We are excited about the opportunities this transaction presents. These Concentra businesses and the talented professionals operating these businesses, when combined with our existing workers' compensation operations, will result in a well integrated service offering that will be attractive to our customers."

Coventry Health Care is a national managed health care company based in Bethesda, Maryland, operating health plans, insurance companies, network rental, managed care and workers' compensation services companies. Coventry provides a full range of risk and fee-based managed care products and services, including HMO, PPO, POS, Medicare Advantage, Medicare Prescription Drug Plans, Medicaid, Workers' Compensation services and Network Rental to a broad cross section of individuals, employer and government-funded groups, government agencies, and other insurance carriers and administrators in all 50 states as well as the District of Columbia and Puerto Rico. More information is available on the Internet at www.cvty.com.

Concentra Operating Corporation, a wholly owned subsidiary of Concentra Inc., is dedicated to improving the quality of life by making healthcare accessible and affordable. Serving the occupational, auto and group healthcare markets, Concentra provides employers, insurers and payors with a series of integrated services that include employment-related injury and occupational healthcare, urgent care services, in-network and out-of-network medical claims review and repricing, access to preferred provider organizations, case management and other cost containment services. Concentra provides its services to approximately 200,000 employer locations and more than 1,000 insurance companies, group health plans, third-party administrators and other healthcare payors. The Company has 310 health centers located in 40 states. It also operates the Beech Street PPO network.

This press release contains certain forward-looking statements, which the Company is making in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and that the Company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in nationwide employment and injury rate trends; operational, financing and strategic risks related to the Company's capital structure, acquisitions and growth strategy; the adverse effects of litigation judgments or settlements; interruption in its data processing capabilities; the potential adverse impact of governmental regulation on the Company's operations; competitive pressures; adverse changes in market pricing, demand and other conditions relating to the Company's services; possible fluctuations in quarterly and annual operations; and dependence on key management personnel. Additional factors include those described in the Company's filings with the Securities and Exchange Commission.

Source: Concentra Operating Corporation

Central Line Infusion Opens New Specialty Infusion Facility In Houston

Irvine, California, February 8, 2007 – Amerita, Inc. announced the opening of a new full-service infusion pharmacy at 4001 West Sam Houston Parkway North, Suite 120 in Houston, Texas. According to the company, the Central Line Infusion facility will provide specialty infusion services to patients in the Greater Houston marketplace from a new location specifically designed to meet or exceed the stringent new standards set for sterile compounding (USP 797). The new location expands Amerita’s current service area into Southeast Texas and gives the company an opportunity to compete in the fourth largest city in America.

“Houston is an important marketplace for Amerita,” said Jim Glynn, the company’s president and CEO. “It would be impossible for our company to offer state-wide service without a foothold in Houston. The decision to build a totally new location versus buy an existing operation was based on our ability to recruit a strong management team with extensive market experience.”

“Healthcare is a local business,” said Ray McCaslin, the general manager of the new Central Line Infusion branch. “Amerita’s philosophy is to keep decision making close to the customer in order to provide our clients with outstanding clinical and customer service. This local approach is just what this industry needs to bring patient care, customer service and responsiveness back into focus. We will also benefit from the purchasing power and administrative savings a larger company can bring to a local business. ”

Specialty infusion therapy services primarily involve the intravenous administration of medications that treat a wide range of acute and chronic health conditions such as infections, auto-immune illnesses, cancer, pain, multiple sclerosis, hemophilia and nutritional deficiencies. To ensure quality, medications are compounded in a sterile clean room, dispensed under the supervision of a local registered pharmacist and delivered directly to the home of the patient. A registered nurse then ensures safe administration of the medication.

October 11, 2006

Ernest Health, Inc. celebrates ground-breaking for new hospital in Greenwood, SC.

Ernest Health, Inc., a health service provider treating patients recovering from stroke, head and spinal cord injury, and other functional deficits as a result of injury or illness will construct and operate a 46-bed, state-of-the-art rehabilitation hospital on Genesis Circle near Beckman Mental Health Center.

The first of its kind in the area, the hospital will be a one-story, 51,700 square feet facility. Approximately 130 new health-care related jobs will be created from this endeavor.

Ernest Health, Inc. will incorporate the project in Greenwood, South Carolina as Greenwood Regional Rehabilitation Hospital. Construction is expected to take approximately nine months, and the hospital expects to begin admitting patients as early as July of 2007.

The Albuquerque, New Mexico-based company operates post-acute hospitals in New Mexico, Texas, Colorado, Arizona and Idaho. In addition, the company is currently constructing facilities in Provo, Utah; Boise, Idaho; and Billings, Montana.

“We selected Greenwood because of its vibrancy and overall demographics,” said
Darby Brockette, President/CEO of Ernest Health, Inc. “The present medical facilities will allow us to add additional support to the wonderful medical treatment already provided. The support of Self Regional Healthcare and Greenwood Partnership Alliance was integral in our decision to expand into Greenwood county.”

Jeff Fowler, CEO of Greenwood Partnership Alliance, said the high-tech medical services and unique care of Ernest Health will be invaluable to those needing post-acute treatment.

“The patients and their family and friends will be able to stay in our community for these services,” said Fowler. “We are pleased that Ernest Health will be locating here. Our business and civic leaders are to be congratulated for their foresight and efforts in assisting Ernest Health in its expansion to Greenwood.”

The ground-breaking ceremony has been scheduled for October 11th at 3:00 p.m. at the site. Featured speakers include, Greenwood Mayor, Floyd Nicholson; John Heydel, Self Regional Healthcare CEO; Darby Brockette, Ernest Health CEO; Edith Childs, County Councilwoman, and Jeff Cochrell, community member.

Article in Pharmaceutical Executive

Paul Edick, CEO of MedPointe, says specialty pharma companies are looking for new drugs in their own labs-an R&D paradigm that takes them…Back to the Future

As Pharmceutical Executive celebrates its 25th anniversary, the specialty pharmaceutical sector can reflect on 15 years of history. The story starts in 1991, when the landscape was dominated by the likes of Merck, Glaxo, Bristol-Myers Squibb, Ciba Geigy, SmithKline Beecham, and Sandoz. It was a golden age. New chemical entities for the treatment of unmet medical needs were plentiful, and FDA approvals nearly so. The low hanging R&D fruit was largely unpicked. The reimbursement evnironment was easy. The impact of the independent generics firms was still slight, and the havoc they wreaked on branded franchises was but a glimmer of what

it has become today. Profit margins, which routinely exceeded 25 percent of net sales, were fat. The top ten pharma companies controlled 32 percent of global sales. Jobs were being created; globalization was in full swing; investors reaped handsome returns from soaring share prices.

Pioneers

At the same time, specialty companies were emerging from infancy. The movement was led by

Alza, the drug delivery pioneer, and Medeva and Elan, two brash Anglo roll-ups founded and led by former Big Pharma executives. These firms joined a smattering of precocious upstarts, such as Medicis (which was founded through a merger in 1988) and King Pharmaceuticals, to anchor a new age. They joined or were followed by KOS, Endo, Forest Laboratories, and many others of odd shapes and sizes that didn’t fit neatly among the pantheon of industry giants. For many of these young, rapidly-growing firms, the early 1990s was a time of a new but fundamentally flawed strategy that played itself out over the next decade: achieving high-octane growth via acquisitions. Many companies demonstrated prowess at acquiring marketed, branded pharmaceuticals products and using these drugs to build field sales capacity and infrastructure, reach specialists and primary care physicians, and generate phenomenal sales growth and returns for investors. The problem, however, was that this business model was finite—without a concurrent investment in the R&D pipeline, it was unsustainable.

Wanted: Big Pharma’s Cast-Offs

As Big Pharma entered a period of sustained corporate consolidation throughout the ‘90s, specialty pharma began clamoring to acquire the “non-core, non-strategic” products to which the larger companies were unable to pay an appropriate level of attention. These were the expendable, underpromoted assets that sucked up Big Pharma’s management time and dragged on top-line growth. Within specialty pharma, the race was on to see who could acquire these assets the fastest. And therein lay the problem: The growth and profitability expectations

that were created as more specialty companies entered the race became unachievable. It seemed as though venture capitalists were creating a new specialty pharma firm a month. The prices for Big Pharma’s divested assets grew higher, challenging the acquirer’s ability to a decent ROI. The days of cozy, backroom product acquisitions were replaced by professionally managed, investment banker-led auctions, openly seeking the highest bidder. The pace of divesting assets, which by 1993 had been a torrent, had dwindled to a trickle by the early to mid-2000s. The corporate consolidations had largely run their course. Big Pharma was getting fewer new products through the FDA approval process, changing the perception of slow-growth assets. These formerly non-core products were now cash cows that covered pressure on operating cash flows—at least so long as the threat of generic encroachment could be minimized.

Further Competition

Beyond acquiring new assets, the competitive environment for specialty pharma has undergone

enormous change: Paragraph IV certifications, reimportation, managed care practices, wholesaler inventory management programs, shorter product lifecycles, and armies of sales reps competing for physician attention are but a few of the new obstacles that have emerged over the past 10 years.  Collectively, they have mandated strategic change in the specialty pharma business model. At MedPointe, a specialty company descended from the leveraged buyout of Carter-Wallace, we’ve changed our model to reflect these dynamics. Today, we acquire and license marketed products, but also conduct R&D, expenditures which have grown from four percent of net sales in 2003, and will exceed 12 percent of net sales in 2006. While the early days in specialty pharma yielded a bonanza for companies that grew quickly through inorganic means, the pendulum has swung in the other direction. In many respects, it’s back to the future. A blend of acquisitions—both product and technology—and internal , organic growth through new product innovation is the way forward.

Pelican Life Sciences Expands its portfolio with three acquisitions

Pelican Life Sciences announced that it has completed the acquisitions of Continental Laboratory Products, Inc. (CLP), PGC Scientifics Corporation (PGC) and Kemp Biotechnologies Inc. (Kemp). Founded in 1989 and headquartered in San Diego, California, CLP is a leading manufacturer of disposable fluid handling plastics, reagents and instrumentation used in molecular biology research. CLP’s ISO certified manufacturing operations are located in Baja, Mexico with distribution facilities in San Diego, California, Charlottesville, Virginia and Northampton, U.K. For further information, please visit www.clpdirect.com.

Located in Frederick, Maryland, PGC is a leading manufacturer and distributor of molecular biology and scientific product consumables. With a focus on niche consumables, PGC has been a leading supplier for more than 40 years to the academic, government and biotech research market. Included with the acquisition of PCG is its wholly owned manufacturing subsidiary Labcor Products, Inc. For further information, please visit www.pgcsci.com or www.labcorproducts.com.

Kemp Biotechnologies supports the research of public and private sector laboratories by providing expertise in cell culture, protein expression, and protein purification on a contract basis. Through Kemp’s wholly owned subsidiary, GeneChoice, Kemp provides a full line of molecular biology reagents and kits used in scientific research. Kemp was founded in 1992 and is located in Frederick, Maryland. For further information, please visit www.kempbiotech.com or www.genechoice.com.

These three new acquisitions combined with the acquisition of PML Microbiologicals in December of 2005, form a solid foundation for Pelican Life Sciences. For further information, please visit www.pelicanls.com.

Volcano Corporation Announces Pricing of Initial Public Offering

Volcano Corporation (NASDAQ: VOLC) announced the initial public offering of 6,800,000 shares of common stock at a price of $8.00 per share. Volcano has granted the underwriters an option to purchase up to an additional 1,020,000 shares at the initial public offering price to cover over-allotments, if any. The common stock will trade on the Nasdaq National Market under the symbol "VOLC."

J.P. Morgan Securities Inc. and Piper Jaffray & Co. are serving as joint book-running managers for the offering, with Bear, Stearns & Co. Inc. and Cowen and Company, LLC serving as co-managers.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Founded in 2000, Volcano Corporation develops, manufactures and commercializes a broad suite of intravascular ultrasound and functional measurement products that enhance the diagnosis and treatment of vascular and structural heart disease.
For further information, contact investor relations at (916) 281-2645 or www.volcanocorp.com

Thomas Patton, Advisor to FFC, named Chief Executive Officer of Informed Medical Communications (IMC)

5/17/06 - Mr. Patton joins IMC with extensive experience in leading an array of private and public healthcare companies. Most recently, he was the CEO and founder of QDx, Inc., a diagnostic development company which explores new methods of hematology analysis. He remains an Advisor to Ferrer Freeman & Company, one of IMC's investors. Prior to that, Mr. Patton was the President of Novametrix Medical Systems, Inc., a publicly traded worldwide leader in cardiopulmonary monitoring products for critical care patients. The company also had a division focused on providing unique medical disposables for premature infants.

He has also served as the President and CEO of Wright Medical Technology, Inc., an orthopedic device company located in Memphis, TN. At Wright, Mr. Patton led a successful turnaround of the company, orchestrated its recapitalization led by a large private equity firm and increased revenues to $140 million. Before that, Tom served in various capacities at Wright Medical, including as General Counsel and EVP of Business Development.

Over the last two years, IMC has grown by 117% from $23 million in pro forma revenues in 2003 to $50 million in revenues for 2005.

Mr. Patton started his career as a litigation attorney in Washington, D.C., after graduating from Georgetown Law School and Holy Cross College. For further information, please visit www.informedmedical.com.

Norman C. Payson, M.D. Joins Concentra as Chairman of the Board

Addison, TX - Concentra Inc. ("Concentra" or the "Company"), today announced that it has named Norman C. Payson, M.D., as its non-executive Chairman of the Board of Directors.

Dr. Payson, age 57, has spent over two decades as a leading health plan manager and entrepreneur. From 1998 through 2002, he was Chief Executive Officer of Oxford Health Plans, leading its turnaround and subsequent growth to nearly $6 billion in revenues. Prior to that, Dr. Payson was Chief Executive Officer of Healthsource, Inc. from its inception in 1985 through its growth to over three million members and sale to CIGNA Corporation in 1997. Dr. Payson presently serves on the Board of Directors for Baltimore-based XLHealth, a disease management company, and several health care charitable and educational institutions.

In addition to Board duties, Dr. Payson will oversee strategic direction of the Company and will work actively with the Company's senior management team in pursuing Concentra's growth and performance objectives. In this role, he will work closely with the Company's officers, providing guidance and advice reflective of his experience in managing, growing and maximizing shareholder value for public and private companies. In connection with his appointment, Dr. Payson will make an initial $10 million purchase of Concentra Inc. common stock. Additionally, he will receive awards of unrestricted and restricted stock and options to purchase additional shares of common stock.

Commenting on the announcement, Daniel Thomas, Concentra's President and Chief Executive Officer, said, "We are delighted to announce the addition of Dr. Payson to chair our Board. As a distinguished health care executive, he brings a wealth of experience to our Company that will complement our team and provide leadership for Concentra as we pursue our Company's growth. With a strong reputation in health care economics and business, we believe Dr. Payson will enhance our Company's stature among current and prospective clients and customers."

Dr. Payson said, "I am very enthusiastic about joining Concentra. Concentra has achieved success in the field of workplace healthcare and has brought that experience into many related and complementary businesses with significant growth potential. I am honored to play a role in this exciting Company."

Dr. Payson is a member of the Board of Overseers and an adjunct Professor at Dartmouth Medical School. He also serves on the Boards of Advisors for the Health Sciences Technology Divisions of the Massachusetts Institute of Technology and Harvard Medical School and is on the Board of Advisors of the Mailman School of Public Health at Columbia University. Dr. Payson is a graduate of the Massachusetts Institute of Technology and received his MD at Dartmouth Medical School.

Ernest Health, Inc. Announces New Hospital Construction in Provo, Utah

Provo, Utah - Ernest Health, Inc., a health service provider treating patients recovering from strokes, head and spinal cord injuries and other functional deficiencies as a result of injury or illness will construct and operate a 40 bed, state-of-the-art long term acute care hospital at 306 West River Bend Lane in Provo, Utah. The first of its kind in Utah County, the hospital will be a two-story, 48,000 square feet facility. Approximately 150 new health-care related jobs will be created from this endeavor.

Ernest Health, Inc. will incorporate the project in Provo as Utah Valley Specialty Hospital. They expect to begin admitting patients as early as Fall 2006.

The Albuquerque, New Mexico-based company has post-acute hospitals open in Johnstown, Colorado; Brownsville, Texas and Las Cruces, New Mexico and post-acute hospitals under construction in Post Falls, Idaho; Mesquite, Texas; Laredo, Texas and Prescott Valley, Arizona. "We selected Utah Valley because of its growth, vibrancy and overall demographics," said Darby Brockette, President/CEO of Ernest Health, Inc. "The present medical care provided by Utah Valley Regional Medical Center and other surrounding Hospitals will allow us to add additional support to the wonderful medical treatment already provided. The support of Provo Economic Development and Utah Valley Regional Medical Center were integral in our decision to expand into Utah County.

The groundbreaking ceremony has been scheduled for November 2nd, 2005 at 10:00 a.m. at the site. Provo Mayor, Lewis K. Billing and Mr. Dave Cark, Vice President of Urban South IHC will participate in the ceremony.

VOLCANO Corp. Announces Commercial Release of VH™ IVUS System

Groundbreaking Ultrasound Technology is Poised to Re-Shape Assessment of Coronary Artery Disease

Rancho Cordova, California - Volcano Corporation today announced the commercial launch of its patented VH™ IVUS system -- the first technology to enable real time (in the cardiac catheterization lab) compositional assessment of atherosclerotic plaques in coronary arteries. The VH™ IVUS technology is now available on new VOLCANO systems or as an upgrade to VOLCANO's installed base of Intravascular Ultrasound ("IVUS") systems in medical centers throughout the world.

An Important Advance in Diagnostic Imaging

Previously, assessment of atherosclerotic disease was limited to 2D views of symptom-causing narrowings of the coronary arteries by way of contrast agent-enhanced X-Ray imaging. More recently, grayscale IVUS allowed for quantification of atherosclerotic plaque build-up, in addition to providing precise measurements of vessel anatomy to guide optimal angioplasty or stent-based treatment.

Volcano's new VH IVUS technology uses advanced spectral analysis techniques to allow simplified interpretation of ultrasound images and provide detailed information on the composition of each patient's atherosclerotic plaques. The colorized VH images show four plaque component types: fibrous, fibro-fatty, dense calcium, and necrotic core. VH IVUS images are created using VOLCANO's imaging console along with the Eagle Eye Gold IVUS imaging catheter. Images are displayed live, in the cath lab for easy review by the interventional cardiologist and his or her staff while the patient remains on the table. No changes to standard clinical practice are required to employ VH IVUS. This novel technology provides automated measurement tools to simplify image interpretation and employs a pre-determined color key to display plaque composition at a specific point in the artery or across a region of interest. Please visit www.volcanocorp.com/vhintro/ for more detailed information on the technique and product.

"We are thrilled to bring this groundbreaking product to market" commented Scott Huennekens, President & CEO, Volcano Corp. He continued, "VH IVUS is the culmination of over 10 years of research and development at The Cleveland Clinic Foundation and Volcano. By simplifying IVUS use and by providing important new information to the interventional cardiologist, we are confident that VH IVUS will improve the treatment of patients and help to further expand IVUS use in percutaneous coronary interventions."

Comments from Early Collaborators

"VH™ IVUS is the first IVUS system capable of providing information in the cardiac catheterization laboratory about the plaque composition" said Martin B. Leon, MD Chairman of the Cardiovascular Research Foundation® and the Associate Director of the Center for Interventional Vascular Therapy (CIVT) at Columbia University Medical Center, New York City. Dr. Leon continued, "This impressive technology will assist us in interpreting our ultrasound results and is expected to provide important new information to guide the management of our patients. We are aggressively studying this new technology and assessing its optimal role in the cath lab."

Professor Patrick W. Serruys, Thoraxcentre, Erasmus Medical Center, Rotterdam, The Netherlands commented: "The use of IVUS today is generally focused on providing geometric measurements of the vessel and lumen. Due to IVUS' inability to display plaques other than as grayscale renderings, interventionalists have had difficulty drawing conclusions about the plaque type or disease type seen in individual patients. Plaque imaging using VH IVUS will provide key information and may shift the paradigm of how we diagnose and manage patients with cardiovascular disease."

April 26, 2005

Preferred Care Partners Set to Acquire Neighborhood Health Partnership's Medicare Business

Miami, FL - Business Wire - In a joint statement, Preferred Care Partners ("Preferred Care") and Neighborhood Health Partnership ("NHP") announced today that they have signed a Definitive Agreement in which Preferred Care will acquire the Medicare business of NHP. This transaction will require the approval of the Centers for Medicare and Medicaid Services ("CMS") and both organizations project a possible effective date of June 1, 2005. The transaction will make Preferred Care the largest privately-owned Medicare Advantage Health Plan in South Florida. NHP will continue to operate its Commercial HMO business in Miami-Dade, Broward and Palm Beach counties.

Mr. Joseph L. Caruncho, Chief Executive Officer of Preferred Care Partners Holding Corp., the parent company of Preferred Care stated that "this acquisition enables us to offer our innovative PSO model to a wider cross section of Medicare beneficiaries in the South Florida Market. We intend to continue the course set by NHP of providing a high level of service to both members and providers." For NHP members transitioning over to Preferred Care Partners, the change will be seamless and their benefits will remain unchanged for 2005. This acquisition covers all 38,000 members currently enrolled with NHP's Medicare Advantage program and will bring Preferred Care's membership to more than 45,000, once it is effective.

Mr. Joseph R. Papa, NHP's Chairman and Chief Executive Officer stated that "Preferred Care shares our long standing commitment to both seniors and physicians in South Florida, so I know that Preferred Care will continue to provide the type of service and commitment to our members that they have become accustomed to in the past. At a time when specialization by regional managed care plans is more prevalent than ever, this transaction will provide NHP with additional capital resources to focus on an aggressive growth plan for its Commercial business, particularly in Broward and Palm Beach counties while Preferred Care will continue to service and grow a robust Medicare membership in the same region." Both Caruncho and Papa agree that this will be a positive move forward for both organizations, as well as their members and providers.

"This will be a smooth transition with a continued commitment to being a low hassle partner for physicians and members," said Justo Luis Pozo, President of Preferred Care. "Our success has been based on empowering physicians, and this transaction will not change that commitment," said Dr. Orlando Lopez-Fernandez, Chief Medical Officer of Preferred Care.

Preferred Care Partners has partnered with Ferrer Freeman & Co., a private equity firm located in Greenwich, CT, that invests exclusively in healthcare and healthcare-related companies, to consummate the acquisition.

Preferred Care is a Provider Sponsored Health Plan contracted with CMS to offer Medicare Advantage plans to Medicare beneficiaries in the South Florida market. Its unique PSO model focuses on empowering physicians to make clinical decisions for their patients in a manner that reduces costly administration. Since beginning operations as a Medicare Advantage Plan in 2002, the Company has seen significant growth and was named the fastest growing, privately held company in South Florida by the South Florida Business Journal. Its principal offices are located at One Datran Center, 9100 S. Dadeland Blvd., Suite 1250, Miami, Florida.

NHP is an HMO licensed by the State of Florida and currently operates in Miami-Dade, Broward and Palm Beach Counties. Born out of a coalition between Dimension Physician Hospital Organization and John Alden Insurance, it has been in operation since 1994. In July of 2002, NHP was acquired by private interests from the former provider owners and has grown to become the largest HMO operating in Miami-Dade County since that time. NHP has its principal offices at 7600 Corporate Center Drive in Miami.

March 2, 2005

Peer Group and HealthTalk Merge and Launch New Health Marketing Service Network

Major Private-Equity Firms Fund Informed Medical Communications and Mergers. Combination Creates Biopharmaceutical Marketing Company with Expanded Interactive Educational Products and Services to Physicians and Patients

New York, NY, Edison, NJ and Seattle, WA - The Peer Group, a peer-oriented medical education company, and HealthTalk, Inc., a patient-education enterprise delivering live- and web-based programs on new research and treatments, announced today their merger. The combination marks the launch of a new biopharmaceutical marketing network with interactive educational products and services to physicians and patients called Informed Medical Communications (IMC). The companies have combined revenues of more than $35 million.

The transaction’s lead investors include Ferrer Freeman & Co., LLC, a healthcare private-equity firm based in Greenwich, Connecticut, and Frazier Healthcare Ventures, a Seattle-based venturecapital firm.

IMC will provide biotechnology and pharmaceutical companies with a spectrum of products and services including: interactive and live physician and patient programs; call-center services and primary and syndicated market research. The combined Company offers clients access to more than 400,000 physicians, a patient database of people with chronic illnesses, and clinical experience in some 30 disease-states (e.g., oncology, asthma, multiple sclerosis, cardiovascular, Crohn’s disease and migraine).

Robert Goodman, formerly CEO, HealthTalk, was named CEO of IMC.

“One of the most pressing marketing challenges among biopharmaceutical clients is enhancing the discussion between physician and patient, and caregiver and patient around product selection,” stated Mr. Goodman. “The Peer Group and HealthTalk merger will help pharmaceutical brand staff better address this need.”

The Peer Group and HealthTalk merger was funded by two well-regarded names in healthcare private equity – Ferrer Freeman & Company, LLC, and Frazier Healthcare Ventures. The two private-equity firms provided funding for the launch of IMC and have earmarked funds to support future growth and acquisitions.

“The companies are extremely complementary in terms of audience, types of programs and clients, with extensive synergies and minimal overlap,” commented Tom Flynn, partner, Ferrer Freeman & Company, LLC, an investor in the business. “The combination truly represents a unique and differentiated offering for their clients and current and future members.”

Both Peer Group and HealthTalk have 20 years of experience developing promotional and educational programs for their clients. The Peer Group has been a leading marketing company among healthcare professionals and the pharmaceutical industry through the use of its unique peer-to-peer format and services. HealthTalk has helped patients with chronic illnesses better understand their health options by providing the latest research and treatments through live- and web-based educational programs.

When working together, the two companies will be able to provide an integrated and targeted approach to physician and patient communications. During their 20 year histories, they have contributed to the market success of more than 95 healthcare products for 15 of the top 25 pharmaceutical companies.

“The merger brings together two enterprises with a history of placing clients’ needs in the forefront. The combined resources significantly enhance our capabilities to provide clients with a broader range of services that improve physician-patient dialogue,” said Robert Goodman.

As parent company, IMC will operate the branded businesses of The Peer Group and HealthTalk as wholly-owned subsidiaries based from their Edison, NJ, and Seattle, WA, locations. The board of directors will include: Robert Goodman, Harris Kaplan, CEO of HealthStat, LLC, Tom Flynn and Ted Lundberg of Ferrer Freeman & Company, LLC, and Alan Frazier and Patrick Heron of Frazier Healthcare Ventures.

Patrick Heron, Partner with Frazier Healthcare Ventures, noted, “As an early stage investor in HealthTalk, we are excited about the future opportunities of the business because of the exceptional management team and experienced operating professionals in both companies. They have an impressive track record of growing the business and reputation for delivering high quality, innovative programs.”

February 24, 2005