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Health Plan News

Timely Health Plan News and Commentary

Health Plan News
Home Archives for Healthcare Business

Healthcare Business News

The business of health care moves through deals, earnings, funding rounds and leadership changes. This section of Health Plan News covers the corporate side of the industry across insurers, providers, pharmacy companies and health services vendors.

What We Cover

We report on mergers and acquisitions, divestitures, quarterly and annual financial results, bankruptcies and restructurings, venture capital and private equity investment in health care companies, initial public offerings (IPOs), strategic partnerships, major contract awards, and executive and board appointments. Where a transaction affects members or patients, such as a carrier selling a business line or a provider group joining a larger system, we explain what changes and what does not.

Why Business News Matters to Health Plan Members

Consolidation shapes the market. When insurers acquire provider groups, when health systems merge, or when a pharmacy benefit manager is bought by a carrier, the result can change networks, pricing and access to care. Financial results also signal where carriers are expanding and where they are pulling back, which often foreshadows the plan changes announced during open enrollment.

Business news is linked closely with our other sections. Carrier earnings and strategy appear alongside Health Insurance Companies and Blue Cross Blue Shield coverage. Provider transactions connect to Hospitals and Health Systems. Funding for digital health and artificial intelligence (AI) startups connects to Health Technology and AI, and antitrust review of large deals appears in Healthcare Policy and Law.

The latest healthcare business news appears below, newest first.

Correction: Vigil Health Solutions Reports Q1 Results, Sales Bookings Up 26%

Posted on August 9, 2010 Written by Editor

VICTORIA, BRITISH COLUMBIA–(Marketwire – Aug. 9, 2010) –Marketwire would like to issue a correction for the press release issued at 12:30 PM ET. The URL for Vigil’s Financial Statements contained incorrect HTML coding. The proper link is http://www.vigil.com/?Investors:Financial_Statements. The corrected release follows:

 Vigil Health Solutions Inc. (TSX VENTURE:VGL) (“Vigil”) announces the results of operations for the quarter ending June 30, 2010.

Business highlights

  • Grew bookings 26% for the quarter to $955 thousand compared to $755 thousand for the three-month period ended June 30, 2009.
  • Increased backlog 14% to approximately $3.1 million compared to approximately $2.72 million at June 30, 2009.
  • Revenue was $641 thousand for the three-months ended June 30, 2010 compared to $1.37 million in the three-month period ended June 30, 2009, a decrease of 53%. The decrease reflects lower bookings in FYE2010 and the timing in projects commissioned.
  • Expanded revenue from service and maintenance agreements and one-off sales by 72% during the quarter ended June 30, 2010 to $298 thousand.

“I am encouraged with our increased sales bookings which I believe is a positive indication of both the improvement in the economy, as well as our continued investment in sales and marketing,” stated Troy Griffiths, President and CEO of Vigil Health Solutions Inc.

Financial Results

Revenue for the three-months ended June 30, 2010 was $641 thousand compared to $1.37 million in the three-month period ended June 30, 2009, a decrease of 53%. The decrease in revenue reflects both the reduced number and size of the projects completed during the quarter. Because Vigil records revenue using the completed contract method the number of projects completed this quarter directly reflects a lag related to the timing of the US economic downturn.

Bookings for the quarter were $955 thousand up 26% compared to $755 thousand in the three-month period ended June 30, 2009. The increase in bookings relates to an improvement in the United States economy, specifically, in funding availability for new construction in the seniors living industry as well as the Company’s investment in it sales program.

At June 30, 2010, Vigil had a backlog of approximately $3.1 million (including $1.64 million in deposits and progress billings, recorded as deferred revenue on the balance sheet) a 14% increase compared to approximately $2.72 million (including $1.34 million in deposits and progress billings, recorded as deferred revenue on the balance sheet) at June 30, 2009. This increase is the result of booking more new projects than recorded as revenue during the quarter.

The gross margin percentage for the three months ended June 30, 2010 was 45% compared to 48% for the three months ended June 30, 2009. The gross margin during the period was with in management’s expectations of margins of between 42% and 47%.

Expenditures for the three months ended June 30, 2010 were $465 thousand down 22% from operating expenditures of $599 thousand for the same period ended June 30, 2009. The Company decreased expenditures in all areas. These decreases were the result of a combined strategic effort to focus resources where they would be best utilized.

Net loss for the three month period ended June 30, 2010 was $180 thousand, or $0.002 per share compared to a gain of $66 thousand, or $0.001 per share for the previous year. The increase in losses is primarily attributable to the lower in revenue in the period.

Detailed financial statements along with Management Discussion and Analysis have been filed with SEDAR and may be viewed on the Company web site (http://www.vigil.com/?Investors:Financial_Statements) or at (www.sedar.com).

Financial information will be mailed to entitled security holders on August 16, 2010. Or, upon notice to the Company, entitled security holders may request a copy of financials in advance.

Summary Financial Information

  June 30, June 30,
  2010 2009
  (unaudited) (unaudited)
     
Revenue $641,420 $1,370,157
Cost of sales 355,705 708,450
  285,715 661,707
     
Expenses 472,943 612,120
     
Income before the following items (187,228) 49,587
     
Other income (expense): 6,983 16,181
     
Income / (loss) for the period $(180,245) $65,768

Non-GAAP Measure

For the three months ended June 30, 2010, we are disclosing Adjusted EBITDA, a non-GAAP financial measure, as a supplementary indicator of operating performance. We define Adjusted EBITDA as net income before, interest, income taxes, amortization, stock based compensation and currency gains or losses including derivative foreign exchange differences. We are presenting the non-GAAP financial measure in our filings because we use it internally to make strategic decisions, forecast future results and to evaluate our performance and because we believe that our current and potential investors and analysts use the measure to assess current and future operating results and to make investment decisions. It is a non-GAAP measure, may not be comparable to other companies and it is not intended as a substitute for GAAP measures.

Adjusted EBITDA reconciliation

  Three months ended
  June 30, 2010 June 30, 2009
     
Income / (loss) for the period $(180,245) $65,768
     
  Add / (deduct)    
  Foreign exchange gain (loss) 15,382 (40,477)
  Derivative exchange gain (7,883) 55,212
  Interest (516) 1,446
  Stock based compensation (10,423) (1,280)
  Amortization (7,825) (12,982)
  (11,265) 1,919
     
Adjusted EBITDA $(168,980) $63,849

About Vigil Health Solutions Inc.

Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding seniors’ housing market. Vigil has established a growing presence in North America and an international reputation for being on the leading edge of systems design and integration. The Vigil Integrated Care Management System™ (Vigil® System) includes the award-winning Vigil Dementia System, a nurse call system, bed monitoring, resident check in, and the latest development the Vigil Wireless call system. The first to supply dementia specific care technology, Vigil facilitates the highest standard of care for cognitive residents while helping dementia residents enjoy a higher quality of life and greater dignity.

Certain statements contained in this news release that are not based on historical facts may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). These forward-looking statements are not promises or guarantees of future performance but are only predictions that relate to future events, conditions or circumstances or our future results, performance, achievements or developments and are subject to substantial known and unknown risks, assumptions, uncertainties and other factors that could cause our actual results, performance, achievements or developments in our business or in our industry to differ materially from those expressed, anticipated or implied by such forward-looking statements.

Forward-looking statements include all financial guidance, disclosure regarding possible events, conditions, circumstances or results of operations that are based on assumptions about future economic conditions, courses of action and other future events. We caution you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. These forward-looking statements appear in a number of different places in this presentation and can be identified by words such as “may”, “estimates”, “projects”, “expects”, “intends”, “believes”, “plans”, “anticipates”, or their negatives or other comparable words. Forward-looking statements include statements regarding the outlook for our future operations, plans and timing for the introduction or enhancement of our services and products, statements concerning strategies or developments, statements about future market conditions, supply conditions, end customer demand conditions, channel inventory and sell through, revenue, gross margin, operating expenses, profits, forecasts of future costs and expenditures, the outcome of legal proceedings, and other expectations, intentions and plans that are not historical fact.

The risk factors and uncertainties that may affect our actual results, performance, achievements or developments are many and include, amongst others, our ability to develop our sales force and generate revenue, the length of the sales cycle, management of the Company’s growth, ability to recruit and retain staff, fluctuations in demand for current and future products, our ability to develop, manufacture, supply and market existing and new products that meet the needs of customers, volatility in the exchange rate, ability to secure financing, ability to secure product liability insurance, the continuous commitment of our customers, increased competition, changes in regulation and reliance on third party suppliers. These risk factors and others are discussed in the Risks and Uncertainties section of our “Management Discussion and Analysis” segment of our fiscal 2009 Annual Report. Many of these factors and uncertainties are beyond the control of the Company. Consequently, all forward-looking statements in this news release are qualified by this cautionary statement and there can be no assurance that actual results, performance, achievements or developments anticipated by the Company will be realized.

Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should the assumptions related to these plans, estimates, projections, beliefs and opinions change.

Filed Under: Healthcare Business

Vigil Health Solutions Reports Q1 Results, Sales Bookings Up 26%

Posted on August 9, 2010 Written by Editor

VICTORIA, BRITISH COLUMBIA–(Marketwire – Aug. 9, 2010) – Vigil Health Solutions Inc. (TSX VENTURE:VGL) (“Vigil”) announces the results of operations for the quarter ending June 30, 2010.

Business highlights

  • Grew bookings 26% for the quarter to $955 thousand compared to $755 thousand for the three-month period ended June 30, 2009.
  • Increased backlog 14% to approximately $3.1 million compared to approximately $2.72 million at June 30, 2009.
  • Revenue was $641 thousand for the three-months ended June 30, 2010 compared to $1.37 million in the three-month period ended June 30, 2009, a decrease of 53%. The decrease reflects lower bookings in FYE2010 and the timing in projects commissioned.
  • Expanded revenue from service and maintenance agreements and one-off sales by 72% during the quarter ended June 30, 2010 to $298 thousand.

“I am encouraged with our increased sales bookings which I believe is a positive indication of both the improvement in the economy, as well as our continued investment in sales and marketing,” stated Troy Griffiths, President and CEO of Vigil Health Solutions Inc.

Financial Results

Revenue for the three-months ended June 30, 2010 was $641 thousand compared to $1.37 million in the three-month period ended June 30, 2009, a decrease of 53%. The decrease in revenue reflects both the reduced number and size of the projects completed during the quarter. Because Vigil records revenue using the completed contract method the number of projects completed this quarter directly reflects a lag related to the timing of the US economic downturn.

Bookings for the quarter were $955 thousand up 26% compared to $755 thousand in the three-month period ended June 30, 2009. The increase in bookings relates to an improvement in the United States economy, specifically, in funding availability for new construction in the seniors living industry as well as the Company’s investment in it sales program.

At June 30, 2010, Vigil had a backlog of approximately $3.1 million (including $1.64 million in deposits and progress billings, recorded as deferred revenue on the balance sheet) a 14% increase compared to approximately $2.72 million (including $1.34 million in deposits and progress billings, recorded as deferred revenue on the balance sheet) at June 30, 2009. This increase is the result of booking more new projects than recorded as revenue during the quarter.

The gross margin percentage for the three months ended June 30, 2010 was 45% compared to 48% for the three months ended June 30, 2009. The gross margin during the period was with in management’s expectations of margins of between 42% and 47%.

Expenditures for the three months ended June 30, 2010 were $465 thousand down 22% from operating expenditures of $599 thousand for the same period ended June 30, 2009. The Company decreased expenditures in all areas. These decreases were the result of a combined strategic effort to focus resources where they would be best utilized.

Net loss for the three month period ended June 30, 2010 was $180 thousand, or $0.002 per share compared to a gain of $66 thousand, or $0.001 per share for the previous year. The increase in losses is primarily attributable to the lower in revenue in the period.

Detailed financial statements along with Management Discussion and Analysis have been filed with SEDAR and may be viewed on the Company web site (http://www.vigil.com/?Investors:Financial_Statements) or at (www.sedar.com).

Financial information will be mailed to entitled security holders on August 16, 2010. Or, upon notice to the Company, entitled security holders may request a copy of financials in advance.

Summary Financial Information

  June 30, June 30,
  2010 2009
  (unaudited) (unaudited)
     
Revenue $641,420 $1,370,157
Cost of sales 355,705 708,450
  285,715 661,707
     
Expenses 472,943 612,120
     
Income before the following items (187,228) 49,587
     
Other income (expense): 6,983 16,181
     
Income / (loss) for the period $(180,245) $65,768

Non-GAAP Measure

For the three months ended June 30, 2010, we are disclosing Adjusted EBITDA, a non-GAAP financial measure, as a supplementary indicator of operating performance. We define Adjusted EBITDA as net income before, interest, income taxes, amortization, stock based compensation and currency gains or losses including derivative foreign exchange differences. We are presenting the non-GAAP financial measure in our filings because we use it internally to make strategic decisions, forecast future results and to evaluate our performance and because we believe that our current and potential investors and analysts use the measure to assess current and future operating results and to make investment decisions. It is a non-GAAP measure, may not be comparable to other companies and it is not intended as a substitute for GAAP measures.

Adjusted EBITDA reconciliation

  Three months ended
  June 30, 2010 June 30, 2009
     
Income / (loss) for the period $(180,245) $65,768
     
  Add / (deduct)    
  Foreign exchange gain (loss) 15,382 (40,477)
  Derivative exchange gain (7,883) 55,212
  Interest (516) 1,446
  Stock based compensation (10,423) (1,280)
  Amortization (7,825) (12,982)
  (11,265) 1,919
     
Adjusted EBITDA $(168,980) $63,849

About Vigil Health Solutions Inc.

Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding seniors’ housing market. Vigil has established a growing presence in North America and an international reputation for being on the leading edge of systems design and integration. The Vigil Integrated Care Management System™ (Vigil® System) includes the award-winning Vigil Dementia System, a nurse call system, bed monitoring, resident check in, and the latest development the Vigil Wireless call system. The first to supply dementia specific care technology, Vigil facilitates the highest standard of care for cognitive residents while helping dementia residents enjoy a higher quality of life and greater dignity.

Certain statements contained in this news release that are not based on historical facts may constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). These forward-looking statements are not promises or guarantees of future performance but are only predictions that relate to future events, conditions or circumstances or our future results, performance, achievements or developments and are subject to substantial known and unknown risks, assumptions, uncertainties and other factors that could cause our actual results, performance, achievements or developments in our business or in our industry to differ materially from those expressed, anticipated or implied by such forward-looking statements.

Forward-looking statements include all financial guidance, disclosure regarding possible events, conditions, circumstances or results of operations that are based on assumptions about future economic conditions, courses of action and other future events. We caution you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. These forward-looking statements appear in a number of different places in this presentation and can be identified by words such as “may”, “estimates”, “projects”, “expects”, “intends”, “believes”, “plans”, “anticipates”, or their negatives or other comparable words. Forward-looking statements include statements regarding the outlook for our future operations, plans and timing for the introduction or enhancement of our services and products, statements concerning strategies or developments, statements about future market conditions, supply conditions, end customer demand conditions, channel inventory and sell through, revenue, gross margin, operating expenses, profits, forecasts of future costs and expenditures, the outcome of legal proceedings, and other expectations, intentions and plans that are not historical fact.

The risk factors and uncertainties that may affect our actual results, performance, achievements or developments are many and include, amongst others, our ability to develop our sales force and generate revenue, the length of the sales cycle, management of the Company’s growth, ability to recruit and retain staff, fluctuations in demand for current and future products, our ability to develop, manufacture, supply and market existing and new products that meet the needs of customers, volatility in the exchange rate, ability to secure financing, ability to secure product liability insurance, the continuous commitment of our customers, increased competition, changes in regulation and reliance on third party suppliers. These risk factors and others are discussed in the Risks and Uncertainties section of our “Management Discussion and Analysis” segment of our fiscal 2009 Annual Report. Many of these factors and uncertainties are beyond the control of the Company. Consequently, all forward-looking statements in this news release are qualified by this cautionary statement and there can be no assurance that actual results, performance, achievements or developments anticipated by the Company will be realized.

Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should the assumptions related to these plans, estimates, projections, beliefs and opinions change.

Filed Under: Healthcare Business

Electronic Control Security, Inc. Names Robert Oliver as Vice President, Operations

Posted on August 6, 2010 Written by Editor

SOURCE: Electronic Control Security, Inc.

CLIFTON, NJ–(Marketwire – August 6, 2010) –  Electronic Control Security, Inc. (OTCBB: EKCS) (ECSI) (www.ecsiinternational.com), a global leader in entry control and perimeter security systems, today announced the appointment of Robert Oliver as Vice President, Operations. 

Arthur Barchenko, President of ECSI, stated that “Robert will fill an important position in the Company to meet the growing demand for its products and services now and in the future. The position of Vice President, Operations will address product design and engineering, R&D, production scheduling, purchasing and inventory control in accordance with ISO 9001:2008.”

About Mr. Oliver
Robert Oliver brings decades of experience and innovation in engineering design and management to this position. He has successfully performed and managed the design, test, manufacturing, installation and maintenance of products and systems in avionics, nuclear power plant, power instruments, medical device, medical instruments, research instruments, surveillance and life safety for military, law enforcement, hospital, surgical, industrial, commercial and consumer markets domestically and internationally. He has functioned at all levels, including CEO. He has enjoyed successful deployment of security systems of his own design while working through AE firms such as Syska & Hennessey and Flack & Kurtz, among others, and for clients that include major banks and brokerage houses. He holds multiple patents in the US and elsewhere for industrial and security products and systems.”

About ECSI
ECSI is a global leader in perimeter security and a quality provider to the Department of Defense, Department of Energy, nuclear power stations, and other large commercial-industrial complexes. The Company designs, manufactures and markets physical electronic security systems for high profile, high threat environments utilizing risk assessment and analysis to determine and address the security needs of its customers. Teaming agreements with major system integrators enable ECSI to support the installation and aftermarket of its products in the U.S. and overseas. ECSI is located at 790 Bloomfield Avenue, Bldg. C-1, Clifton, NJ 07012. Tel: 973-574-8555; Fax: 973-574-8562. For more information on ECSI and its customers, please visit http://www.ecsiinternational.com.

ECSI INTERNATIONAL, INC. SAFE HARBOR STATEMENT: This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, acceptance of our proposals, sufficiency of working capital, receipt and timing of collections from purchase orders, the availability of working capital, changes in economic conditions generally and in our industry specifically, changes in security technology, legislative or regulatory changes that affect us, changes in costs and the availability of goods and services, the introduction of competing products, changes in our operating strategy or development plans, sufficiency of cash reserves and the risks and uncertainties discussed under the heading “RISK FACTORS” in Item 1 of our Annual Report on Form 10-K for the fiscal year ended June 30, 2009 and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.

FOR CONTACT:
Natalie Schneider
(973) 574-8555

Filed Under: Healthcare Business

Extendicare REIT Announces 2010 Second Quarter Results

Posted on August 5, 2010 Written by Editor

EXTENDICARE REIT
Condensed Consolidated Earnings

(thousands of Canadian dollars Three months ended Six months ended
except per unit amounts) June 30 June 30
----------------------------------------------------------------------------
2010 2009 2010 2009
----------------------------------------------------------------------------
Revenue
Nursing and assisted living centers
United States 337,596 371,990 673,719 769,099
Canada 122,959 118,860 241,543 233,244
Home health - Canada 38,362 38,819 77,891 74,823
Health technology services
- United States 4,139 4,794 8,285 10,245
Outpatient therapy - United States 3,758 3,505 6,694 7,236
Other 7,557 8,631 15,073 17,593
----------------------------------------------------------------------------
514,371 546,599 1,023,205 1,112,240
Operating expenses 424,567 452,589 853,863 931,659
Administrative costs 17,505 18,917 34,484 38,836
Lease costs 2,612 3,097 5,420 6,191
----------------------------------------------------------------------------
EBITDA (1) 69,687 71,996 129,438 135,554
Depreciation and amortization 15,785 16,350 31,479 33,709
Accretion of asset retirement
obligations 393 416 793 853
Interest expense 22,800 24,479 45,994 50,316
Interest income (2,074) (709) (3,002) (1,851)
Loss (gain) on derivative financial
instruments and foreign exchange 4,505 (12,424) 1,285 (7,474)
Loss from asset impairment,
disposals and other items 2,580 594 2,580 337
----------------------------------------------------------------------------
Earnings from continuing
operations before income taxes 25,698 43,290 50,309 59,664
----------------------------------------------------------------------------
Income tax expense (recovery)
Current 11,244 14,958 22,650 25,911
Future 476 (1,206) (1,475) 397
----------------------------------------------------------------------------
11,720 13,752 21,175 26,308
----------------------------------------------------------------------------
Earnings from continuing
operations 13,978 29,538 29,134 33,356
Discontinued operations (974) 706 (564) 545
----------------------------------------------------------------------------
Net earnings 13,004 30,244 28,570 33,901
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Basic and Diluted Earnings per Unit ($)
Earnings from continuing operations 0.17 0.40 0.36 0.45
Net earnings 0.16 0.41 0.36 0.46
----------------------------------------------------------------------------
(1) Refer to discussion of non-GAAP measures.
----------------------------------------------------------------------------
Certain 2009 figures have been revised for comparative purposes.


EXTENDICARE REIT
Condensed Consolidated Balance Sheets

(thousands of Canadian dollars, unless June 30 December 31
otherwise noted) 2010 2009
----------------------------------------------------------------------------
Assets
Current assets
Cash and short-term investments 252,542 134,012
Restricted cash 19,322 22,361
Accounts receivable, less allowances 211,563 213,477
Income taxes recoverable 8,500 29,314
Future income tax assets 24,338 24,900
Other current assets 25,017 22,187
----------------------------------------------------------------------------
541,282 446,251
Property and equipment, including construction-in
-progress of $50,880 and $41,956, respectively 865,132 863,430
Goodwill and other intangible assets 194,883 191,514
Other assets 152,536 166,870
----------------------------------------------------------------------------
1,753,833 1,668,065
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Liabilities and Equity
Current liabilities
Accounts payable 37,708 38,372
Accrued liabilities 232,674 245,260
Accrual for self-insured liabilities 11,505 11,321
Current portion of long-term debt 99,013 28,538
----------------------------------------------------------------------------
380,900 323,491
Accrual for self-insured liabilities 29,126 32,562
Long-term debt 1,157,975 1,205,494
Other long-term liabilities 68,173 67,555
Future income tax liabilities 75,799 79,866
----------------------------------------------------------------------------
1,711,973 1,708,968
Unitholders' equity (deficiency) 41,860 (40,903)
----------------------------------------------------------------------------
1,753,833 1,668,065
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Closing US/Cdn. dollar exchange rate 1.0646 1.0510
----------------------------------------------------------------------------


EXTENDICARE REIT
Condensed Consolidated Cash Flows

Three months ended Six months ended
(thousands of Canadian dollars) June 30 June 30
----------------------------------------------------------------------------
2010 2009 2010 2009
----------------------------------------------------------------------------
Operating Activities
Net earnings 13,004 30,244 28,570 33,901
Adjustments for:
Depreciation and amortization 15,785 16,782 31,479 34,665
Provision for self-insured
liabilities 3,942 4,988 9,433 10,313
Payments for self-insured
liabilities (8,536) (4,443) (11,659) (7,563)
Future income taxes (999) (1,204) (2,950) 391
Loss (gain) on derivative financial instruments
and foreign exchange 4,505 (12,424) 1,285 (7,474)
Loss from asset impairment,
disposals and other items 2,580 594 2,580 337
Loss (gain) from asset disposals,
impairment and other items from
discontinued operations 2,751 - 2,751 (1,426)
Other 2,596 2,866 5,229 6,205
----------------------------------------------------------------------------
35,628 37,403 66,718 69,349
----------------------------------------------------------------------------
Net change in operating assets and liabilities
Accounts receivable 10,475 9,320 2,148 24,903
Other current assets 513 608 (2,650) (6,002)
Accounts payable and
accrued liabilities (15,394) (4,555) (16,930) (12,064)
Income taxes 11,133 (8,345) 19,633 (4,843)
----------------------------------------------------------------------------
6,727 (2,972) 2,201 1,994
----------------------------------------------------------------------------
42,355 34,431 68,919 71,343
----------------------------------------------------------------------------
Investing Activities
Growth capital expenditures (6,901) (12,518) (18,517) (25,789)
Maintenance capital expenditures (5,173) (7,917) (9,759) (15,241)
Net proceeds from dispositions 5,482 - 5,482 9,995
Other assets (490) 384 (1,185) (1,710)
----------------------------------------------------------------------------
(7,082) (20,051) (23,979) (32,745)
----------------------------------------------------------------------------
Financing Activities
Issue of long-term debt 9,427 6,337 30,138 12,049
Repayment of long-term debt (6,957) (3,895) (20,365) (14,135)
Decrease (increase) in
restricted cash 3,039 (29,482) 3,039 (29,482)
Decrease in investments held
for self-insured liabilities 7,950 6,536 8,278 7,091
Purchase of securities for
cancellation - - - (6,189)
Distributions paid (15,968) (14,584) (31,086) (30,866)
Issue of units - - 82,212 -
Financing costs (476) (2,795) (740) (2,832)
Other (95) (330) (95) (1,860)
----------------------------------------------------------------------------
(3,080) (38,213) 71,381 (66,224)
----------------------------------------------------------------------------
Foreign exchange gain (loss) on cash
held in foreign currency 4,457 (1,704) 2,209 (851)
----------------------------------------------------------------------------
Increase (decrease) in cash
and cash equivalents 36,650 (25,537) 118,530 (28,477)
Cash and cash equivalents at
beginning of period 215,892 120,144 134,012 123,084
----------------------------------------------------------------------------
Cash and cash equivalents at
end of period 252,542 94,607 252,542 94,607
----------------------------------------------------------------------------
----------------------------------------------------------------------------


EXTENDICARE REIT
Financial and Operating Statistics


Three months ended Six months ended
June 30 June 30
----------------------------------------------------------------------------
(amounts in Canadian dollars, unless
otherwise noted) 2010 2009 2010 2009
----------------------------------------------------------------------------

Earnings from Continuing Operations (millions)
United States (US$) $11.8 $20.7 $22.9 $25.8
----------------------------------------------------------------------------
United States $12.1 $24.8 $23.6 $31.1
Canada 1.9 4.7 5.5 2.2
----------------------------------------------------------------------------
$14.0 $29.5 $29.1 $33.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Net Earnings (millions)
United States (US$) $10.8 $21.4 $22.3 $26.3
----------------------------------------------------------------------------
United States $11.2 $25.5 $23.1 $31.7
Canada 1.9 4.7 5.5 2.2
----------------------------------------------------------------------------
$13.1 $30.2 $28.6 $33.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
U.S. Skilled Nursing Center Statistics
Percent of Revenue by Payor Source (same-facility basis, excluding prior
period settlement adjustments)
Medicare (Parts A and B) 33.3% 34.1% 33.1% 34.4%
Managed Care 9.5 9.6 9.5 9.5
----------------------------------------------------------------------------
Skilled mix 42.8 43.7 42.6 43.9
Private/other 9.0 9.4 9.1 9.3
----------------------------------------------------------------------------
Quality mix 51.8 53.1 51.7 53.2
Medicaid 48.2 46.9 48.3 46.8
----------------------------------------------------------------------------
100.0 100.0 100.0 100.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Average Daily Census by Payor Source (same-facility basis)
Medicare 2,342 2,385 2,334 2,441
Managed Care 802 797 808 802
----------------------------------------------------------------------------
Skilled mix 3,144 3,182 3,142 3,243
Private/other 1,425 1,518 1,427 1,516
----------------------------------------------------------------------------
Quality mix 4,569 4,700 4,569 4,759
Medicaid 9,440 9,490 9,498 9,513
----------------------------------------------------------------------------
14,009 14,190 14,067 14,272
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Average Revenue per Resident Day by Payor Source (excluding prior period
settlement adjustments) (US$)
Medicare Part A only $ 457.74 $ 454.38 $ 457.40 $ 451.03
Medicare (Parts A and B) 499.77 497.31 499.87 492.07
Managed Care 415.60 417.72 412.75 415.12
Private/other 223.73 215.17 224.59 213.52
Medicaid 179.79 172.06 179.60 172.10
Weighted average 252.63 245.14 252.02 244.88
----------------------------------------------------------------------------
Average Occupancy (excluding managed centers) (same-facility basis)
U.S. skilled nursing centers 86.9% 88.3% 87.2% 88.8%
U.S. assisted living centers 78.3 82.6 78.3 82.6
Canadian centers 98.3 97.9 98.1 97.8
----------------------------------------------------------------------------
Average US/Cdn. dollar exchange rate 1.0277 1.1672 1.0338 1.2062
----------------------------------------------------------------------------


EXTENDICARE REIT
Supplemental Information - FFO and AFFO

The following table provides a reconciliation of EBITDA to Funds from
Operations (FFO), Distributable Income (DI) and Adjusted Funds from
Operations (AFFO) for the periods ended June 30, 2010 and 2009.(1)

Three months ended Six months ended
June 30 June 30
----------------------------------------------------------------------------
(thousands of Canadian dollars
unless otherwise noted) 2010 2009 2010 2009
----------------------------------------------------------------------------
EBITDA from continuing
operations 69,687 71,996 129,438 135,554
Depreciation for furniture, fixtures,
equipment and computers (5,580) (5,983) (11,033) (12,049)
Interest expense, net (20,726) (23,770) (42,992) (48,465)
----------------------------------------------------------------------------
43,381 42,243 75,413 75,040
Current income tax expense (2) (11,244) (15,448) (22,650) (26,911)
----------------------------------------------------------------------------
FFO (continuing operations) 32,137 26,795 52,763 48,129
Amortization of financing costs 2,184 2,841 4,353 5,365
Principal portion of government
capital funding payments 615 574 1,226 1,150
----------------------------------------------------------------------------
DI (continuing operations) 34,936 30,210 58,342 54,644
Additional maintenance capital
expenditures (3) 407 (1,934) 1,274 (3,192)
----------------------------------------------------------------------------
AFFO (continuing operations) 35,343 28,276 59,616 51,452
AFFO (discontinued operations)(4) 302 1,161 731 2,362
----------------------------------------------------------------------------
AFFO 35,645 29,437 60,347 53,814
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Per Basic Unit ($)
FFO (continuing operations) 0.393 0.367 0.658 0.660
AFFO (continuing operations) 0.431 0.388 0.743 0.706
AFFO 0.435 0.404 0.752 0.738
----------------------------------------------------------------------------
Per Diluted Unit ($)
FFO (continuing operations) 0.365 0.340 0.620 0.618
AFFO (continuing operations) 0.390 0.349 0.676 0.639
AFFO 0.393 0.362 0.684 0.666
----------------------------------------------------------------------------
Distributions declared 17,346 15,317 34,019 30,602
Distributions declared per unit ($) 0.2100 0.2100 0.4200 0.4200
----------------------------------------------------------------------------
Basic weighted average number of
units (thousands) 82,576 72,914 80,221 72,913
Diluted weighted average number
of units (thousands) 96,389 86,727 94,034 86,733
----------------------------------------------------------------------------

1. "EBITDA", "funds from operations", "distributable income" and "adjusted
funds from operations" are not recognized measures under GAAP and do not
have a standardized meaning prescribed by GAAP. Refer to the discussion
of non-GAAP measures.
2. Excludes current tax with respect to the loss (gain) from derivative
financial instruments, foreign exchange, asset impairment, disposals and
other items that are excluded from the computation of AFFO.
3. Represents total facility maintenance capital expenditures less
depreciation for furniture, fixtures, equipment and computers already
deducted in determining DI.
4. The impact of discontinued operations reduces FFO, DI and AFFO by the
same amount.
----------------------------------------------------------------------------

Reconciliation of Cash Provided by Three months ended Six months ended
Operating Activities to DI & AFFO June 30 June 30
----------------------------------------------------------------------------
(thousands of Canadian dollars) 2010 2009 2010 2009
----------------------------------------------------------------------------
Cash provided by operating
activities 42,355 34,431 68,919 71,343
Add (Deduct):
Net change in operating assets
and liabilities (6,727) 2,972 (2,201) (1,994)
Current tax expense on gain or loss
from derivative financial instruments,
foreign exchange, asset impairment,
disposals and other items (12) (490) (12) 1,250
Net provisions and payments for
self-insured liabilities 4,594 (545) 2,226 (2,750)
Depreciation for furniture, fixtures,
equipment and computers (5,580) (5,983) (11,033) (12,049)
Principal portion of government
capital funding payments 615 574 1,226 1,150
Other (7) 412 (52) 56
----------------------------------------------------------------------------
DI 35,238 31,371 59,073 57,006
Additional maintenance capital
expenditures 407 (1,934) 1,274 (3,192)
----------------------------------------------------------------------------
AFFO 35,645 29,437 60,347 53,814
----------------------------------------------------------------------------
----------------------------------------------------------------------------

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Filed Under: Healthcare Business, Senior Care

Hansen Medical Reports 2010 Second Quarter Results

Posted on August 4, 2010 Written by Editor

SOURCE: Hansen Medical

MOUNTAIN VIEW, CA–(Marketwire – August 4, 2010) – Hansen Medical, Inc. (NASDAQ: HNSN), a global leader in flexible medical robotics and the developer of robotic technology for accurate 3D control of catheter movement, today reported its recent business highlights and financial results for the second quarter ended June 30, 2010.

Recent Business Highlights

  • System Sales: The company recognized revenue on seven Sensei® Robotic Catheter Systems and shipped three systems during the second quarter. Second quarter revenue consisted of one system that was shipped in the quarter and six systems from deferred revenue that had been shipped in prior quarters. From commercial launch in 2007 through June 30, 2010, the company has shipped a cumulative total of 91 Sensei systems worldwide and recognized revenue on a total of 77 systems.
  • Catheter Sales: The company recognized revenue on 555 Artisan™ Control Catheters shipped during the second quarter.
  • Procedures: Electrophysiology procedures performed with Hansen Sensei systems increased over 50% in the first half of 2010 as compared to such procedures performed in the first half of 2009.
  • Vascular Platform: The company announced the successful completion of a pre-clinical in-vivo study evaluating its new vascular robot, which demonstrated improvements in catheter navigation, reduction in vessel trauma during catheter manipulation, and improvements in access time for some vessels, as compared to manual catheter manipulation during endovascular procedures. Results also showed that the company’s vascular robot has the potential to standardize catheter navigation, which may lead to more predictable procedures. The early, but encouraging results were presented June 12, 2010 at the Society of Vascular Surgery’s 2010 Vascular Annual Meeting in Boston.
  • Electrophysiology: The company announced a joint development and cooperation agreement with Siemens Healthcare to co-develop integrated products designed to help simplify complex cardiac procedures for the diagnosis and treatment of cardiac arrhythmias, or irregular heartbeats. The agreements will enable the creation of integrated product solutions by combining Siemens’ Artis zee® family of angiography systems and the syngo® DynaCT Cardiac (angiographic computed tomography) with Hansen Medical’s Sensei® X Robotic Catheter System. The integrated products are being designed to enable electrophysiologists to perform complex cardiac procedures with greater confidence and improved efficiency.
  • Clinical Trial Update: During the second quarter, enrollment began in the company’s conditional IDE clinical trial evaluating use of the Sensei® Robotic Catheter System and the Artisan™ Control Catheter in patients with Atrial Fibrillation (AF).
  • On June 9, 2010 veteran medical device industry executive Bruce J Barclay joined the company as president and chief executive officer, and a member of the Board of Directors. In addition, Frederic H. Moll, M.D. became executive chairman of the Board and Russell C. Hirsch, M.D., Ph.D., transitioned from his former role as chairman of the Board to lead outside director.

“The company is making important progress on several fronts that include key initiatives in growing our EP business, developing and commercializing our vascular platform and improving our operating efficiency,” said Bruce Barclay, president and chief executive officer of Hansen Medical. “During the second quarter, we commenced a previously announced conditional IDE clinical trial using our Sensei Robotic Catheter System for the treatment of patients with AF and results from a recently completed pre-clinical in-vivo study evaluating our new vascular robot validate the important progress of our vascular platform in addressing significant new markets for the company. Finally, while the company successfully raised $29.8 million of capital early in the second quarter, we are continuing to take a hard look at operating expenses while maintaining our focus on our strategic key initiatives.”

2010 Second Quarter Financial Results

Total revenue for the three months ended June 30, 2010 was $7.0 million compared to revenue of $2.9 million in the same period in 2009. During the second quarter, the company recognized revenue on seven Sensei Robotic Systems as well as on shipments of 555 Artisan control catheters. During the quarter the company shipped a total of three systems; one of which was recognized as revenue and two of which will be recognized as revenue as they are installed and physicians are trained, which the company expects will occur during 2010. In addition, six systems from deferred revenue that had been shipped in prior quarters were recognized as revenue in the second quarter of 2010. As of June 30, 2010 the company had a total deferred revenue balance of $10.3 million. The company has shipped 14 Sensei systems that have not been recognized as revenue.

Cost of goods sold for the three months ended June 30, 2010 was $4.5 million and included non-cash stock compensation expense of $156,000. As a result, gross profit for the quarter was $2.5 million and gross margin was 35.7%. This compares to gross profit of $0.3 million and gross margin of 9.7% for the same period in 2009, which included non-cash stock compensation expense of $214,000. Looking ahead for the remainder of 2010, the company expects that cost of goods sold, both as a percentage of revenue and on a dollar basis, will continue to vary from quarter to quarter as manufacturing levels fluctuate and as revenues fluctuate due to changes in system and catheter sales volumes, the timing of revenue recognition on shipped systems, product mix and average sales prices per system and per catheter.

Research and development expenses for the three months ended June 30, 2010, including non-cash stock compensation expense of $372,000, were $6.1 million, compared to $5.0 million for the same period in 2009, which included non-cash stock compensation expense of $688,000. The increase in research and development expenses was primarily the result of development of the company’s vascular system platform. During the remainder of 2010, the company expects research and development expenses to increase from 2009 levels principally due to the on-going vascular system platform development, the atrial fibrillation clinical trial sponsored by the company and engineering activities to support the fiber optic shape sensing and localization technology under our Luna Innovations development agreement.

Selling, general and administrative expenses for the three months ended June 30, 2010, including non-cash stock compensation expense of $504,000, were $7.2 million, compared to $9.9 million for the same period in 2009, which included non-cash stock compensation expense of $1.0 million. The decrease in selling, general and administrative expenses was primarily due to decreased employee-related expenses, related primarily to lower average headcount and a decrease in non-cash stock compensation expense. During the remainder of 2010, the company expects selling, general and administrative expenses to decline from 2009 levels primarily as a result of a decrease in legal and restatement-related expenses.

Other expense, net, for the three months ended June 30, 2010 was $131,000, compared to other expense, net, of $115,000 for the same period in 2009.

Net loss for the three months ended June 30, 2010, including total non-cash stock compensation expense of $1.0 million, was $10.9 million, or $(0.22) per basic and diluted share, based on average basic and diluted shares outstanding of 50.1 million shares. Net loss for the second quarter of 2009, including non-cash stock compensation expense of $1.9 million, was $14.7 million, or $(0.42) per basic and diluted share, based on average basic and diluted shares outstanding of 35.2 million shares.

Cash, cash equivalents and short-term investments as of June 30, 2010 were $44.2 million, compared to $28.3 million as of December 31, 2009. The higher cash, cash equivalents and short-term investments balance is primarily due to the successful completion of a secondary public offering of common stock in the second quarter of 2010, which included the sale of approximately 16.1 million shares with net proceeds to the company, after expenses, of approximately $29.8 million.

Hansen Medical Conference Call

Company management will hold a conference call to discuss its 2010 second quarter results today, August 4, 2010, at 2:00 p.m. Pacific (5:00 p.m. Eastern). Investors are invited to listen to the call live via the Internet using the link available within the “Investor Relations” section of Hansen Medical’s website at www.hansenmedical.com. A replay of the webcast will be available approximately one hour after the completion of the live call. Additionally, participants can dial into the live conference call by calling 888-549-7750 or 480-629-9867. An audio replay will be available approximately one hour after the completion of the conference call through August 11, 2010, by calling 800-406-7325 or 303-590-3030, and entering access code 4333050.

About Hansen Medical, Inc.

Hansen Medical, Inc., based in Mountain View, California, develops products and technology using robotics for the accurate positioning, manipulation and control of catheters and catheter-based technologies. The company’s robotic navigation system enables clinicians to place mapping catheters in hard-to-reach anatomical locations within the heart easily, accurately and with stability during complex cardiac arrhythmia procedures. Hansen Medical’s Sensei® system and its Sensei X Robotic Catheter System are compatible with fluoroscopy, ultrasound, 3D surface map and patient electrocardiogram data. The remote navigation platform was cleared by the U.S. Food and Drug Administration for manipulation and control of certain mapping catheters in Electrophysiology (EP) procedures. The safety and effectiveness of the Sensei and Sensei X systems for use with cardiac ablation catheters in the treatment of cardiac arrhythmias, including atrial fibrillation (AF), have not been established. In the European Union, the Sensei and the Sensei X systems are cleared for use during EP procedures, such as guiding catheters in the treatment of AF. Additional information can be found at www.hansenmedical.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Hansen’s results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “plan,” “expects,” “believes,” “goal,” “estimate,” “enable” and similar words. Hansen intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in such statements due to various factors, including but not limited to: the effect of credit, financial and general economic conditions on capital spending by our potential customers; risks and uncertainties inherent in our business, including potential safety and regulatory issues that could delay, slow or suspend our clinical trial or our sale efforts, uncertain timelines, costs and results of clinical trials and of developing new products, our ability to effectively sell, service and support our products, the rate of adoption of our systems and the rate of use of our catheters at customers that have purchased our systems, our ability to plan and manage cost-reduction or operational efficiency initiatives, the scope and validity of intellectual property rights applicable to our products and competition from other companies; additional costs and resources necessary to address existing shareholder litigation regarding the restatement of our financial statements; potential claims and proceedings relating to our restatement, such as additional shareholder litigation and any action by the SEC, U.S. Attorney’s Office or other governmental agency which could result in civil or criminal sanctions against the company and/or current or former officers, directors or employees; our ability to remediate material weaknesses in internal controls over financial reporting; and other risks more fully described in the “Risk Factors” section contained in Hansen’s periodic SEC filings, including its Quarterly Report on Form 10-Q filed with the SEC on May 10, 2010.

“Sensei,” “Artisan,” and “CoHesion” are trademarks of Hansen Medical, Inc., and “Hansen Medical,” “Hansen Medical and Heart Logo,” and “Hansen Medical Heart Logo” are registered trademarks of Hansen Medical, Inc. in the United States and other countries. Artis zee and syngo are registered trademarks of Siemens AG.

Condensed Consolidated Statements of Operations (unaudited)
(in thousands, except per share data)

    Three months ended June 30,     Six months ended June 30,  
    2010     2009     2010     2009  
Revenues $ 6,950     $ 2,949     $ 9,661     $ 10,404  
Cost of goods sold   4,472       2,664       8,042       8,045  
Gross profit   2,478       285       1,619       2,359  
Operating expenses:                              
  Research and development   6,073       4,951       10,840       10,602  
  Selling, general and administrative   7,189       9,904       14,920       20,015  
  Gain on settlement of litigation   —       —       (10,003 )     —  
Total operating expenses   13,262       14,855       15,757       30,617  
Loss from operations   (10,784 )     (14,570 )     (14,138 )     (28,258 )
Other income, net   (131 )     (115 )     (623 )     (560 )
Net loss $ (10,915 )   $ (14,685 )   $ (14,761 )   $ (28,818 )
Basic and diluted net loss per share $ (0.22 )   $ (0.42 )   $ (0.34 )   $ (0.95 )
Shares used to compute basic and diluted net loss per share   50,136       35,187       43,873       30,293  

Condensed Consolidated Balance Sheets (unaudited)
(in thousands)

  June 30, 2010   December 31, 2009
Assets
  Cash, cash equivalents and short-term investments $ 44,190   $ 28,279
  Accounts receivable   4,438     6,888
  Inventories, net   6,284     7,406
  Deferred cost of goods sold   2,625     2,535
  Prepaids and other current assets   1,945     1,929
  Property and equipment, net   11,787     13,460
  Note receivable   4,556     —
  Other assets   400     244
             
Total assets $ 76,225   $ 60,741
           
Liabilities and Stockholders’ Equity
Liabilities          
  Accounts payable $ 2,251   $ 2,068
  Deferred revenues   10,273     9,463
  Debt   8,021     9,803
  Other liabilities   6,298     5,654
           
Total liabilities   26,843     26,988
           
Stockholders’ equity   49,382     33,753
           
Total Liabilities and Stockholders’ Equity $ 76,225   $ 60,741
           

Filed Under: Healthcare Business

Renato Corporation Merges With a Major Medical Group, Announces New Board of Directors and Company Business Plan

Posted on August 4, 2010 Written by Editor

SOURCE: Renato Corporation

MIAMI, FL–(Marketwire – August 4, 2010) –  Renato Corporation (FRANKFURT: 4OZ) is pleased to announce the merger with a major pharmaceutical group in California and Texas as well as 8 medical clinics in California and Arizona. Due diligence has just completed and we look forward to the closing of the merger within the next 14 days.

Healthcare in the United States is undergoing a profound change, driven by both legislation and cost. The new healthcare legislation, the excessive cost of American Health Care, and an estimated 35 million more people under the healthcare will drive the growth of medical clinic groups.

The 8 medical clinics have a combined revenue of $10.5 million dollars.

This group operates 20 natural pharmacies in southern California and Texas and has annual revenues in excess of $8 million, targeted primarily at the Hispanic market, the fastest growing segment of the US population, with vitamins, nutraceuticals and wellness products, the fast growing category of consumer consumption.

The merger of the health clinics with the natural pharmacies is an ideal mix that is designed to enhance the bottom line of both operations with a blend of Hispanic and Non Hispanic clientele.

The established revenues of the properties plus the expected growth of the merged entity will ensure the success of Renato Corporation. The company is in serious discussion with a further 8 groups comprising 27 clinics with revenue in 2010 of approximately $65 million and EBITDA of $14.5 million.

The incoming board comprises Bob Pritchard as Chairman as well as Marketing Director with Dwight Staffelback, BA, MS Public Administration, who will take on the position as CEO, and John Falting is taking up position as Company Secretary for the group.

As of August 2, 2010, the new Board of Directors of Renato Corporation is re-structuring the company’s corporate business plan and is evaluating all existing negotiations and agreements.

www.renatocorp.com, www.renatocorp.de

About Renato Corporation

At Renato Corporation it is the company’s objective to provide diverse early detection diagnostic technologies utilizing its current experience, reputation and expertise within the international health care industry. Introducing and making available these non-invasive technologies through private health care firms and health and wellness centres in an affordable manner is our immediate focus.

The company’s mission is to carefully select where these advanced diagnostic technologies will be placed to ensure unparalleled delivery of customer service and satisfaction in the field of non-invasive early detection disease diagnosis and management.

Innovative information technology platforms are enabling new models for more efficient, effective and safer healthcare delivery. It is inevitable that the economic strain on today’s health care systems worldwide will realize the ever increasing need for early detection diagnostic devices and services.

Disclaimer & Safe Harbor Statement:
This release includes forward looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains certain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Contact:
Dave Reynolds
Investor Relations
Renato Corporation
305-438-6927
Email: [email protected]

Filed Under: Healthcare Business

Nationwide Health Properties, Inc. Increases Its Quarterly Common Dividend by $0.01 and Declares Quarterly Cash Dividend on Common Stock

Posted on August 3, 2010 Written by Editor

SOURCE: Nationwide Health Properties, Inc.

NEWPORT BEACH, CA–(Marketwire – August 3, 2010) –  Nationwide Health Properties, Inc. (NYSE: NHP) announced today that its Board of Directors declared a quarterly common stock cash dividend of $0.46 per share, a $0.01 increase from the prior quarterly dividend of $0.45 per share. The dividend will be paid on September 3, 2010 to stockholders of record on August 20, 2010.

Nationwide Health Properties, Inc. is a real estate investment trust (REIT) that invests primarily in healthcare real estate in the United States. As of June 30, 2010, the Company’s portfolio of properties, including mortgage loans and properties owned by unconsolidated joint ventures, totaled 628 properties among the following segments: 283 senior housing facilities, 206 skilled nursing facilities, 120 medical office buildings, 11 continuing care retirement communities, 7 specialty hospitals and 1 asset held for sale. For more information on Nationwide Health Properties, Inc., visit our website at http://www.nhp-reit.com.

CONTACT:
Abdo H. Khoury
Chief Financial and Portfolio Officer
Nationwide Health Properties, Inc.
(949) 718-4400

Filed Under: Healthcare Business

United Treatment Centers Letter to Shareholders

Posted on August 3, 2010 Written by Editor

SOURCE: United Treatment Centers, Inc.

NEW YORK, NY–(Marketwire – August 3, 2010) –  United Treatment Centers, Inc. (PINKSHEETS: UTRM)

Dear Fellow shareholders:

It has been three months since the company has issued a press release and we, UTRM management, wanted to inform investors on the progress of the company’s business plan.

The company was notified that Glaxo Smithkline had filed a trademark infringement lawsuit which precluded the advisability of shipping any product with the contested name. There was no way of knowing how long the legal process would be, and weeks became months. The company is diligently working to resolve the issue with Glaxo and will inform investors on any progress immediately. “We feel this lawsuit has only delayed the company’s ability to ship product and will ultimately be finalized,” said Todd Spinelli Vice President of Business Development. He added, “This proprietary product brings sanitary brushing, convenience and the first ever waterless toothbrush to the forefront of a 47 Billion Dollar global industry.”

The company continues to pursue contracts and business relationships in anticipation of the resolution of the lawsuit. The company has ordered product parts without the “Aquafree” name to fulfill any new orders and will announce any shipments. UTRM management does not feel that the success of the Waterless Toothbrush is dependent upon the “Aquafree” name and is anxious to move forward in following up with promising initiatives with a number of government agencies and international distributors.

UTRM has discovered, and is targeting, a very promising sector for the Waterless Toothbrush in the United States — municipalities in states that face severe challenges with water conservation initiatives.

Significantly for the long term future of UTRM, the company has been approached by well-known retail merchants but it has been determined that it would be advisable that the company “grow” into accepting these larger orders from these large potential customers. Financing larger orders too early in the company’s financial history can be limiting and restrict our flexibility, but we anticipate closing on these larger accounts in the next six to twelve months.

UTRM management is confident that our business plan is solid and the company will continue to sign contracts with significant marketing partners within the next few weeks. We apologize for the inadvertent delays in executing our business plan, but we are excited by the future of the company and our groundbreaking product. We already know there is a great deal of interest by green technology firms, governmental and non-governmental organizations (NGO’s) and international distributors.

As shareholders too, we understand your frustration with recent delays, but we thank all shareholders for their patience and support. You can visit us at www.thewaterlesstoothbrush.com

Sincerely,
UTRM Management

To be included in the company’s database for company updates, press releases and industry developments, investors and shareholders should send their e-mails to [email protected].

About United Treatment Centers, Inc.
UTRM is a dental health and green technology company which developed and is now marketing a revolutionary new, patented and patent pending oral care product which will change the way people perform their daily dental hygiene task-brushing teeth. UTRM will oversee out-sourced production of a patent pending consumer product focused on the $4.8 billion United States oral care market segment comprised of toothbrushes and toothpaste. The Waterless Tooth Brush is unique with significant advantages over existing and traditional toothbrushes: it cleans and prevents cavities 35% better than traditional brushing because it uses liquid dentifrice (Journal of American Dental Association [JADA:135(7): pp.1023-1029]), so toothpaste is no longer required to brush, allowing the user to brush virtually anywhere at any time with no water required. The company’s corporate website is http://www.unitedtreatmentcenters.com/.

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances changes in economic, business, competitive, technological and/or regulatory factors.

Safe Harbor

Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words “anticipate,” “estimate,” “expect,” “intend,” “plans,” “projects,” and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

Contact:
Investor Relations for United Treatment Centers, Inc.
718-777-0752

Filed Under: Healthcare Business

Bay Area Mental Health Agencies to Merge; Pyramid Alternatives of Pacifica and Sitike Counseling Center of South San Francisco

Posted on August 3, 2010 Written by Editor

SOURCE: Pyramid Alternatives of Pacifica; Sitike Counseling Center of South San Francisco

SOUTH SAN FRANCISCO, CA–(Marketwire – August 3, 2010) –  Two leading non-profit providers of mental health and addiction recovery counseling services are merging their organizations to provide better care and more comprehensive, holistic counseling to those in need, it was announced today.

Pyramid Alternatives of Pacifica, which provides counseling on mental health, substance abuse, domestic violence, and trauma services, will merge with Sitike Counseling Center of South San Francisco, a provider of addiction recovery services. The merged organizations will continue to be housed in their respective locations in Pacifica, South San Francisco, San Bruno and Half Moon Bay.

Rhonda Ceccato, executive director of Sitike Counseling Center, believes that by combining the two organizations, those in need will get more comprehensive, holistic counseling. “Two years ago, Janeen Smith and I began talking about our mutual concerns for the future,” she said. “The economic climate and the challenges of serving a more diverse and complex population, together with the need to attract and retain qualified staff, drove us to seriously consider a merger.”

Janeen Smith, executive director of Pyramid Alternatives, explained that the merger will result in better care for the organization’s clients. “Our new organization will be an important safety net for the San Mateo community, providing valuable services to an especially vulnerable population in this economy,” said Smith.

Ceccato and Smith both believe that the increasing emphasis on co-occurring or complex disorders as well as the desire among funders for larger, more comprehensive providers makes the merger a logical progression. An added benefit for staff will be the opportunity for quality training and career advancement. No layoffs are planned at this time, said Ceccato and Smith.

When the merger is completed, Rhonda Ceccato will serve as Executive Director and Janeen Smith will be Deputy Director. The respective Boards of both organizations will be combined to form a single Board of Directors.

Pyramid Alternatives has been serving clients in San Mateo County since 1973 and Sitike Counseling Center first opened its doors in 1988. The newly merged group will announce its new name by December 2010.

Rhonda Ceccato has more than 30 years of experience in the San Francisco Bay Area’s non-profit sector. Substance abuse treatment is both her passion and her area of expertise. Since 1993, Rhonda has served as Executive Director of Sitike Counseling Center, a community-based treatment center that provides a variety of recovery services for adult men and women. In 1995 Rhonda co-founded the San Mateo County Alcohol and Drug Providers’ Coalition, which recently merged with the San Mateo County Mental Health Contractors to form the Behavioral Health & Recovery Contractors Association. Prior to beginning her tenure at Sitike, Rhonda was Executive Director for the San Francisco Chapter of the National Council on Alcoholism and Drug Dependence and from 1977 to 1992 Rhonda worked in various capacities, including Interim Executive Director for the Women’s Alcoholism Center in San Francisco. She played a key role in planning and designing the Bay Area’s first intensive outpatient and residential programs for pregnant and parenting women, Lee Woodward Counseling Center and Pomeroy House. Rhonda Ceccato was elected in 2002 to the San Mateo County Board of Education and serves as a Trustee for South San Francisco Unified School District. Rhonda also lends her expertise as an active participant in other community organizations and currently serves as a consultant to the Nurse Diversion Evaluation Board for the State of California Board of Registered Nursing.

Janeen Smith is a Licensed Marriage and Family Therapist (MFT) with 20 years of experience in the field of mental health, substance abuse and violence prevention. She began her career in residential treatment at Bay Area Youth Centers in Hayward, California, in 1991. In 1995, she began work as a Case Manager for Edgewood Children’s Center in San Francisco after which she joined the Counseling Clinic at San Francisco State University. In 1997, she interned at Rape Trauma Services in Burlingame and began work at Pyramid Alternatives and has been there ever since. While at Pyramid, Janeen began as a staff counselor, was promoted from Outpatient Coordinator to Alternatives to Violence Manager and when licensed, became a clinical supervisor. In 2006, she was promoted to Deputy Director, and finally took over as Executive Director in 2007. Janeen’s passion is in partnerships and collaboration to improve services to the community. She is a co-founder of the North County Outreach Collaborative, (NCOC), and a co-founder of the Bayshore Community Prevention Project. Janeen is a member of the Co-Occurring Steering Committee of San Mateo County, the Daly City Partnership and Pacifica Collaborative. Janeen received a Masters of Counseling degree from San Francisco State University and her Bachelor of Science degree from San Diego State University.

Sitike Counseling Center
306 Spruce Avenue
South San Francisco, CA 94080
650-589-9305
www.sitike.org

Pyramid Alternatives
480 Manor Plaza
Pacifica CA 94044
650-355-8787
www.pyramidalternatives.org

Contacts:
Rhonda Ceccato
650-589-9305

Janeen Smith
650-355-8787

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Filed Under: Healthcare Business

Allied Healthcare International Inc. Reports Fiscal 2010 Third Quarter Results

Posted on August 3, 2010 Written by Editor

SOURCE: Allied Healthcare International Inc.

Revenues Increased 7.9%, at Constant Exchange Rates; Operating Income Increased 15.8%, at Constant Exchange Rates & Excluding Acquisition Costs

NEW YORK, NY–(Marketwire – August 3, 2010) – Allied Healthcare International Inc. (NASDAQ: AHCI) (AIM: AHI), a leading provider of flexible healthcare staffing
services in the United Kingdom, today issued financial results for its
fiscal 2010 third quarter ended June 30, 2010.

To provide investors with a better understanding of the Company’s
performance and because of fluctuations in foreign exchange rates, Allied
is discussing its revenue, gross profit, selling, general & administrative
(SG&A) expenses and operating income at constant exchange rates, which are
calculated using the comparable prior period weighted average exchange
rates. In addition, as the Company’s revenue and gross profit are
generated in the United Kingdom, an analysis, which is contained in the
Historical Revenue and Gross Profit table at the end of this press release,
is included of the last eleven quarters’ revenue and gross profit in pounds
sterling to enable investors to fully understand the underlying trends over
these periods without the effects of currency exchange rates.


Fiscal Third Quarter Results

                                    Three Months Ended
                                         June 30,
                                 ------------------------
                                                      %
                                   2010      2009   Change
                                 --------  -------- -----
                                         Revenue
                                 ------------------------

Homecare                         $ 59,270  $ 52,801  12.3%
Nursing Homes                       4,237     5,774 -26.6%
Hospitals                           4,551     4,528   0.5%
                                 --------  -------- -----
Total, at constant exchange
 rates                             68,058    63,103   7.9%
Effect of foreign exchange         (2,310)        -  -3.7%
                                 --------  -------- -----
Total, as reported               $ 65,748  $ 63,103   4.2%
                                 ========  ======== =====


                                        Three Months Ended June 30,
                                 -----------------------------------------
                                                                       %
                                   2010       %       2009     %     Change
                                 --------  -------  -------- ------  -----
                                               Gross Profit
                                 -----------------------------------------

Homecare                         $ 18,023     30.4% $ 16,272   30.8%  10.8%
Nursing Homes                       1,368     32.3%    1,843   31.9% -25.8%
Hospitals                           1,078     23.7%    1,058   23.4%   2.0%
                                 --------           --------         -----
Total, at constant exchange
 rates                             20,469     30.1%   19,173   30.4%   6.8%
Effect of foreign exchange           (701)                 -          -3.7%
                                 --------           --------         -----
Total, as reported               $ 19,768           $ 19,173           3.1%
                                 --------           --------         -----


                                                    SG&A
                                 -----------------------------------------
SG&A, at constant exchange rates
 & excluding acquisition costs   $ 17,114           $ 16,276           5.1%
Acquisition costs, at constant
 exchange rates                       595                  -           3.7%
                                 --------           --------         -----
SG&A, at constant exchange rates   17,709             16,276           8.8%
Effect of foreign exchange           (533)                 -          -3.3%
                                 --------           --------         -----
Total SG&A, as reported          $ 17,176           $ 16,276           5.5%
                                 --------           --------         -----


                                              Operating Income
                                 -----------------------------------------
Operating Income, at constant
 exchange rates & excluding
 acquisition costs               $  3,355           $  2,897          15.8%
Acquisition costs, at constant
 exchange rates                      (595)                 -         -20.5%
                                 --------           --------         -----
Operating Income, at constant
 exchange rates                     2,760              2,897          -4.7%
Effect of foreign exchange           (168)                 -          -5.8%
                                 --------           --------         -----
Operating Income, as reported    $  2,592           $  2,897         -10.5%
                                 ========           ========         =====


                                     Net income attributable to Allied
                                 -----------------------------------------
                                      Basic and            Basic and
                                     Diluted EPS          Diluted EPS
                                 -----------------------------------------
Net income attributable to
 Allied, excluding acquisition
 costs                           $ 2,270     $  0.05    $ 2,388    $  0.05
Acquisition costs                   (610)   -$  0.01          -          -
                                 -------     -------    -------    -------
Net income attributable to
 Allied                          $ 1,660     $  0.04    $ 2,388    $  0.05
                                 =======     =======    =======    =======

For the third quarter of fiscal 2010, total revenue increased 7.9%, to
$68.0 million, compared with $63.1 million reported during the same period
in fiscal 2009. Allied’s Homecare revenue grew 12.3% to $59.3 million. The
acquisition completed in this quarter contributed 4.0%, or $2.1 million, to
the increase in Homecare revenues. Nursing Homes revenue declined 26.6% to
$4.2 million and Hospitals revenue increased 0.5% to $4.5 million. After
the unfavorable impact of currency exchange of $2.3 million, revenue
increased 4.2% year over year to the reported $65.7 million.

Total gross profit for the third fiscal quarter increased 6.8% to $20.5
million, from $19.2 million for the comparable quarter in fiscal 2009.
Gross profit as a percentage of revenue was 30.1%, compared with 30.4% for
the comparable prior-year period. Foreign exchange decreased gross profit
by $0.7 million to the reported $19.8 million for the 2010 third fiscal
quarter.

SG&A, excluding acquisition costs, for the third fiscal quarter was $17.1
million (25.1% of revenues), an increase of 5.1%, from $16.3 million (25.8%
of revenues) reported last year. The Company also incurred acquisition
costs of $0.6 million. Foreign exchange decreased costs by $0.5 million to
the reported $17.2 million for the 2010 third fiscal quarter.

Operating income, before acquisition costs, for the third quarter of fiscal
2010 increased by 15.8% to $3.4 million from $2.9 million a year ago.
Acquisition costs decreased operating income by $0.6 million. Foreign
exchange decreased operating income by $0.2 million to the reported $2.6
million for the 2010 third fiscal quarter.

Income attributable to Allied, excluding acquisition costs, for the third
quarter of fiscal 2010 was $2.3 million, or $0.05 per diluted share. Net
income attributable to Allied for the third quarter of fiscal 2010 was $1.7
million, or $0.04 per diluted share, compared with $2.4 million, $0.05 per
diluted share, reported during the 2009 third fiscal quarter.


Fiscal Nine Months Results

                                 Nine Months Ended June 30,
                                 --------------------------
                                                       %
                                   2010      2009    Change
                                 --------- --------- ------
                                          Revenue
                                 --------------------------

Homecare                         $ 167,474 $ 145,497  15.1%
Nursing Homes                       13,471    19,295 -30.2%
Hospitals                           14,451    15,173  -4.8%
                                 --------- --------- ------
Total, at constant exchange
 rates                             195,396   179,965   8.6%
Effect of foreign exchange           5,266         -   2.9%
                                 --------- --------- ------
Total, as reported               $ 200,662 $ 179,965  11.5%
                                 ========= ========= ======


                                         Nine Months Ended June 30,
                                 -----------------------------------------
                                                                       %
                                   2010       %       2009     %    Change
                                 --------  -------  -------- ------  -----
                                               Gross Profit
                                 -----------------------------------------

Homecare                         $ 51,380     30.7% $ 45,283   31.1%  13.5%
Nursing Homes                       4,330     32.1%    6,027   31.2% -28.2%
Hospitals                           3,292     22.8%    3,842   25.3% -14.3%
                                 --------           --------         -----
Total, at constant exchange
 rates                             59,002     30.2%   55,152   30.6%   7.0%
Effect of foreign exchange          1,591                  -           2.9%
                                 --------           --------         -----
Total, as reported               $ 60,593           $ 55,152           9.9%
                                 --------           --------         -----


                                                    SG&A
                                 -----------------------------------------
SG&A, at constant exchange rates
 & excluding acquisition costs   $ 48,743           $ 46,224           5.4%
Acquisition costs, at constant
 exchange rates                       595                  -           1.3%
                                 --------           --------         -----
SG&A, at constant exchange rates   49,338             46,224           6.7%
Effect of foreign exchange          1,264                  -           2.8%
                                 --------           --------         -----
Total SG&A, as reported          $ 50,602           $ 46,224           9.5%
                                 --------           --------         -----


                                                Operating Income
                                 -----------------------------------------
Operating Income, at constant
 exchange rates & excluding
 acquisition costs               $ 10,259           $  8,928          14.9%
Acquisition costs, at constant
 exchange rates                      (595)                 -          -6.7%
                                 --------           --------         -----
Operating Income, at constant
 exchange rates                     9,664              8,928           8.2%
Effect of foreign exchange            327                  -           3.6%
                                 --------           --------         -----
Operating Income, as reported    $  9,991           $  8,928          11.9%
                                 ========           ========         =====


                                     Net income attributable to Allied
                                 -----------------------------------------
                                      Basic and            Basic and
                                     Diluted EPS          Diluted EPS
                                 -----------------------------------------
Income from continuing
 operations attributable to
 Allied, excluding acquisition
 costs                           $ 7,766     $  0.17    $ 6,999    $  0.15
Acquisition costs                   (610)   -$  0.01          -          -
                                 -------     -------    -------    -------
Net income attributable to
 Allied                          $ 7,156     $  0.16    $ 6,999    $  0.15
                                 =======     =======    =======    =======

For the nine months of fiscal 2010 total revenue increased 8.6%, to $195.4
million, compared with $180.0 million for the same period in fiscal 2009.
Allied’s Homecare revenue grew 15.1% to $167.5 million. The acquisition
completed in the third quarter of fiscal 2010 contributed 1.4%, or $2.1
million, to the increase in Homecare revenues. Nursing Homes revenue
declined 30.2% to $13.5 million and Hospitals revenue declined 4.8% to
$14.4 million. After the favorable impact of currency exchange of $5.3
million, revenue increased 11.5% year over year to the reported $200.7
million for the fiscal 2010 nine-month period.

Total gross profit for the nine months of fiscal 2010 increased 7.0% to
$59.0 million, from $55.2 million for the comparable period in fiscal 2009.
Gross profit as a percentage of revenue was 30.2%, compared with 30.6% for
the comparable prior-year period. Foreign exchange increased gross profit
by $1.6 million to the reported $60.6 million for the fiscal 2010
nine-month period.

SG&A, excluding acquisition costs, for the nine months of fiscal 2010 was
$48.7 million (24.9% of revenues), an increase of 5.4%, from $46.2 million
(25.7% of revenues) reported last year. We also incurred acquisition
costs of $0.6 million. Foreign exchange increased costs by $1.3 million to
the reported $50.6 million for the fiscal 2010 nine month period.

Operating income, before acquisition costs, for the nine months of fiscal
2010 increased by 14.9% to $10.3 million from $8.9 million a year ago.
Acquisition costs decreased operating income by $0.6 million. Foreign
exchange increased operating income by $0.3 million to the reported $10.0
million for the fiscal 2010 nine month period.

Income attributable to Allied, excluding acquisition costs, for the nine
months of fiscal 2010 was $7.8 million, or $0.17 per diluted share. Income
attributable to Allied for the nine months of fiscal 2010 was $7.2 million,
or $0.16 per diluted share, compared with $7.0 million, $0.15 per diluted
share, reported during the fiscal 2009 nine month period.

Cash balances as of June 30, 2010 were $37.0 million (£24.5 million) as
compared to $41.6 million (£27.6 million) as of March 31, 2010. The
decrease was primarily due to payments on acquisition and the Company’s
share buy back program.

For the fiscal nine months ended June 30, 2010, depreciation and
amortization was $3.2 million (£2.0 million), capital expenditures were
$2.4 million (£1.6 million). Days Sales Outstanding was 27 days at June 30,
2010 (42 days including unbilled account receivables), and 24 days at June
30, 2009 (46 days including unbilled account receivables).

Management Discussion

Sandy Young, Chief Executive Officer of Allied, commented, “Allied’s
Homecare revenue increased by 12.3% year over year. This is less than
previous growth levels and includes a 4.0% contribution from our newly
acquired Homecare business in Ireland. We are pleased with the transaction
progress and see opportunities to share our knowledge of Continuing Care
and learn from the Irish experience of supported living. We anticipate that
the contribution from our Irish business will exceed £10 million in revenue
and £1.2 million in EBITDA in the coming fiscal year. We believe the low
level of outsourcing in the Republic of Ireland will accelerate as the
government tries to extract the best value for taxpayers.

“There is no doubt that with the new budget year, which commenced in April,
Local Authorities have been controlling their spending. We have not seen
any significant decline so far, but local authority social care only
increased by 5.4%. In contrast, Continuing Care, which is funded by the
National Health Services (NHS) Primary Care Trusts (PCT’s), grew by 18%,
resulting in total growth in our Homecare business of 8.3% before the
benefits of Ireland.

“It has been reported that NHS spending will be protected over the life of
the parliament and we expect new outsourcing opportunities to emerge.
Although there will be a change from NHS Primary Care Trusts (about 150
nationally) to General Practitioner Consortia (about 500 nationally) within
two years, we do not see why that will restrict growth. At present PCT’s
outsource only a proportion of their spending and more care will be joint
commissioned as they try to bridge the gap between Healthcare and Social
Care. We are very well positioned to capitalize on these changes in the
industry.

“We have significant scope to increase our Continuing Care business as only
60 of our 113 total branches provide Continuing Care. Further, only about
12 branches provide the full range of Continuing Care, which includes high
intensity patients. We currently have plans to increase our sales and
marketing expenditures to promote these opportunities. We are also
exploring new service lines and during the quarter we piloted the Rapid
Intervention Service for End-of-life care (RISE) launched by NHS
Oxfordshire in July.

“The service aims to make first contact with a patient within 20 minutes at
times of crisis. The team operates between 8.00 am and 10.00 pm seven days
a week and can offer care and support for a maximum of six days. If
patients require overnight care, then the service will link with Marie
Curie Night Service or Out of Hours services. Furthermore, if ongoing care
is required, the RISE team also works to make sure other services are
involved so care can be continued if necessary.

“While we are positive about health spending, we can see there may be some
slowing in Local Authority spending. However, we believe that the larger
dynamics in this business will continue to have a positive impact.
Firstly, there is the steady increase because of the ageing profile of the
population. Secondly, a number of Local Authorities have not outsourced
care to the private sector. Thirdly, the reduction in the number of
suppliers used by each Authority will favor the larger players.

“Finally, quality is a major driver and we are delighted that we now have
91% of our branches rated by the Government (CQC) as good or excellent. In
the provision of such a sensitive service, quality is paramount.

“In the last month, we have won a 1,000 hours per week contract in Wales,
an 1,100 hour per week extra care scheme in London, and a place on the West
London Alliance which could be significantly more than 1,000 hours per
week.

“So we are still winning business but cannot quantify the effects of
savings in other areas. We are well placed to benefit from volume deals and
some of the smaller providers may find the temporary volume restrictions
hard.

“Overall I would hope that our Homecare business (before the benefit of
Ireland) can continue to grow in the 5% to 10% range rather than the 10% to
15% range previously highlighted. I think the 5% to 10% growth level will
be a feature of the medium term as the Local Authorities and PCT’s adjust,
but thereafter I see no reason why we will not return to the higher levels
of growth, particularly given the reinforced emphasis on outsourcing. There
are already other outsourcing opportunities Allied can initiate.

“Our Nursing Home activities continued to decline and we do not foresee any
immediate change. However, with Hospital Staffing we have posted a small
growth of 1%. We have also started to extract this business from our
Homecare network to allow for more focus. It now reports in to our
Commercial Director.”

Mr. Young concluded, “To support our commitment to providing our customers
with one of the highest levels of quality care in our industry and to
enhancing our leadership, Professor Raymond J. Playford has been appointed
to the new post of Medical Advisor to our Board. Professor Playford has
more than 25 years of experience in the medical field, specialising in
clinical research, and we look forward to benefiting from his profound
health care expertise, particularly in this environment.”

Dr. Jeff Peris, Chairman of Allied, commented, “Looking forward, we will
focus on executing our business strategy and building value for our
shareholders through organic growth, new service opportunities, strategic
acquisitions, as well as through our share buyback program. As of July 30,
2010 we had repurchased 1.1 million shares, or approximately $2.8 million,
of our stock under the $10 million stock repurchase program announced in
May 2010.”

Conference Call Information: August 3, 2010 at 10:00 AM Eastern Time /
3:00 PM UK Time

Allied will host a call and webcast today at 10:00 AM Eastern Time / 3:00
PM UK Time, to discuss its financial results. To join the call, please dial
(877) 407-8031 for domestic participants and (201) 689-8031 for
international participants. Participants may also access a live webcast of
the conference call through the “Investors” section of Allied Healthcare’s
Website: www.alliedhealthcare.com. A telephone replay will be available
until August 31st following the call by dialing (877) 660-6853 for domestic
participants and (201) 612-7415 for international participants. When
prompted, please enter account number 286 and conference ID number 353906.
A webcast replay will also be available and archived on the Company’s
website for ninety days.

Reconciliation of GAAP and Non-GAAP Data

In addition to disclosing results of operations that are determined in
accordance with generally accepted accounting principles (“GAAP”), this
press release also discloses non-GAAP results of operations that exclude or
include certain charges. These non-GAAP measures adjust for foreign
exchange effects and acquisition costs. Management believes that the
presentation of these non-GAAP measures provides useful information to
investors regarding the Company’s results of operations, as these non-GAAP
measures allow investors to better evaluate ongoing business performance.
Investors should consider non-GAAP measures in addition to, and not as a
substitute for, financial measures prepared in accordance with GAAP. A
reconciliation of the non-GAAP measures disclosed in this press release
with the most comparable GAAP measures are included in the financial tables
included in this press release.

ABOUT ALLIED HEALTHCARE INTERNATIONAL INC.

Allied Healthcare International Inc. is a leading provider of flexible
healthcare staffing services in the United Kingdom. Allied operates a
community-based network of approximately 115 branches with the capacity to
provide carers (known as home health aides in the U.S.), nurses, and
specialized medical personnel to locations covering approximately 90% of
the U.K. population. Allied meets the needs of private patients, community
care, nursing and care homes, and hospitals. For more news and information
please visit: www.alliedhealthcare.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release may be forward-looking
statements. These forward-looking statements are based on current
expectations and projections about future events. Actual results could
differ materially from those discussed in, or implied by, these
forward-looking statements. Factors that could cause actual results to
differ from those implied by the forward-looking statements include:
general economic and market conditions; the effect of the change in the
U.K. government and the impact of proposed changes in recent policy making
related to health and social care that may reduce revenue and
profitability; Allied’s ability to continue to recruit and retain flexible
healthcare staff; Allied’s ability to enter into contracts with local
government social services departments, NHS Trusts, hospitals, other
healthcare facility clients and private clients on terms attractive to
Allied; the general level of demand and spending for healthcare and social
care; dependence on the proper functioning of Allied’s information systems;
the effect of existing or future government regulation of the healthcare
and social care industry, and Allied’s ability to comply with these
regulations; the impact of medical malpractice and other claims asserted
against Allied; the effect of regulatory change that may apply to Allied
and that may increase costs and reduce revenues and profitability; Allied’s
ability to use net operating loss carry forwards to offset net income; the
effect that fluctuations in foreign currency exchange rates may have on our
dollar-denominated results of operations; and the impairment of goodwill,
of which Allied has a substantial amount on the balance sheet, may have the
effect of decreasing earnings or increasing losses. Other factors that
could cause actual results to differ from those implied by the
forward-looking statements in this press release include those described in
Allied’s most recently filed SEC documents, such as its most recent annual
report on Form 10-K, all quarterly reports on Form 10-Q and any current
reports on Form 8-K filed since the date of the last Form 10-K. Allied
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events, or
otherwise.



ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

                                  Three Months Ended    Nine Months Ended
                                --------------------- --------------------
                                 June 30,   June 30,   June 30,   June 30,
                                   2010       2009       2010       2009
                                ---------  ---------- ---------  ---------
Revenues:
  Net patient services          $  65,748  $   63,103 $ 200,662  $ 179,965
                                ---------  ---------- ---------  ---------

Cost of revenues:
  Patient services                 45,980      43,930   140,069    124,813
                                ---------  ---------- ---------  ---------

     Gross profit                  19,768      19,173    60,593     55,152

Selling, general and
 administrative expenses           17,176      16,276    50,602     46,224
                                ---------  ---------- ---------  ---------

     Operating income               2,592       2,897     9,991      8,928

Interest income                        84          76       275        453
Interest expense                      (10)          -       (10)       (12)
Foreign exchange (loss) income        (46)        307      (259)       (60)
                                ---------  ---------- ---------  ---------

     Income before income
      taxes and discontinued
      operations                    2,620       3,280     9,997      9,309

Provision for income taxes            903         892     2,784      2,310
                                ---------  ---------- ---------  ---------

     Income from continuing
      operations                    1,717       2,388     7,213      6,999
                                ---------  ---------- ---------  ---------

Discontinued operations:
Income from discontinued
 operations, net of taxes               -           -         -        367
                                ---------  ---------- ---------  ---------

Net income                          1,717       2,388     7,213      7,366

Less: Net income attributable
 to noncontrolling interest           (57)          -       (57)         -
                                ---------  ---------- ---------  ---------

Net income attributable to
 Allied Healthcare
 International Inc.             $   1,660  $    2,388 $   7,156  $   7,366
                                =========  ========== =========  =========

Amounts attributable to Allied
 Healthcare International Inc.:
     Income from continuing
      operations, net of tax    $   1,660  $    2,388 $   7,156  $   6,999
     Discontinued operations,
      net of tax                        -           -         -        367
                                ---------  ---------- ---------  ---------
     Net income                 $   1,660  $    2,388 $   7,156  $   7,366
                                =========  ========== =========  =========

Earnings per share - basic and
 diluted attributable to Allied
 Healthcare International Inc.
 common shareholders
     Income from continuing
      operations                $    0.04  $     0.05 $    0.16  $    0.15
     Discontinued operations            -           -         -       0.01
                                ---------  ---------- ---------  ---------
Net income attributable to
 Allied Healthcare
 International Inc.
 common shareholders            $    0.04  $     0.05 $    0.16  $    0.16
                                =========  ========== =========  =========

Weighted average number of
 common shares outstanding:
     Basic                         45,045      44,986    45,102     44,986
                                =========  ========== =========  =========
     Diluted                       45,269      44,998    45,363     44,990
                                =========  ========== =========  =========





ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)

                                                    June 30,  September 30,
                                                      2010         2009
                                                  (Unaudited)
                                                  -----------  -----------
ASSETS

Current assets:
  Cash and cash equivalents                       $    36,954  $    35,273
  Accounts receivable, less allowance for
   doubtful accounts of $694 and $839,
   respectively                                        19,584       19,594
  Unbilled accounts receivable                         10,970       11,572
  Deferred income taxes                                   403          389
  Prepaid expenses and other assets                     1,501        1,188
                                                  -----------  -----------
         Total current assets                          69,412       68,016

Property and equipment, net                             9,303        7,756
Goodwill                                               98,114       95,649
Other intangible assets, net                            3,699        1,646
                                                  -----------  -----------
         Total assets                             $   180,528  $   173,067
                                                  ===========  ===========

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
  Accounts payable                                $     1,099  $     1,186
  Current maturities of debt and capital leases           567            -
  Accrued expenses, inclusive of payroll and
   related expenses                                    24,866       24,304
  Taxes payable                                           970          201
                                                  -----------  -----------
         Total current liabilities                     27,502       25,691

Long-term debt and capital leases,
 net of current maturities                                394            -
Deferred income taxes                                   1,425          103
Other long-term liabilities                               294            -
                                                  -----------  -----------
         Total liabilities                             29,615       25,794
                                                  -----------  -----------

Commitments and contingencies

                                                  -----------  -----------
Noncontrolling interest                                 4,028            -
                                                  -----------  -----------

Shareholders' equity:
  Preferred stock, $.01 par value; authorized
   10,000 shares, issued and outstanding - none             -            -
  Common stock, $.01 par value; authorized 80,000
   shares, issued 45,721 and 45,571 shares,
   respectively                                           457          456
  Additional paid-in capital                          242,312      241,555
  Accumulated other comprehensive loss                (21,403)     (14,418)
  Accumulated deficit                                 (70,870)     (78,026)
                                                  -----------  -----------
                                                      150,496      149,567
  Less cost of treasury stock (1,089 and 585
   shares, respectively)                               (3,611)      (2,294)
                                                  -----------  -----------
         Total shareholders' equity                   146,885      147,273
                                                  -----------  -----------
         Total liabilities and shareholders'
          equity                                  $   180,528  $   173,067
                                                  ===========  ===========





ALLIED HEALTHCARE INTERNATIONAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

                                                        Nine Months Ended
                                                        June 30,  June 30,
                                                          2010      2009
                                                        --------  --------
Cash flows from operating activities:
  Net income                                            $  7,213  $  7,366
  Adjustments to reconcile net income to net
   cash provided by operating activities:
     Income from discontinued operations                       -      (367)
     Depreciation and amortization                         2,242     1,880
     Amortization of intangible assets                       952       921
     Foreign exchange gain                                    (2)     (221)
     (Decrease) increase in provision for
      allowance for doubtful accounts                        (24)      100
     (Gain) loss on sale of fixed assets                      (2)       11
     Stock based compensation                                471       366
     Deferred income taxes                                   102      (246)
  Changes in operating assets and liabilities,
   excluding the effect of businesses acquired and
   sold:
     Increase in accounts receivable                        (335)     (518)
     Decrease (increase) in prepaid expenses
      and other assets                                       671    (1,137)
     Increase in accounts payable and other
      liabilities                                          1,693     2,875
                                                        --------  --------

        Net cash provided by continuing
         operations                                       12,981    11,030
                                                        --------  --------

Cash flows from investing activities:
  Capital expenditures                                    (2,428)   (2,152)
  Proceeds from sale of business                               -       114
  Proceeds from sale of property and equipment                62         1
  Acquisition of controlling interest,
   net of cash acquired                                   (5,812)        -
  Payments on acquisitions payable                             -      (171)
                                                        --------  --------

        Net cash used in investing activities             (8,178)   (2,208)
                                                        --------  --------

Cash flows from financing activities:
  Stock options exercised                                    288         -
  Borrowings under invoice discounting facility, net         248         -
  Repayments of debt and capital lease obligations          (121)        -
  Treasury shares acquired                                (1,317)        -
                                                        --------  --------

        Net cash used in financing activities               (902)        -
                                                        --------  --------

Effect of exchange rate on cash                           (2,220)   (1,361)
                                                        --------  --------

Increase in cash                                           1,681     7,461

Cash and cash equivalents, beginning of period            35,273    26,199
                                                        --------  --------

Cash and cash equivalents, end of period                $ 36,954  $ 33,660
                                                        ========  ========

Supplemental cash flow information:
  Cash paid for interest                                $     10  $    300
                                                        ========  ========

  Cash paid for income taxes, net                       $  1,025  $    137
                                                        ========  ========

Supplemental disclosure of non-cash investing
 and financing activities:
  Capital expenditures included in accrued expenses
   and other long-term liabilities                      $    609  $      -
                                                        ========  ========

  Details of business acquired in purchase
   transactions:
     Fair value of assets acquired                      $ 12,430
                                                        ========

     Liabilities assumed or incurred                    $  2,694
                                                        ========

     Noncontrolling interest                            $  3,888
                                                        ========

     Cash paid for acquisitions                         $  5,848
     Cash acquired                                            36
                                                        --------

     Net cash paid for acquisitions                     $  5,812
                                                        ========





ALLIED HEALTHCARE INTERNATIONAL INC.
HISTORICAL REVENUE AND GROSS PROFIT
(In thousands, except foreign exchange rate)
(Unaudited)

                                             Revenue
                                ---------- ---------- ----------
                                    Q3         Q2         Q1
                                  2010       2010       2010
                                ---------- ---------- ----------

Homecare                        GBP 38,323 GBP 35,860 GBP 35,903
Nursing Homes                        2,731      2,864      3,261
Hospitals                            2,933      3,235      3,330
                                ---------- ---------- ----------
Total                           GBP 43,987 GBP 41,959 GBP 42,494
Foreign Exchange rate                 1.49       1.56       1.63
                                ---------- ---------- ----------
                                $   65,748 $   65,530 $   69,384
                                ========== ========== ==========


                                                 Revenue
                                ---------- ---------- ---------- ----------
                                    Q4         Q3         Q2         Q1
                                  2009       2009       2009       2009
                                ---------- ---------- ---------- ----------

Homecare                        GBP 35,763 GBP 34,162 GBP 30,858 GBP 30,620
Nursing Homes                        3,986      3,716      4,159      4,808
Hospitals                            2,956      2,914      3,448      3,612
                                ---------- ---------- ---------- ----------
Total                           GBP 42,705 GBP 40,792 GBP 38,465 GBP 39,040
Foreign Exchange rate                 1.64       1.55       1.44       1.58
                                ---------- ---------- ---------- ----------
                                $   69,845 $   63,103 $   55,334 $   61,528
                                ========== ========== ========== ==========


                                                 Revenue
                                ---------- ---------- ---------- ----------
                                    Q4         Q3         Q2         Q1
                                  2008       2008       2008       2008
                                ---------- ---------- ---------- ----------

Homecare                        GBP 30,218 GBP 29,130 GBP 27,561 GBP 27,358
Nursing Homes                        5,140      4,969      5,373      5,730
Hospitals                            4,088      3,926      4,358      3,473
                                ---------- ---------- ---------- ----------
Total                           GBP 39,446 GBP 38,025 GBP 37,292 GBP 36,561
Foreign Exchange rate                 1.90       1.97       1.98       2.05
                                ---------- ---------- ---------- ----------
                                $   74,968 $   75,024 $   73,815 $   74,770
                                ========== ========== ========== ==========



                                          Gross Profit
                                ---------- ---------- ----------
                                    Q3         Q2         Q1
                                  2010       2010       2010
                                ---------- ---------- ----------

Homecare                        GBP 11,651 GBP 11,083 GBP 11,041
Nursing Homes                          882        931      1,033
Hospitals                              696        755        712
                                ---------- ---------- ----------
Total                           GBP 13,229 GBP 12,769 GBP 12,786
Foreign Exchange rate                 1.49       1.56       1.63
                                ---------- ---------- ----------
                                $   19,768 $   19,948 $   20,877
                                ========== ========== ==========


                                               Gross Profit
                                ---------- ---------- ---------- ----------
                                    Q4         Q3         Q2         Q1
                                  2009       2009       2009       2009
                                ---------- ---------- ---------- ----------

Homecare                        GBP 10,951 GBP 10,525  GBP 9,753  GBP 9,487
Nursing Homes                        1,257      1,187      1,298      1,477
Hospitals                              745        679        874        973
                                ---------- ---------- ---------- ----------
Total                           GBP 12,953 GBP 12,391 GBP 11,925 GBP 11,937
Foreign Exchange rate                 1.64       1.55       1.44       1.58
                                ---------- ---------- ---------- ----------
                                $   21,196 $   19,173 $   17,166 $   18,813
                                ========== ========== ========== ==========


                                               Gross Profit
                                ---------- ---------- ---------- ----------
                                    Q4         Q3         Q2         Q1
                                  2008       2008       2008       2008
                                ---------- ---------- ---------- ----------

Homecare                         GBP 9,447  GBP 9,294  GBP 8,476  GBP 8,491
Nursing Homes                        1,554      1,531      1,596      1,706
Hospitals                            1,050        888      1,009        767
                                ---------- ---------- ---------- ----------
Total                           GBP 12,051 GBP 11,713 GBP 11,081 GBP 10,964
Foreign Exchange rate                 1.90       1.97       1.98       2.05
                                ---------- ---------- ---------- ----------
                                $   22,911 $   23,120 $   21,931 $   22,423
                                ========== ========== ========== ==========

Contact:

Allied Healthcare International Inc.
Sandy Young
Chief Executive Officer
Paul Weston
Chief Financial Officer
+44 (0) 17 8581 0600
Or
Piper Jaffray Ltd. (Nominated Adviser)
Matthew Flower
Rupert Winckler
+44 (0) 20 3142 8700
Or
ICR, LLC
Sherry Bertner
Managing Director
+1 646 277 1200
[email protected]

Filed Under: Healthcare Business

TRDX’s Medical & Dental Products Division Signs LOI Exclusive Licensing Rights for "SoleCare(R)," an Innovative, Patent Pending,…

Posted on August 3, 2010 Written by Editor

SOURCE: Trend Exploration, Inc.

JERICHO, NY–(Marketwire – August 3, 2010) – SciMeDent Health, Corp. f/k/a Trend Exploration, Inc. (“TRDX” or the “Company”) (PINKSHEETS: TRDX) today announces that Preferred Distribution, Inc., the Company’s medical and dental products subsidiary, has signed a Letter of Intent (“LOI”) to acquire the exclusive licensing rights to SoleCare®, an innovative, patent pending, podiatry product.

SoleCare® is a unique new product for the removal of calluses by pedicurists.

The Company expects the continuing negotiations to result in a definitive agreement in the near term.

Dr. Gary Wallach, the inventor of SoleCare®, stated: “I am very excited about the decision to work with SciMeDent on the development and distribution of my SoleCare line of products.”

Dr. Stahl, CEO of TRDX, commented: “We advanced our discussions from a distribution relationship to an exclusive license deal. Having a license makes us more of a partner with Dr. Wallach and the SoleCare® team.”

About SCIMEDENT f/k/a Trend Exploration, Inc. (PINKSHEETS: TRDX)

SciMeDent (www.scimedenthealth.com) is a company focused on being a leading developer and marketer of products and services for medicine, dentistry and life sciences. SciMeDent plans to achieve growth initially through mergers and acquisitions.

Cautionary Statement Regarding Forward-Looking Statements

A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the sufficiency of existing capital resources, technological or industry changes and uncertainties related to the development of the Company’s business model. The actual results the Company may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.

Filed Under: Healthcare Business

Sun Healthcare Group, Inc. Announces Public Offering of 19.3 Million Shares of Common Stock

Posted on August 3, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – August 3, 2010) –  Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced that it plans to offer 19,300,000 shares of its common stock in an underwritten public offering through an existing shelf registration statement. In connection with the offering, Sun expects to grant the underwriters a 30-day option to purchase up to 2,895,000 additional shares of its common stock to cover any over-allotments, if applicable.

Sun intends to use the net proceeds from this offering to repay a portion of the outstanding term loans under its existing credit facility.

Jefferies & Company, Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. are the joint book-running managers for this offering.

This press release does not constitute an offer to sell or a solicitation of any offer to buy the shares of Sun’s common stock described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering may be made only by means of the prospectus supplement and the related prospectus relating to the proposed offering, copies of which may be obtained, when available, by written request to Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, by telephone at (877) 547-6340, or by e-mail at [email protected]; or Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010 or by telephone at (800) 221-1037.

About Sun Healthcare Group, Inc.

Sun Healthcare Group, Inc.’s (NASDAQ: SUNH) subsidiaries provide nursing, rehabilitative and related specialty healthcare services principally to the senior population in the United States. Sun’s core business is providing, through its subsidiaries, inpatient services, primarily through 166 skilled nursing centers, 16 combined skilled nursing, assisted and independent living centers, 10 assisted living centers, two independent living centers and eight mental health centers. On a consolidated basis, Sun has annual revenues of $1.9 billion and approximately 30,000 employees in 46 states. At June 30, 2010, SunBridge centers had 23,209 licensed beds located in 25 states, of which 22,427 were available for occupancy. Sun also provides rehabilitation therapy services to affiliated and non-affiliated centers through its SunDance subsidiary, medical staffing services through its CareerStaff Unlimited subsidiary and hospice services through its SolAmor subsidiary. 

Forward-Looking Statements 

Statements made in this release that are not historical facts are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These forward-looking statements may include, but are not limited to, statements containing words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “hope,” “intend,” “may” and similar expressions. Factors that could cause actual results to differ are identified in the public filings made by the Company with the Securities and Exchange Commission and include our ability to successfully complete the offering on terms and conditions satisfactory to us, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings. More information on factors that could affect our business and financial results are included in our public filings made with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which are available on Sun’s web site, www.sunh.com. The forward-looking statements involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control. We caution investors that any forward-looking statements made by Sun are not guarantees of future performance. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements to reflect future events or developments.

Contact:
Investor Inquiries
(505) 468-2341

Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business

Imprivata Raises the Bar for Fast and Secure Access to Applications With OneSign 4.5

Posted on August 2, 2010 Written by Editor

SOURCE: Imprivata

New Features Solve Workflow and Security Challenges in Windows 7 Environment

LEXINGTON, MA–(Marketwire – August 2, 2010) –   Imprivata®, Inc., the company that simplifies and secures user access, today announced the general availability of Imprivata OneSign 4.5. With breakthrough features such as OneSign Secure Walk-Away, and capabilities such as strong authentication for Citrix and RDP sessions, enhanced support for virtualized desktops and FIPS 140-2 compliance, the new release solves the critical workflow and security challenges organizations face by strengthening user authentication, streamlining application access and simplifying compliance reporting.

“Imprivata OneSign has grown to the point that our users see it as another service we offer to make their lives easier,” said Jack Thompson, senior customer support tech, Southwest Washington Medical Center. “When your product is able to provide security and productivity at the same time, you’re doing something right.” 

IMPROVED END-USER WORKFLOW

OneSign 4.5 delivers enhancements to many of the existing features that have made the product the leader in its category, and introduces new features that change the way organizations think about secure access to applications.

  • Automatic Desktop Locking via OneSign Secure Walk-Away uses intelligent computer vision technology with active presence detection to secure unattended desktops without changing end-user behavior. This removes the security burden from the user and reduces the time and frustration associated with logging on/off of applications. Secure Walk-Away is particularly useful in healthcare, where clinicians who constantly log on/off of electronic medical records (EMR) and other applications are now free to focus on improving patient care rather than IT security. 
  • One-touch Roaming and Location Awareness enables desktops to follow users throughout the organization, making the electronic data they need available to them wherever they are with just the touch of a finger or the tap of a proximity card. Imprivata OneSign can be configured to be fully location aware, meaning application, default printer and user privileges are configured dynamically based on the particular workstation being accessed by the user. Imprivata OneSign complements desktop virtualization from VMware View and Oracle Sun Ray, by adding the capabilities to enable secure roaming including strong authentication, single sign-on (SSO), session management and location-aware desktop personalization and customization. 

INCREASED IT SECURITY

  • Transparent Screen Locking secures a computer desktop from unauthorized access while at the same time maintaining the desktop/applications’ visibility for monitoring purposes. This feature is critical to healthcare, where particular sessions must be locked, while patient status remains visible to care givers. 
  • Enhanced Transaction-based Authentication supports additional workflows through OneSign ProveID, Imprivata’s unique feature being used by leading EMR vendors for ePrescribing. 
  • Fingerprint Identification Enhancements enable scalability to accommodate the largest organizations.

ENHANCED DELIVERY/PACKAGING OPTIONS

  • The OneSign Virtual Appliance is a self contained software implementation of the OneSign server that is functionally equivalent to the hardware appliance. OneSign virtual appliances are formatted using the industry standard Open Virtualization Format (OVF). Heterogeneous enterprises can be deployed with both virtual and hardware OneSign Appliances.
  • FIPS 140-2 compliance
  • Windows 7 support

“Improving user productivity and securing data are inherently competing goals,” commented Omar Hussain, president and CEO at Imprivata. “As our customers rely increasingly on fast access to digital data to be successful, security and compliance requirements across industries around the world are making access to that data more and more difficult. Imprivata has earned its leadership position by anticipating customer needs and continuing to deliver new and unique technologies that simplify and secure access to corporate data. Imprivata OneSign 4.5 is the latest proof that user productivity and IT security do not have to be mutually exclusive.” 

Centrally managed from a single administrative console, Imprivata OneSign secures access across Windows, host-based, Citrix and virtual desktop environments. OneSign empowers organizations to balance the need for stronger security with improved user workflow and productivity. The solution also reduces the time and complexity of complying with regulated access control requirements and password management costs that consume IT help desk resources.

About Imprivata
Imprivata is the leading independent vendor focused on simplifying and securing user access. By strengthening user authentication, streamlining application access and simplifying compliance reporting across multiple computing environments, customers realize substantial IT helpdesk and administration cost savings, while achieving the security standards they demand.

Imprivata has received numerous product awards and top review ratings from leading industry publications and analysts. Headquartered in Lexington, Mass., Imprivata partners with over 200 resellers, and serves the access security needs of more than 1,000 customers around the world. For more information, please visit www.imprivata.com.

Imprivata is a registered trademark of Imprivata, Inc. in the USA and other countries. All other product or company names mentioned are the property of their respective owners.

RSS Feed to Imprivata News: http://feeds.feedburner.com/ImprivataNews
Follow Imprivata on Twitter: https://twitter.com/Imprivata

Contacts:
Jen Ryan
Imprivata, Inc.
(860) 810-7238
Email Contact

Matt Flanagan
fama PR
(617) 758-4141
Email Contact

id=”nav_links”>

Filed Under: Healthcare Business

Bederra Corporation Attains Pink Sheets Current Information Status

Posted on July 30, 2010 Written by Editor

SOURCE: Bederra Corporation

HOUSTON, TX–(Marketwire – July 30, 2010) –  Bederra Corporation (PINKSHEETS: BEDA) management announced that the company has attained Pinksheet Current Information status on otcmarkets.com. Management had previously announced its intention to satisfy the “Alternative Reporting Standard” of public transparency in the company’s efforts to further investor relations and voluntarily make adequate and current information publicly available.

Management also noted that it remains currently in discussions with several potential acquisition candidates both in the medical area and outside this market. While the company remains dedicated to further growth in the medical services industry, management had recently announced its decision to explore diversification options in the interest of shareholders until further information regarding the overall direction of the recently passed healthcare legislation is announced. 

About Bederra Corp.
http://www.bederra.com
Bederra Corporation provides multiple modality diagnostic medical services to the greater Houston area and the world famous Texas Medical Center. The Company’s business strategy is to continue to expand its current operations and seek out additional acquisitions that will complement its core offerings.

Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products and services in development, including any planned acquisitions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements might not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.

Contact:
Bederra Corp.
Email Contact

Filed Under: Healthcare Business

NicOx first half 2010 financial results

Posted on July 30, 2010 Written by Editor

SOURCE: NICOX

SOPHIA ANTIPOLIS, FRANCE–(Marketwire – July 30, 2010) – www.nicox.com

NicOx S.A. (NYSE Euronext Paris: COX) today reported its financial results
for the six months ended June 30, 2010 and provided a business update on
its activities.

Michele Garufi, Chairman and CEO of NicOx, declared: “This has been both an
active and a challenging first half for NicOx, as we worked with regulators
in the United States and Europe on the marketing applications for
naproxcinod. We will collaborate closely with both regulatory authorities
in the coming months. We will also focus on securing potential licensing
agreements for naproxcinod in Europe and the rest of the world, ensuring
the continued success of our existing partnerships and prioritizing our
research programs. We will continue to manage our cash resources in the
most cost-effective manner to ensure the future growth of the Company
whilst also pursuing appropriate in-licensing and M&A opportunities.”

Key events of the first six months of 2010:

– NicOx and Bausch + Lomb signed a Worldwide Licensing Agreement for the
glaucoma candidate NCX 116

– The European Medicines Agency (EMA) validated the Marketing Authorization
Application (MAA) for naproxcinod

– Joint Advisory Committee of the U.S. Food and Drug Administration (FDA)
voted that they did not have sufficient evidence to support the approval of
naproxcinod for the relief of the signs and symptoms of osteoarthritis

– Additional clinical data for naproxcinod and preclinical results for NCX
434 and NCX 1236, two of the Company’s nitric oxide (NO)-donating New
Molecular Entities, were presented at scientific and medical conferences

– NicOx and TOPIGEN Pharmaceuticals Inc. mutually terminated their
collaboration for TPI 1020 as a result of the acquisition of TOPIGEN

Post reporting period:

– On July 22, 2010, NicOx announced the receipt of a Complete Response
Letter from the U.S. Food and Drug Administration (FDA), stating that it
could not approve the New Drug Application (NDA) for naproxcinod. NicOx
plans on discussing the Complete Response Letter and potential next steps
with the FDA, as early as possible.

Eric Castaldi, Chief Financial Officer of NicOx, declared: “NicOx has a
strong cash position, with no long-term debt and cash and cash equivalents
totaling ?128.4 million at the end of June 2010. We will continue to
ensure careful conservation of our funds.”

Financial summary for the first half of 2010:

Revenues for the first half of 2010 were ?7.4 million, compared to
?1.1 million during the same period in 2009. These revenues correspond
to the initial license payment received from Bausch + Lomb in the first
quarter of the year, as per the agreement signed in March 2010.

For the first six months of 2010, operating expenses were ?36.4
million, compared to ?32.7 million for the same period in 2009. These
expenses correspond principally to personnel costs related to the
regulatory processes for naproxcinod both in the United States and in
Europe, investments in naproxcinod’s supply chain and costs related to the
anticipated cancellation of certain manufacturing and pre-commercial
activities following the decision of the FDA.

NicOx recorded a total net loss for the period of ?27.5 million for
the first six months of 2010, compared to a corresponding net loss of
?27.2 million for the same period in 2009. On June 30, 2010, NicOx had
cash and cash equivalents of ?128.4 million, compared to ?148.3
million on December 31, 2009.

Review of the first six months of 2010:

Signature of a Worldwide Licensing Agreement with Bausch + Lomb

In March 2010, NicOx and Bausch + Lomb signed a Worldwide Licensing
Agreement granting Bausch + Lomb exclusive rights to develop and
commercialize NCX 116, an NO-donating prostaglandin F2-alpha analog for the
potential treatment of glaucoma and ocular hypertension. Both companies
have already held an initial meeting to agree on the next steps for the
development of NCX 116. Under the terms of this agreement, NicOx received
an initial license payment of $10 million and stands to receive potential
milestones totaling $169.5 million, as well as tiered double-digit
royalties on the sales of NCX 116.

Regulatory status of naproxcinod in the United States

A Joint Advisory Committee of the FDA, including the Arthritis Drugs
Advisory Committee and the Drug Safety and Risk Management Advisory
Committee, voted by 16 to 1 with 1 abstention on May 12, 2010 that they did
not have sufficient evidence at that time to support the approval of
naproxcinod for the relief of the signs and symptoms of osteoarthritis.

On July 22, 2010, NicOx announced the receipt of a Complete Response Letter
from the U.S. Food and Drug Administration (FDA) related to the New Drug
Application (NDA) for naproxcinod. The FDA informed NicOx that its review
of the NDA was complete and that it did not approve the naproxcinod
application. The FDA recommended conducting one or more long-term
controlled studies to assess the cardiovascular and gastrointestinal safety
of naproxcinod. Additional studies to demonstrate a clinically meaningful
therapeutic benefit attributable to the nitric oxide donation were also
recommended. No clinical efficacy studies were requested. NicOx plans to
discuss the Complete Response Letter and potential next steps as early as
possible with the FDA.

Regulatory status of naproxcinod in Europe

In January 2010, the European Medicines Agency (EMA) validated the
Marketing Authorization Application (MAA) for naproxcinod, which was
submitted through the centralized procedure in December 2009. NicOx is
seeking approval for an indication for the relief of the signs and symptoms
of primary osteoarthritis. The Medicinal Products for Human Use (CHMP)
opinion is expected by mid-2011, the exact timing depending on the
interactions needed with the health authorities in the last phase of the
review process.

Presentation of scientific results for naproxcinod

Detailed results from the 301 study were published in the May issue of
Osteoarthritis and Cartilage. Additional clinical data for naproxcinod were
presented in May at the American Society of Hypertension Annual Scientific
Meeting and Exposition in New York and in June at the European Meeting on
Hypertension in Olso and the Annual European Congress of Rheumatology in
Rome.

Presentation of promising preclinical results in international conferences

Preclinical results obtained with two of NicOx’s NO-donating New Molecular
Entities (NMEs) were presented in congresses in the first half of 2010. In
May, preclinical findings obtained with NCX 1236, a lead compound for the
potential treatment of Neuropathic Pain, were presented at the
International Congress on Neuropathic Pain in Athens. Preclinical results
for NCX 434, a potential preclinical candidate in Diabetic Macular Edema
(DME), were presented in May at the Ocular Diseases & Drug Discovery
conference in Boston and in June at the Retina International World Congress
in Stresa.

Review of the consolidated financial results for the six months ended June
30, 2010 and 2009:

Revenues

NicOx’s revenues totaled ?7.4 million for the six months ended June
30, 2010 compared to ?1.1 million for the six months ended June 30,
2009.

This significant increase results from the recognition as revenues during
the first quarter of 2010 of ?7.4 million corresponding to the initial
license payment received from Bausch + Lomb following the signature of a
licensing agreement in March 2010 that granted Bausch + Lomb exclusive
worldwide rights to develop and commercialize NCX 116. This amount has been
immediately recognized in revenues because the Company will not have
continuing involvement in the future development of the compound which is
subject of this collaboration agreement. No revenues have been recorded in
the second quarter of 2010.

Operating expenses

For the six months ended June 30, 2010, operating expenses totaled
?36.4 million, compared to ?32.7 million for the six months ended
June 30, 2009, of which, 74% was attributable to research and development
expenses and 26% attributable to selling and administrative expenses in the
first semester of 2010, compared to 77% and 23% respectively in the first
semester of 2009.

Research and development expenses were ?26.9 million during the first
semester of 2010, compared to ?25.1 million during the first semester
of 2009 (including ?0.1 million allocated to cost of sales in 2009
corresponding to the expenses incurred by NicOx in performing research
activities under the contract signed with Pfizer). In the first semester of
2010, research and development expenses correspond principally to personnel
expenses related to the activities performed in relation with the
naproxcinod New Drug Application and Marketing Authorization Application
submitted respectively in the US and in Europe and to investment expenses
in dedicated manufacturing facilities of its active ingredient supplier DSM
in order to increase the naproxcinod supply chain capacity and flexibility.
Following the decision in July 2010 of the FDA not to approve the marketing
application for naproxcinod in the US, indemnities in an amount of
?6.9 million have been booked as research and development expenses in
the accounts as of June 30, 2010, to be paid to suppliers involved in the
manufacturing of naproxcinod for the anticipated cancellation of purchase
orders. The Company employed 79 people in research and development on June
30, 2010, compared to 93 people at the same date in 2009.

General and administrative expenses were ?3.2 million in the first
semesters of 2010 and 2009 and include personnel expenses in administrative
and financial functions, as well as the remuneration of corporate officers,
including stock option, free share and warrant attributions. Selling and
corporate development expenses totaled ?6.2 million during the first
six months ended June 30, 2010 compared to ?4.4 million during the
same period in 2009 and correspond to market research and analysis
activities for naproxcinod, as well as the business development and
communication activities of the Company. The Company employed 48 people in
its selling, general and administrative departments on June 30, 2010,
compared to 39 people on June 30, 2009.

Other income

Other income totaled ?1.6 million during the first semester of 2010
compared to ?3.1 million in the first semester of 2009. Other income
corresponds mainly to the operational subsidies from the research tax
credits in France and in Italy.

Operating result

The operating loss amounted to ?27.4 million in the six months ended
June 30, 2010, compared to ?28.5 million in the same period in 2009.

Other results

Net financial income totaled ?0.1 million during the first semester of
2010, compared to ?1.3 million during the first semester of 2009, and
represents mainly the returns on the financial investments of the Company’s
cash, cash equivalents.

The income tax expense incurred by NicOx during the first six months of
2010 relates to tax from its US and Italian subsidiaries and totaled
?0.3 million, compared to ?0.1 million during the same period in
2009.

Total net loss of the period

The total net loss for the period was ?27.5 million on June 30, 2010,
compared to ?27.2 million on June 30, 2009. Notwithstanding the strong
increase of the revenues recognized in the first six months of 2010
following the initial license payment received from Bausch + Lomb, the
total net loss on June 30, 2010 remains at the same level as last year due
to the impact of the anticipated cancellation of manufacturing and pre-
commercial activities related to naproxcinod following the decision of the
FDA not to approve the application of the product in the United States.

Consolidated statement of financial position

The indebtedness incurred by NicOx is mainly short-term operating debt. On
June 30, 2010, the Company’s current liabilities totaled ?16.6
million, including ?12.0 million in accounts payable to suppliers and
external collaborators (including ?5.9 million with respect to the
cancellation of orders of naproxcinod active drug substance), ?2.5
million in accrued compensation for employees, ?1.9 million in other
contingencies and liabilities (corresponding to the costs related to the
anticipated cancellation of certain manufacturing and pre-commercial
activities following the decision of the FDA) and ?0.2 million for
other liabilities.

The Company’s cash and cash equivalents were ?128.4 million on June
30, 2010, compared to ?148.3 million on December 31, 2009, and
?76.8 million on June 30, 2009. In late 2009, the Company completed a
two step capital increase and received a total of ?94.6 million
corresponding to the net proceeds of the following operations: ?29.4
million from a private placement of shares to institutional investors
completed on November 23, 2009, and ?65.2 million from a rights issue
completed on December 23, 2009.

NicOx will continue to pursue the European regulatory process for
naproxcinod and follow-up with the FDA after the Complete Response Letter.
NicOx will actively seek to enter into partnerships for naproxcinod. The
Company’s cash position is strong and NicOx is taking all necessary steps
to preserve it.

Risks factors which are likely to have a material effect on NicOx’s
business are presented in the 4th chapter of the ” Document de
référence, rapport financier annuel et rapport de gestion 2009 ”
filed with the French Autorité des Marchés Financiers (AMF) on
March 5, 2010 and available on NicOx’s website (www.nicox.com) and on the
AMF’s website (www.amf-france.org).

The Company notably draws the investors’ attention to the following risk
factors:

– Risques liés à la dépendance de la Société
à l’égard du naproxcinod (Risks related to the Company’s
dependence on the success of its lead product naproxcinod)

– Risques commerciaux et développements cliniques (Clinical
developments and commercial risk)

– Risques liés aux contraintes réglementaires et à la
lenteur des procédures d’approbation (Risks linked to regulatory
constraints and slow approval procedures)

– Manque de capacités dans les domaines de la vente et du marketing
(Lack of sales and marketing capabilities)

– Incertitude relative aux prix des médicaments et aux régimes de
remboursement, ainsi qu’en matière de réforme des régimes
d’assurance maladie (Uncertainty on drug pricing and reimbursement policies
and on the reforms of the health insurance systems)

NicOx (Bloomberg: COX:FP, Reuters: NCOX.PA) is a pharmaceutical company
focused on the research, development and future commercialization of drug
candidates. NicOx is applying its proprietary nitric oxide-donating R&D
platform to develop an internal portfolio of New Molecular Entities (NME)
for the potential treatment of inflammatory, cardio-metabolic and
ophthalmological diseases.

NicOx’s lead investigational compound is naproxcinod, an NME and a first-
in-class CINOD (Cyclooxygenase-Inhibiting Nitric Oxide-Donating) anti-
inflammatory drug candidate developed for the relief of the signs and
symptoms of osteoarthritis (OA). In July 2010, the U.S. Food and Drug
Administration (FDA) provided a Complete Response Letter to the New Drug
Application (NDA) for naproxcinod stating that it does not approve the
naproxcinod application. The naproxcinod Marketing Authorization
Application (MAA) submitted by NicOx in December 2009 is currently under
review by the European Medicines Agency (EMA).

In addition to naproxcinod, NicOx’s pipeline includes several nitric oxide-
donating NMEs, which are in development internally and with partners,
including Merck & Co., Inc. and Bausch + Lomb, for the treatment of
hypertension, cardiometabolic diseases, eye diseases and dermatological
diseases.

NicOx S.A. is headquartered in France and is listed on Euronext Paris
(Compartment B: Mid Caps).

This press release contains certain forward-looking statements. Although
the Company believes its expectations are based on reasonable assumptions,
these forward-looking statements are subject to numerous risks and
uncertainties, which could cause actual results to differ materially from
those anticipated in the forward-looking statements. For a discussion of
risks and uncertainties which could cause actual results, financial
condition, performance or achievements of NicOx S.A. to differ from those
contained in the forward-looking statements, please refer to the Risk
Factors (“Facteurs de Risque”) section of the Document de Reference filed
with the AMF, which is available on the AMF website (http://www.amf-
france.org) or on NicOx S.A.’s website (http://www.nicox.com).

+-------------------------+-+--------------------+-+---------+
|                         | |For the period ended| |         |
|                         | |June 30,            | |         |
+-------------------------+-+--------------------+-+---------+
|                         | |2010                | |    2009 |
+-------------------------+-+--------------------+-+---------+
|                         | |(in thousands of EUR| |         |
|                         | |except for per share| |         |
|                         | |data)               | |         |
+-------------------------+-+--------------------+-+---------+
|Revenues                 | |7,423               | |   1,119 |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Cost of sales            | |-                   | |    (75) |
|                         | |                    | |         |
|                         | |                    | |         |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Research and development | |(26,924)            | |(25,031) |
|expenses                 | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Administrative expenses  | |(3,214)             | | (3,234) |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Selling expenses         | |(6,241)             | | (4,403) |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Other income             | |1,600               | |   3,130 |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Operating loss           | |(27,356)            | |(28,494) |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Finance income           | |183                 | |   1 388 |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Finance expense          | |(70)                | |    (54) |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Loss before income tax   | |(27,243)            | |(27,160) |
|                         | |                    | |         |
|                         | |                    | |         |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Income tax expense       | |(257)               | |    (77) |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Net loss of the          | |(27,500)            | |(27,237) |
|period                   | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Exchange differences on  | |(38)                | |     (1) |
|translation of foreign   | |                    | |         |
|operations               | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Other comprehensive      | |(38)                | |     (1) |
|income (loss) for the    | |                    | |         |
|period, net of tax       | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Total comprehensive      | |(27,538)            | |(27,238) |
|income (loss) for the    | |                    | |         |
|period, net of tax       | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Attributable to:         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|- Equity holders of the  | |(27,538)            | |(27,238) |
|parent                   | |                    | |         |
|                         | |                    | |         |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|- Non-controlling        | |-                   | |       - |
|interests                | |                    | |         |
|                         | |                    | |         |
|                         | |                    | |         |
+-------------------------+-+--------------------+-+---------+
|Basic and diluted loss   | |(0.38)              | |  (0.57) |
|per share attributable to| |                    | |         |
|equity holders of the    | |                    | |         |
|parent                   | |                    | |         |
+-------------------------+-+--------------------+-+---------+

+----------------------+--------------------+-+------------------+--------+
|                      |   June 30, 2010    | |December 31, 2009 |        |
+----------------------+--------------------+-+------------------+--------+
|                      |(in thousands       | |                  |        |
|                      | of EUR)            | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|ASSETS                |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Non-current assets    |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Property, plant &     |              2,782 | |                  |  2,772 |
|equipment             |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Intangible assets     |                794 | |                  |    797 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Government subsidies  |                936 | |                  |    477 |
|receivable            |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Other financial assets|                267 | |                  |    238 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Deferred income tax   |                  - | |                  |    156 |
|assets                |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Total non-current     |              4,779 | |                  |  4,440 |
|assets                |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Current assets        |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Government subsidies  |              3,263 | |                  |  2,597 |
|receivable            |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Other current assets  |                988 | |                  |  1,329 |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Prepaid expenses      |              1,213 | |                  |    784 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Cash and cash         |            128,448 | |                  |148,275 |
|equivalents           |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Total current assets  |            133,912 | |                  |152,985 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|TOTAL ASSETS          |            138,691 | |                  |157,425 |
+----------------------+--------------------+-+------------------+--------+
|EQUITY AND LIABILITIES|                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Common shares         |             14,505 | |                  | 14,434 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Other reserves        |            103,046 | |                  |128,444 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Non-controlling       |                  - | |                  |      - |
|interests             |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Total Equity          |            117,551 | |                  |142,878 |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Non-current           |                    | |                  |        |
|liabilities           |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Other contingencies   |              4,369 | |                  |  4,069 |
|and liabilities       |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Deferred income tax   |                 98 | |                  |     91 |
|liabilities           |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Finance lease         |                 44 | |                  |      6 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Total non-current     |              4,511 | |                  |  4,166 |
|liabilities           |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Current liabilities   |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Other contingencies   |              1,890 | |                  |      - |
|and liabilities       |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Finance lease         |                 18 | |                  |      7 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Trade payables        |             12,034 | |                  |  6,136 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Current income tax    |                  - | |                  |     19 |
|payable               |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Social security and   |              2,504 | |                  |  3,909 |
|other taxes           |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Other liabilities     |                183 | |                  |    310 |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Total current         |             16,629 | |                  | 10,381 |
|liabilities           |                    | |                  |        |
|                      |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|TOTAL EQUITY AND      |            138,691 | |                  |157,425 |
|LIABILITIES           |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|NicOx S.A.,           |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
|Les Taissounières-Bât |                    | |                  |        |
|HB4 - 1681 route des  |                    | |                  |        |
|Dolines - BP313, 06906|                    | |                  |        |
|Sophia Antipolis cedex|                    | |                  |        |
|France.               |                    | |                  |        |
|Tel.                  |                    | |                  |        |
|+33 (0)4 9724 53 00   |                    | |                  |        |
|Fax                   |                    | |                  |        |
|+33 (0)497 24 53 99   |                    | |                  |        |
+----------------------+--------------------+-+------------------+--------+
+----------------------+--------------------+-+------------------+--------+

This information is provided by HUGIN

Filed Under: Healthcare Business, Prescription Drugs and Pharmacy

TomoTherapy Announces Second Quarter Financial Results

Posted on July 29, 2010 Written by Editor

SOURCE: TomoTherapy

Reports $47.6 Million of Revenue; $42.5 Million of Equipment Orders

MADISON, WI–(Marketwire – July 29, 2010) – TomoTherapy Incorporated (NASDAQ: TOMO), producer of the Hi*Art® treatment system and other products for
advanced radiation therapy, today released financial results for the second
quarter ended June 30, 2010.

Second Quarter Results

Second quarter 2010 revenue was $47.6 million, an increase of 16% from
$41.1 million in the second quarter of 2009. Revenue from product sales
was $34.2 million in the second quarter of 2010, up 12% compared to the
same quarter last year, and revenue from service and other was $13.4
million in the second quarter of 2010, up 27% compared to the same quarter
last year. The company reported a second quarter 2010 loss from operations
of $8.4 million, a 14% decrease from the $9.7 million loss from operations
for the same period last year.

The company incurred a net loss attributable to shareholders of $6.9
million, or $0.13 per share, for the second quarter of 2010, compared to a
net loss of $7.1 million, or $0.14 per share, for the second quarter of
2009.

As of June 30, 2010, the company had $145.7 million of cash, cash
equivalents and short-term investments, representing a $3.0 million
decrease from March 31, 2010, and minimal debt. During the quarter, there
were no borrowings against the company’s credit facility.

As of June 30, 2010, the company had a revenue backlog of $139.2 million, a
4% increase from the $134.2 million backlog as of March 31, 2010. The
backlog includes $42.5 million of equipment orders received during the
second quarter of 2010. One order was removed from backlog during the
second quarter due to uncertainty surrounding the project schedule.
Backlog includes only firm orders that the company believes are likely to
ship within the next two years. Backlog does not include any revenue from
service contracts, which represents a growing portion of the company’s
overall revenue.

“Our second quarter financial results were in line with our internal
expectations and represent a solid improvement over the same period last
year,” said Fred Robertson, TomoTherapy’s CEO. “In addition, we are
pleased with the 13% increase in revenue from the first quarter of 2010 and
the $5.0 million net increase to our backlog since March 31, 2010.
Specifically, we realized a rise in new orders, which we believe reflects
the strength of our new product offerings as well as enhanced global sales
and marketing efforts. On the service side, revenue increased
significantly compared to the same period last year, due to continued
growth in the number of service contracts, and we again achieved strong
customer service rankings. We continue to take steps to enhance our
financial performance and drive toward profitability while still investing
in key product development initiatives. Importantly, our capital position
remained strong in the quarter despite the continuing challenges in the
global economy.”

Six-Month Results

For the six months ended June 30, 2010, revenue was $89.7 million, a 25%
increase from $71.7 million for the six months ended June 30, 2009.
Revenue from product sales was $63.5 million in the first half of 2010, up
23% compared to the first half of 2009, and revenue from service and other
was $26.2 million in the first half of 2010, up 31% compared to the first
half of 2009.

The company reported a year-to-date 2010 loss from operations of $14.4
million, a 39% decrease from the loss from operations of $23.7 million
during the first six months of 2009. The company incurred a net loss
attributable to shareholders of $11.6 million, or $0.22 per share, for the
six months ended June 30, 2010, compared to a net loss attributable to
shareholders of $20.1 million, or $0.40 per share, for the same period last
year.

During the first half of 2010, the company’s cash, cash equivalents and
short-term investments decreased by $8.7 million. The company’s backlog
increased by $3.4 million during the first half of 2010, from $135.8 as of
December 31, 2009 to $139.2 million as of June 30, 2010.

Outlook

The company reaffirms its revenue and earnings guidance for full-year 2010.
Management still expects 2010 revenue to be comparable to 2009 revenue of
$160 million to $180 million, with a net loss attributable to shareholders
in the range of $0.65 to $0.85 per share. Consistent with prior years,
management is not providing specific quarterly guidance. However, similar
to 2009, management anticipates that the timing of expected customer
deliveries will result in 2010 second half revenues being heavily weighted
toward the fourth quarter.

Robertson concluded, “Given our second quarter performance and expectations
for the balance of the year, we remain on track to deliver results in line
with our previously announced guidance. While there is still uncertainty
with respect to macro conditions, particularly in Europe, we are encouraged
by recent performance in North America and Asia. We also continue to make
good progress on several key initiatives, including diversifying our
product line-up and expanding our business both in North America and other
global markets. With significant interest in our TomoDirect™ and
TomoHD™ offerings, entry into new markets, and greater access to many
hospitals through new strategic Group Purchasing Organization agreements,
we believe TomoTherapy is well positioned to capitalize on the substantial
opportunity in the growing global radiation therapy market.”

Investor Conference Call

TomoTherapy will conduct a conference call regarding its second quarter
2010 results at 5:00 p.m. EDT today, July 29, 2010 (4:00 p.m. CDT). To
hear a live Webcast or replay of the call, visit the Investor Relations page at TomoTherapy.com, where it will
be archived for two weeks. To access the call via telephone, dial
1-800-260-8140 from inside the United States or
1-617-614-3672 from outside the United States, and enter pass code
35309628. The replay can be accessed by dialing 1-888-286-8010 from inside
the United States or 1-617-801-6888 from outside the United States and
entering pass code 64325104. The telephone replay will be available
through 11:59 p.m. CDT on August 5, 2010.

About TomoTherapy Incorporated

TomoTherapy Incorporated develops, markets and sells advanced radiation
therapy solutions that can be used to efficiently treat a wide variety of
cancers, from the most common to the most complex. The ring gantry-based
TomoTherapy® platform combines integrated CT imaging with conformal
radiation therapy to deliver sophisticated radiation treatments with speed
and precision while reducing radiation exposure to surrounding healthy
tissue. TomoTherapy’s suite of solutions includes its flagship Hi*Art®
treatment system, which has been used to deliver more than three million
CT-guided, helical intensity-modulated radiation therapy (IMRT) treatment
fractions; the TomoHD™ treatment system, designed to enable cancer centers
to treat a broader patient population with a single device; and the
TomoMobile™ relocatable radiation therapy solution, designed to improve
access and availability of state-of-the-art cancer care. TomoTherapy’s
stock is traded on the NASDAQ Global Select Market under the symbol “TOMO.”
To learn more about TomoTherapy, please visit TomoTherapy.com.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Statements
concerning market acceptance of the company’s technology; growth drivers;
the company’s orders, revenue, backlog or earnings growth; future financial
results and any statements using the terms “should,” “believe,” “outlook,”
“expect,” “anticipate” or similar statements are forward-looking statements
that involve risks and uncertainties that could cause the company’s actual
results to differ materially from those anticipated. Such risks and
uncertainties include: demand for the company’s products; impact of sales
cycles and competitive products and pricing; the effect of economic
conditions and currency exchange rates; the company’s ability to develop
and commercialize new products; its reliance on sole or limited-source
suppliers; its ability to increase gross margins; the company’s ability to
meet U.S. Food and Drug Administration (FDA) and other regulatory agency
product clearance and compliance requirements; the possibility that
material product liability claims could harm future revenue or require the
company to pay uninsured claims; the company’s ability to protect its
intellectual property; the impact of managed care initiatives, other health
care reforms and/or third-party reimbursement levels for cancer care;
potential loss of key distributors or key personnel; risk of interruptions
to the company’s operations due to terrorism, disease or other events
beyond the company’s control; and the other risks listed from time to time
in the company’s filings with the U.S. Securities and Exchange Commission,
which by this reference are incorporated herein. TomoTherapy assumes no
obligation to update or revise the forward-looking statements in this
release because of new information, future events or otherwise.

                TOMOTHERAPY INCORPORATED AND SUBSIDIARIES

              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                 (In thousands, except per share data)
                                (unaudited)



                                 Three Months Ended     Six Months Ended
                                      June 30,              June 30,
                                --------------------  --------------------
                                  2010       2009       2010       2009
                                ---------  ---------  ---------  ---------

Revenue:
 Product                        $  34,242  $  30,552  $  63,471  $  51,685
 Service and other                 13,388     10,528     26,239     20,018
                                ---------  ---------  ---------  ---------
  Total revenue                    47,630     41,080     89,710     71,703
                                ---------  ---------  ---------  ---------
Cost of revenue:
 Product                           17,354     14,253     30,139     25,998
 Service and other                 17,818     18,312     34,509     34,651
                                ---------  ---------  ---------  ---------
  Total cost of revenue            35,172     32,565     64,648     60,649
                                ---------  ---------  ---------  ---------
   Gross profit                    12,458      8,515     25,062     11,054
                                ---------  ---------  ---------  ---------
Operating expenses:
  Research and development          8,960      7,020     16,500     12,869
  Selling, general and
   administrative                  11,910     11,224     22,944     21,876
                                ---------  ---------  ---------  ---------
   Total operating expenses        20,870     18,244     39,444     34,745
                                ---------  ---------  ---------  ---------
Loss from operations               (8,412)    (9,729)   (14,382)   (23,691)
Other income (expense):
  Interest income                     416        695        947      1,392
  Interest expense                    (12)       (15)       (23)       (29)
  Other expense, net                 (578)      (107)    (1,026)      (363)
                                ---------  ---------  ---------  ---------
   Total other income (expense)      (174)       573       (102)     1,000
                                ---------  ---------  ---------  ---------
Loss before income tax and
 noncontrolling interests          (8,586)    (9,156)   (14,484)   (22,691)
  Income tax expense (benefit)         10       (318)       (34)      (418)
                                ---------  ---------  ---------  ---------
Net loss                           (8,596)    (8,838)   (14,450)   (22,273)
  Noncontrolling interests          1,673      1,715      2,849      2,151
                                ---------  ---------  ---------  ---------
Net loss attributable to
 shareholders                   $  (6,923) $  (7,123) $ (11,601) $ (20,122)
                                =========  =========  =========  =========

Weighted-average common shares
 outstanding -
 basic and diluted                 51,713     50,592     51,640     50,592
                                =========  =========  =========  =========

Loss per common share - basic
 and diluted                    $   (0.13) $   (0.14) $   (0.22) $   (0.40)
                                =========  =========  =========  =========





                TOMOTHERAPY INCORPORATED AND SUBSIDIARIES

                  CONDENSED CONSOLIDATED BALANCE SHEETS
                              (In thousands)
                                (unaudited)


                                                    June 30,   December 31,
                                                      2010         2009
                                                  ------------ ------------

                                  ASSETS
Cash and cash equivalents                         $     99,240 $     76,108
Short-term investments                                  46,434       78,225
Receivables, net                                        32,915       33,559
Inventories, net                                        53,204       47,669
Prepaid expenses and other current assets                5,507        3,633
                                                  ------------ ------------
 Total current assets                                  237,300      239,194
Property and equipment, net                             18,198       18,628
Other non-current assets, net                           10,588       12,429
                                                  ------------ ------------
 TOTAL ASSETS                                     $    266,086 $    270,251
                                                  ============ ============

                           LIABILITIES AND EQUITY
Accounts payable                                  $     11,896 $      6,269
Accrued expenses                                        20,273       19,588
Accrued warranty                                         3,776        4,173
Deferred revenue                                        31,506       34,145
Customer deposits                                       11,145       13,266
                                                  ------------ ------------
 Total current liabilities                              78,596       77,441
Other non-current liabilities                            4,404        5,475
                                                  ------------ ------------
 TOTAL LIABILITIES                                      83,000       82,916

Total shareholders' equity                             175,498      183,424
Noncontrolling interests                                 7,588        3,911
                                                  ------------ ------------
 TOTAL EQUITY                                          183,086      187,335

                                                  ------------ ------------
 TOTAL LIABILITIES AND EQUITY                     $    266,086 $    270,251
                                                  ============ ============

Filed Under: Healthcare Business

Non-Profit Aims to Reduce Needless DFW Deaths With Free Workplace CPR Training and Awareness Program

Posted on July 29, 2010 Written by Editor

SOURCE: Mission CPR

Mission CPR’s ‘Spend 45 Minutes, Save a Life’ Initiative Offers CPR Awareness and Basic Skills Training at No Cost to Business and Organization Groups of Any Size Throughout Dallas/Fort Worth in Attempt to Turn Bystanders Into ‘Bysavers’

KELLER, TX–(Marketwire – July 29, 2010) – In less time than it takes for a single lunch hour, employees can learn, for free, how to save a life through Cardiopulmonary Resuscitation (CPR). This because Dallas-based non-profit Mission CPR (www.MissionCPR.org) has launched its “Spend 45 Minutes, Save a Life” initiative offering workplace CPR awareness and basic skills training to area businesses and organizations completely free of charge. Mission CPR has launched this program as part of the American Heart Association’s overriding “CPR Anytime” campaign created to increase the incidence of bystander CPR by making training more accessible.

“A full 93.6 percent of sudden cardiac arrest victims die simply because the vast majority of those witnessing the arrest do not know how to perform CPR and are reluctant to even try,” says Jeff D. Hill, CEO of Mission CPR, whose own life was saved by CPR at age 3 and who has since saved a life using CPR through his work as an EMT. “Our organization aims to not only raise awareness about the vital importance of bystander CPR, but also actually save lives by providing local groups with basic, easily absorbed training in a convenient on-site workplace setting — at no cost to the employee, group member or organization.” 

“The session lasts only 45 minutes and very little time is needed to organize the presentation,” Hill underscores. “This program is an invaluable employee benefit that has nothing but upside for all involved — the company, employee, their families and the Dallas/Fort Worth community at large.”

At the age of 3, Hill’s own life was saved by bystander CPR. Left briefly unattended, he fell in a pool and drowned. Hill had no heartbeat and had stopped breathing completely. A visiting relative heard his mother screaming once she pulled Hill from the pool, and he jumped in to try to help. This relative had received CPR training years before and was unsure if he was “doing it right,” but he TRIED his best, revived Hill’s heartbeat, and kept him alive long enough until the EMS arrived to take over. This experience exemplifies why even the most basic understanding of CPR is important and how those skills can prove critical in an emergency situation.

Hill notes, “The reality is many people in distress that need CPR do not get the help because bystanders are not trained or are afraid to try. Indeed, in my prior work as a firefighter and EMT, most bystanders waited until we arrived to attempt CPR and, most often, it was too late. Even the most basic skills training can give someone the knowledge and confidence needed to attempt CPR until medical professionals arrive, and can mean the difference between life and death.”

In addition to its free “Spend 45 Minutes, Save a Life” training program, Mission CPR also offers interested and key employees full certification-based CPR and First Aid training at a reduced cost, with proceeds used to purchase additional American Heart Association CPR training kits to support and prolong the organization’s free training efforts. Mission CPR sessions are available for company meetings and conferences, “lunch and learns,” health fairs, benefits enrollment periods or any other time that best suits the business or organization. 

Interested parties may visit www.MissionCPR.org to learn more about Mission CPR’s free and reduced-fee certification programs. More information about the American Heart Association’s “CPR Anytime” campaign may be accessed online at http://www.trihealth.com/aus/srv/CPR_Anytime.aspx.

About Mission CPR
Based in Keller, Texas, Mission CPR is a non-profit organization dedicated to raising awareness about the vital importance of bystander CPR in both a local and nationwide effort to save lives. The organization provides free CPR awareness presentations and basic skills training, and reduced-cost CPR and First Aid certifications, to businesses and organizations of all types throughout the Dallas/Fort Worth region. Mission CPR is spearheaded by CPR recipient and survivor Jeff D. Hill who himself, as a former EMT, has saved the life of another using CPR. Contact Mission CPR at 817-509-0004 or [email protected], or learn more about the organization online at www.MissionCPR.org.

CONTACT:
Merilee Kern
Kern Communications
858-577-0206
Email Contact

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Filed Under: Healthcare Business

Patient News Publishing Awarded for Dental Marketing Excellency

Posted on July 29, 2010 Written by Editor

SOURCE: Patient News Publishing

HALIBURTON, ON–(Marketwire – July 29, 2010) – Patient News, a leading dental marketing company in the US and Canada, was recognized for its outstanding newsletter design and layout in the 22nd Annual Awards for Publication Excellence Competition (APEX). Judged by a panel of experienced writers and editors, the APEX 2010 awards are based on excellence in graphic design, editorial content, and the ability to achieve overall communications excellence. Despite an exceptionally intense competition with more than 3,700 entries, Patient News received an Award for Publication Excellency by Apex 2010 for Dr. Randy G. Fussell’s Fall 2009 dental marketing newsletter “Smile! Pass It on!”

“At Patient News we take great pride in our highly skilled editorial, design, and production teams who work together to create engaging, innovative, and personable patient marketing and potential patient marketing materials that speak directly to our clients’ targeted audience,” said Karen Galley, President of Patient News. “As the industry leader, our customized marketing methods are proven, reliable, professional, and diverse.”

Patient News offers a variety of innovative dental marketing products including dental email newsletters, patient newsletters, direct mail newsletters, dental postcards, patient referral cards and patient satisfaction surveys. All products are tailored to help achieve the specific goals of each client. With nearly 20 years of business and over 100 million newsletters and postcards later, Patient News provides health care specialists with measurably effective practice marketing. In addition to the APEX 2010 Award for Publication Excellency, Patient News has received a number of other awards, including Entrepreneur of the Year, Large Business of the Year, and the American Graphic Design Award.

Patient News has been producing dental marketing materials for almost 20 years in North America and the UK. For additional information on dental marketing from Patient News, call 800.667.0268 or visit www.patientnews.com. To read more on this topic, visit: http://www.patientnews.com/pressreleases/dental-marketing-excellency-award.html.

About Patient News:
 
Patient News is North America’s most comprehensive and innovative dental marketing solutions provider. Founded in Canada in 1992, the company produces award-winning healthcare and dental marketing products in Canada, the United States, and the United Kingdom. The company has been named a Top 100 employer for four consecutive years, and has officially added environmental sustainability to its core values within the company vision.
Contact:

Joanne Bishop
Vice-President
Patient News
800-667-0268 x 223

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Filed Under: Healthcare Business, Hospitals and Health Systems

Healthcare Executives to Share Human Resources Wisdom at Upcoming Fifth Annual Kenexa World Conference

Posted on July 29, 2010 Written by Editor

SOURCE: Kenexa

HR Experts From Baxter Healthcare, Lee Memorial Health System, Tenet Healthcare Corporation to Speak at Transformative Event

WAYNE, PA–(Marketwire – July 29, 2010) –  Kenexa (NASDAQ: KNXA), a global provider of business solutions for human resources, today announced that a trio of executives from global and regional healthcare-related companies will share their unique perspectives on talent acquisition and employee engagement during the upcoming 2010 Kenexa World Conference. Gina Nardone, Manager of Talent Acquisition for Baxter Healthcare; Kristy Rigot, System Director of Human Resources for Lee Memorial Health System; and Cathy Fraser, Senior Vice President of Human Resources for Tenet Healthcare Corporation will add their voices to the conference, sharing best practices that are changing the face of HR.

In a session titled “The Effective Great Unknown: Global Expansion in a Decentralized Talent Acquisition Organization,” Nardone will focus on Baxter’s global implementation of Kenexa Recruiter® BrassRing, highlighting the company’s specific challenges, including the initial absence of a strong global talent acquisition presence across the organization. Nardone will explain how Baxter has achieved 85% implementation across the organization, with a goal of 100% by the end of 2011. Recommendations on conducting Delta Workshops, language implementation, dealing with HR turnover, working with limited budgets and post-implementation involvement also will be discussed.

Improving recruitment productivity is not about doing things faster and harder. It is about streamlining work process, standardizing, modifying behaviors, optimizing technology and staying focused on key recruitment workforce metrics. During her presentation of “Soar with the Eagles: Improving Recruitment Productivity,” Rigot will provide an overview of Lee Memorial Health System’s focus on performance improvement strategies and goals based on continuous analysis of candidate pipeline, workflow and performance metrics.

In a presentation titled “Achieving Impact by ‘Under-thinking’ Traditional HR,” Fraser will share how textbook HR does not always make sense, describing different thinking in the traditional towers of talent management, performance management, employee engagement, and anti-unionization, tuned at achieving impact. During this intriguing session, Fraser will highlight the importance of context and organizational readiness, with the backdrop of Tenet Healthcare’s business turnaround.

The fifth annual Kenexa World Conference promises to transform HR through outliers, helping organizations move beyond potential to drive business performance. To reveal true human potential to improve business results, companies must identify and nurture high performers and create the right environment for them to thrive. Attendees of the conference will come to understand how the right individuals in the right environment lead to ultimate success.

Happening Tuesday, September 21 through Thursday, September 23, 2010, in Philadelphia, Pa., the Kenexa World Conference will give companies the information they need to transform HR and move from potential to performance. The 2010 Kenexa World Conference will be held at The Sheraton Society Hill Hotel, One Dock Street, Philadelphia, Pa. For more information or to register, visit www.kenexa.com.

About Kenexa
Kenexa® provides business solutions for human resources. We help global organizations multiply business success by identifying the best individuals for every job and fostering optimal work environments for every organization. For more than 20 years, Kenexa has studied human behavior and team dynamics in the workplace, and has developed the software solutions, business processes and expert consulting that help organizations impact positive business outcomes through HR. Kenexa is the only company that offers a comprehensive suite of unified products and services that support the entire employee lifecycle from pre-hire to exit. Additional information about Kenexa and its global products and services can be accessed at www.kenexa.com.

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Filed Under: Healthcare Business

CONMED Corporation Announces Second Quarter 2010 Financial Results

Posted on July 29, 2010 Written by Editor

SOURCE: CONMED Corporation

Sales Increase 10.0%; GAAP EPS Quintuples; Non-GAAP EPS Grows 88%; Conference Call to Be Held at 10:00 a.m. ET Today

UTICA, NY–(Marketwire – July 29, 2010) – CONMED Corporation (NASDAQ: CNMD) today announced
financial results for the second quarter of 2010.

Sales for the second quarter ended June 30, 2010 were $181.1 million
compared to $164.6 million in the same quarter of 2009, an increase of 10
percent. GAAP diluted earnings per share were $0.25 compared to $0.05 in
the second quarter of 2009. Non-GAAP diluted earnings per share equaled
$0.32 compared to non-GAAP diluted earnings per share of $0.17 in the 2009
second quarter. As discussed below under “Use of Non-GAAP Financial
Measures,” the Company presents various non-GAAP financial measures in this
release. Investors should consider non-GAAP measures in addition to, and
not as a substitute for, or superior to, financial performance measures
prepared in accordance with GAAP. Please refer to the attached
reconciliation between GAAP and non-GAAP financial measures.

For the six months ended June 30, 2010, sales were $357.5 million compared
to $328.6 million in the first six months of 2009, an increase of 8.8
percent. GAAP diluted earnings per share were $0.50 for year-to-date June
2010 compared to $0.20 in the same period of 2009. Non-GAAP diluted
earnings per share were $0.60 for the 2010 six-month period compared to
$0.36 in 2009.

“The results of the 2010 second quarter improved upon the positive
performance of the first quarter of the year,” commented Mr. Joseph J.
Corasanti, President and Chief Executive Officer. “Single-use product
sales, once again, produced solid year-over-year growth, while capital
product sales experienced significant growth, 18.9 percent in constant
currency, over the second quarter of last year. This overall sales growth,
together with the continued realization of cost efficiencies from ongoing
restructuring initiatives, resulted in substantially improved earnings
compared to a year ago.”

International sales in the second quarter of 2010 were $87.9 million,
representing 48.5% of total sales, and $172.9 million for the six-months
ended June 30, 2010. Favorable currency exchange rates in 2010 led to an
increase in sales of $3.2 million compared to exchange rates in the second
quarter of 2009, and $11.1 million for the six-month period of 2010.

Cash provided from operating activities outpaced net income in the second
quarter of 2010 and amounted to $18.5 million, or 10.2 percent of sales.
The cash was used to repay debt and repurchase the Company’s common stock,
as further explained below.

Outlook

Mr. Corasanti added, “We believe that the results of the second quarter of
2010, as well as what we are hearing from our sales force, indicates that
our customers are returning to historical purchasing trends as compared to
the instability experienced in 2009 due to the global economic crisis.
Consequently, we expect that sales in the third quarter of 2010 will
experience a normal seasonal sequential reduction from the second quarter
2010 and that the sales of the fourth quarter of 2010 should be the
strongest of the year, as we’ve seen historically. For the third quarter
of 2010, we expect sales to approximate $174 – $179 million with non-GAAP
diluted earnings per share of $0.25 – $0.30. For the full year of 2010, we
are reiterating our previously communicated guidance, with sales estimated
to be $715 – $725 million and non-GAAP diluted earnings per share of $1.20
– $1.30.”

The sales and earnings forecasts have been developed using July 2010
currency exchange rates and take into account the currency hedges entered
into by the Company. We estimate that 80% of the currency exposure is
hedged for the third quarter 2010 and 60% hedged for the fourth quarter.

The non-GAAP estimates for the year and the third quarter exclude the
additional non-cash interest expense required by recently issued Financial
Accounting Standards Board (“FASB”) guidance, the loss on repurchase and
retirement of our Convertible Notes and all of the manufacturing and
administrative restructuring costs expected to be incurred in 2010.

Restructuring costs

During the second quarter of 2010, the Company consolidated various
administrative functions in its CONMED Linvatec division and continued the
transfer of additional product lines to its Mexican manufacturing facility.
Expenses associated with these activities, including severance and
relocation costs, amounted to $2.0 million in the second quarter of 2010
and $2.5 million for the six months ended June 30, 2010. These charges are
included in the GAAP earnings per share set forth above and are excluded
from the non-GAAP results. CONMED expects additional restructuring charges
for the remainder of 2010 to approximate $1.5 million; these costs are
excluded from non-GAAP earnings estimates.

Stock and bond repurchase

During the second quarter of 2010, utilizing the Company’s current cash
flow, CONMED repurchased approximately 475,000 shares of its common stock,
amounting to $9.5 million, and also repurchased and retired $3.0 million
face value of its 2.5 percent Convertible Notes at a discount of
approximately 3 percent. The remaining availability under the Board of
Directors’ authorization for stock repurchases currently amounts to $37.3
million, and additional shares under this authority may be repurchased
using the Company’s cash flow.

Convertible note interest expense

As previously disclosed, and in accordance with guidance recently issued by
the FASB, the Company is now required to record non-cash interest expense
related to its convertible notes to bring the effective interest rate to a
level approximating that of a non-convertible note of similar size and
tenor. In the second quarters of 2010 and 2009, CONMED recorded additional
non-cash pre-tax interest charges of $1.1 million and $1.0 million,
respectively. For the first six-months of 2010 and 2009, such charges
amounted to $2.1 million in each period. These charges are included in the
GAAP earnings per share set forth above, and excluded from the non-GAAP
amounts.

Accounts receivable financing — change in accounting

As previously disclosed, recently issued FASB guidance requires that
CONMED’s accounting for its accounts receivable financing facility be
changed as of January 1, 2010. Previously, the sale of accounts receivable
to a bank removed the sold receivables from the Company’s balance sheet.
In 2010 and future years, the new guidance requires that the receivables
remain on CONMED’s balance sheet and that the financing transaction be
recorded as a liability. Usage of the facility amounted to $31.0 million
at June 30, 2010. Accordingly, as of June 30, 2010, compared to the
previous off-balance sheet accounting, accounts receivable is $31.0 million
greater because the full amount of receivables remains on the balance
sheet, and the current portion of long-term debt includes the $31.0 million
usage of the receivable facility. Further, cash provided by operating
activities on the June 30, 2010 statement of cash flows is reduced by $29.0
million as a result of the change in accounting. See the attached
reconciliation of cash flow provided by operating activities. This
accounting change had no effect on the consolidated statement of income.

Use of Non-GAAP Financial Measures

Management has disclosed financial measurements in this press announcement
that present financial information that is not in accordance with Generally
Accepted Accounting Principles (“GAAP”). These measurements are not a
substitute for GAAP measurements, although Company management uses these
measurements as aids in monitoring the Company’s on-going financial
performance from quarter-to-quarter and year-to-year on a regular basis,
and for benchmarking against other medical technology companies. Non-GAAP
net income and non-GAAP earnings per share measure the income of the
Company excluding unusual credits or charges that are considered by
management to be outside of the normal on-going operations of the Company.
Management uses and presents non-GAAP net income and non-GAAP earnings per
share because management believes that in order to properly understand the
Company’s short and long-term financial trends, the impact of unusual items
should be eliminated from on-going operating activities. These adjustments
for unusual items are derived from facts and circumstances that vary in
frequency and impact on the Company’s results of operations. Management
uses non-GAAP net income and non-GAAP earnings per share to forecast and
evaluate the operational performance of the Company as well as to compare
results of current periods to prior periods on a consistent basis.
Non-GAAP financial measures used by the Company may be calculated
differently from, and therefore may not be comparable to, similarly titled
measures used by other companies. Investors should consider non-GAAP
measures in addition to, and not as a substitute for, or superior to,
financial performance measures prepared in accordance with GAAP.

Conference call

The Company will webcast its second quarter 2010 conference call live over
the Internet at 10:00 a.m. Eastern Time on Thursday, July 29, 2010. This
webcast can be accessed from CONMED’s web site at www.conmed.com. Replays
of the call will be made available through August 6, 2010.

CONMED Profile

CONMED is a medical technology company with an emphasis on surgical devices
and equipment for minimally invasive procedures and patient monitoring.
The Company’s products serve the clinical areas of arthroscopy, powered
surgical instruments, electrosurgery, cardiac monitoring disposables,
endosurgery and endoscopic technologies. They are used by surgeons and
physicians in a variety of specialties including orthopedics, general
surgery, gynecology, neurosurgery and gastroenterology. Headquartered in
Utica, New York, the Company’s 3,300 employees distribute its products
worldwide from several manufacturing locations.

Forward-Looking Information

This press release contains forward-looking statements based on certain
assumptions and contingencies that involve risks and uncertainties. The
forward-looking statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and relate to the
Company’s performance on a going-forward basis. The forward-looking
statements in this press release involve risks and uncertainties which
could cause actual results, performance or trends, to differ materially
from those expressed in the forward-looking statements herein or in
previous disclosures. The Company believes that all forward-looking
statements made by it have a reasonable basis, but there can be no
assurance that management’s expectations, beliefs or projections as
expressed in the forward-looking statements will actually occur or prove to
be correct. In addition to general industry and economic conditions,
factors that could cause actual results to differ materially from those
discussed in the forward-looking statements in this press release include,
but are not limited to: (i) the failure of any one or more of the
assumptions stated above, to prove to be correct; (ii) the risks relating
to forward-looking statements discussed in the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2009; (iii) cyclical
purchasing patterns from customers, end-users and dealers; (iv) timely
release of new products, and acceptance of such new products by the market;
(v) the introduction of new products by competitors and other competitive
responses; (vi) the possibility that any new acquisition or other
transaction may require the Company to reconsider its financial assumptions
and goals/targets; and/or (vii) the Company’s ability to devise and execute
strategies to respond to market conditions.

                                 CONMED CORPORATION
                            Second Quarter Sales Summary

                                  Three Months Ended June 30,
                    ------------------------------------------------------

                                                                Constant
                                                                Currency
                         2009          2010       Growth         Growth
                    ------------- ------------- ------------  ------------
                           (in millions)
Arthroscopy
   Single-use       $        46.0 $        54.4         18.3%         15.4%
   Capital                   15.6          20.5         31.4%         28.8%
                    ------------- ------------- ------------  ------------
                             61.6          74.9         21.6%         18.8%
                    ------------- ------------- ------------  ------------

Powered Surgical
 Instruments
   Single-use                19.1          19.1          0.0%         -2.6%
   Capital                   14.4          16.6         15.3%         13.2%
                    ------------- ------------- ------------  ------------
                             33.5          35.7          6.6%          4.2%
                    ------------- ------------- ------------  ------------

Electrosurgery
   Single-use                17.3          18.2          5.2%          4.0%
   Capital                    5.4           5.8          7.4%          5.6%
                    ------------- ------------- ------------  ------------
                             22.7          24.0          5.7%          4.4%
                    ------------- ------------- ------------  ------------

Endoscopic
 Technologies
   Single-use                12.5          11.9         -4.8%         -6.4%
                    ------------- ------------- ------------  ------------
Endosurgery
   Single-use and
    reposable                17.3          17.1         -1.2%         -1.7%
                    ------------- ------------- ------------  ------------
Patient Care
   Single-use                17.0          17.5          2.9%          2.4%
                    ------------- ------------- ------------  ------------

Total
   Single-use and
    reposable               129.2         138.2          7.0%          5.1%
   Capital                   35.4          42.9         21.2%         18.9%
                    ------------- ------------- ------------  ------------
                    $       164.6 $       181.1         10.0%          8.1%
                    ============= ============= ============  ============




                                  CONMED CORPORATION
                                Six-Month Sales Summary

                                  Six Months Ended June 30,
                    ------------------------------------------------------

                                                                Constant
                                                                Currency
                         2009          2010        Growth        Growth
                    ------------- ------------- ------------  ------------
                           (in millions)
Arthroscopy
   Single-use       $        92.8 $       109.3         17.8%         13.0%
   Capital                   32.6          37.8         16.0%         12.6%
                    ------------- ------------- ------------  ------------
                            125.4         147.1         17.3%         12.9%
                    ------------- ------------- ------------  ------------

Powered Surgical
 Instruments
   Single-use                37.2          39.3          5.6%          0.0%
   Capital                   29.1          31.4          7.9%          4.1%
                    ------------- ------------- ------------  ------------
                             66.3          70.7          6.6%          1.8%
                    ------------- ------------- ------------  ------------

Electrosurgery
   Single-use                34.3          35.3          2.9%          0.9%
   Capital                   10.8          11.8          9.3%          6.5%
                    ------------- ------------- ------------  ------------
                             45.1          47.1          4.4%          2.2%
                    ------------- ------------- ------------  ------------

Endoscopic
 Technologies
   Single-use                24.5          23.7         -3.3%         -5.7%
                    ------------- ------------- ------------  ------------
Endosurgery
   Single-use and
    reposable                31.8          34.2          7.5%          5.7%
                    ------------- ------------- ------------  ------------
Patient Care
   Single-use                35.5          34.7         -2.3%         -3.1%
                    ------------- ------------- ------------  ------------

Total
   Single-use and
    reposable               256.1         276.5          8.0%          4.6%
   Capital                   72.5          81.0         11.7%          8.4%
                    ------------- ------------- ------------  ------------
                    $       328.6 $       357.5          8.8%          5.4%
                    ============= ============= ============  ============ 



                            CONMED CORPORATION
                    CONSOLIDATED STATEMENTS OF INCOME
                  (in thousands except per share amounts)
                                (unaudited)

                         Three months ended         Six months ended
                              June 30,                  June 30,
                       --------------------       --------------------
                         2009         2010          2009         2010
                       --------     --------      --------     --------

Net sales              $164,569     $181,086      $328,631     $357,451

Cost of sales            83,559       86,411       168,343      170,414
Cost of sales, other
 - Note A                 3,698          992         6,624        1,559
                       --------     --------      --------     --------

Gross profit             77,312       93,683       153,664      185,478
                       --------     --------      --------     --------

Selling and
 administrative          64,147       71,494       126,000      142,046
Research and
 development              7,396        6,441        15,885       14,123
Other expense (income)
 - Note B                   734          970          (602)         970
                       --------     --------      --------     --------
                         72,277       78,905       141,283      157,139
                       --------     --------      --------     -------- 

Income from
 operations               5,035       14,778        12,381       28,339

Gain (loss) on early
 extinguishment of debt       -          (79)        1,083         (79)

Amortization of debt
 discount                 1,013        1,056         2,058        2,108

Interest expense          1,767        1,771         3,255        3,520
                       --------     --------      --------     --------

Income before income
 taxes                    2,255       11,872         8,151       22,632

Provision for income
 taxes                      846        4,566         2,257        8,007
                       --------     --------      --------     --------

Net income             $  1,409     $  7,306      $  5,894     $ 14,625
                       ========     ========      ========     ========

Per share data:

  Net Income
    Basic              $    .05     $    .25      $    .20    $    .50
    Diluted                 .05          .25           .20         .50

  Weighted average
   common shares
    Basic                29,056       29,100        29,043      29,125
    Diluted              29,082       29,295        29,071      29,342

Note A — Included in cost of sales, other in the three and six months
ended June 30, 2009 are $3.7 million and $6.6 million, respectively, in
costs related to the startup of a new manufacturing facility in Chihuahua,
Mexico and the consolidation of two of the Company’s three Utica, New York
area manufacturing facilities. Included in cost of sales, other in the
three and six months ended June 30, 2010 are $1.0 million and $1.6 million,
respectively, related to the moving of additional product lines to the
manufacturing facility in Chihuahua, Mexico.

Note B — Included in other expense (income) in the three months ended June
30, 2009 is $0.7 million related to the consolidation of the Company’s
distribution activities. Included in other expense (income) in the six
months ended June 30, 2009 is a non-cash net pre-tax pension gain of $1.9
million and $1.3 million in costs related to the consolidation of the
Company’s distribution activities. Included in other expense (income) in
the three and six months ended June 30, 2010 is $1.0 million related to the
consolidation of various administrative functions in our orthopedic
division.


                            CONMED CORPORATION
                    CONSOLIDATED CONDENSED BALANCE SHEETS
                               (in thousands)
                                (unaudited)
                                   ASSETS

                                        December 31,    June 30,
                                            2009          2010
                                         ----------    ----------
Current assets:
  Cash and cash equivalents              $   10,098    $    8,490
  Accounts receivable, net                  126,162       142,801
  Inventories                               164,275       170,816
  Deferred income taxes                      14,782        13,764
  Other current assets                       10,293        13,125
                                         ----------    ----------
    Total current assets                    325,610       348,996

Property, plant and equipment, net          143,502       142,070
Deferred income taxes                         1,953         2,002
Goodwill                                    290,505       295,111
Other intangible assets, net                190,849       192,971
Other assets                                  5,994         5,595
                                         ----------    ----------
    Total assets                         $  958,413    $  986,745
                                         ==========    ==========

                     LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
  Current portion of long-term debt       $   2,174    $   33,208
  Other current liabilities                  76,933        73,524
                                         ----------    ----------
    Total current liabilities                79,107       106,732

Long-term debt                              182,195       170,366
Deferred income taxes                        97,916       107,091
Other long-term liabilities                  22,680        24,164
                                         ----------    ----------
    Total liabilities                       381,898       408,353
                                         ----------    ----------

Shareholders' equity:
  Capital accounts                          263,550       256,911
  Retained earnings                         325,370       339,362
  Accumulated other comprehensive
   income (loss)                            (12,405)      (17,881)
                                         ----------    ----------
    Total shareholders' equity              576,515       578,392
                                         ----------    ----------

    Total liabilities and shareholders'
     equity                              $  958,413    $  986,745
                                         ==========    ==========





                             CONMED CORPORATION
               CONSOLIDATED CONDENSED STATEMENT OF CASH FLOWS
                               (in thousands)
                                (unaudited)

                                                      Six months ended
                                                          June 30,
                                                  ------------------------
                                                      2009         2010
                                                  -----------  -----------
Cash flows from operating activities:
Net income                                        $     5,894  $    14,625
Adjustments to reconcile net income
 to net cash provided by operating
 activities:
  Depreciation and amortization                        19,439       20,581
  Stock-based compensation expense                      2,090        2,082
  Deferred income taxes                                 3,129        7,239
  (Gain) loss on early extinguishment of debt          (1,083)          79
  Sale of accounts receivable to
   (collections for) purchaser                         (3,000)     (29,000)
  Increase (decrease) in cash flows from
   changes in assets and liabilities:
    Accounts receivable                                 7,999        8,718
    Inventories                                        (4,319)     (16,167)
    Accounts payable                                   (7,774)       6,100
    Income taxes payable                               (1,901)        (125)
    Accrued compensation and benefits                  (2,996)          90
    Other assets                                         (830)      (2,884)
    Other liabilities                                  (2,661)      (5,815)
                                                  -----------  -----------
Net cash provided by operating activities              13,987        5,523
                                                  -----------  -----------

Cash flows from investing activities:
  Purchases of property, plant, and
   equipment                                          (12,032)      (7,163)
  Payments related to business acquisitions              (188)      (5,157)
                                                  -----------  -----------
Net cash used in investing activities                 (12,220)     (12,320)
                                                  -----------  -----------

Cash flows from financing activities:
  Payments on debt                                     (9,519)     (14,012)
  Proceeds of debt                                      9,000            -
  Proceeds from secured borrowings, net                     -       31,000
  Repurchase of treasury stock                              -       (9,471)
  Other, net                                           (1,341)      (1,279)
                                                  -----------  -----------
Net cash provided by (used in) financing
 activities                                            (1,860)       6,238
                                                  -----------  -----------

Effect of exchange rate change on cash and cash
 equivalents                                           (1,039)      (1,049)
                                                  -----------  -----------

Net decrease in cash and cash equivalents              (1,132)      (1,608)

Cash and cash equivalents at beginning of period       11,811       10,098
                                                  -----------  -----------

Cash and cash equivalents at end of period        $    10,679  $     8,490
                                                  ===========  ===========





                           CONMED CORPORATION
        RECONCILIATION OF REPORTED NET INCOME TO NON-GAAP NET INCOME
          BEFORE UNUSUAL ITEMS AND AMORTIZATION OF DEBT DISCOUNT
               Three Months Ended June 30, 2009 and 2010
                (In thousands except per share amounts)
                             (unaudited)

                                                          2009      2010
                                                        --------  --------
Reported net income                                     $  1,409  $  7,306
                                                        --------  --------
New plant / facility consolidation costs included
 in cost of sales                                          3,698       992
                                                        --------  --------

CONMED Linvatec division administrative consolidation          -       970

Facility consolidation costs included in other expense
 (income)                                                    734         -
                                                        --------  --------

  Total other expense (income)                               734       970
                                                        --------  --------

Loss on early extinguishment of debt                           -        79
                                                        --------  --------

Amortization of debt discount                              1,013     1,056
                                                        --------  --------

Unusual expense (income) before income taxes               5,445     3,097

Provision (benefit) for income taxes on unusual
 expenses                                                 (1,970)   (1,125)
                                                        --------  --------

Net income before unusual items                         $  4,884  $  9,278
                                                        ========  ========

Per share data:

Reported net income
  Basic                                                 $   0.05  $   0.25
  Diluted                                                   0.05      0.25

Net income before unusual items
  Basic                                                 $   0.17  $   0.32
  Diluted                                                   0.17      0.32

Management has provided the above reconciliation of net income before
unusual items as an additional measure that investors can use to compare
operating performance between reporting periods. Management believes this
reconciliation provides a useful presentation of operating performance as
discussed in the section “Use of Non-GAAP Financial Measures” above. We
have included the amortization of debt discount in our analysis in order to
facilitate comparison with the non-GAAP earnings guidance provided in the
“Outlook” section of this and previous releases which exclude such expense.

                         CONMED CORPORATION
      RECONCILIATION OF REPORTED NET INCOME TO NON-GAAP NET INCOME
         BEFORE UNUSUAL ITEMS AND AMORTIZATION OF DEBT DISCOUNT
                Six Months Ended June 30, 2009 and 2010
                (In thousands except per share amounts)
                             (unaudited)

                                                          2009      2010
                                                        --------  --------

Reported net income                                     $  5,894  $ 14,625
                                                        --------  --------

New plant / facility consolidation costs included
 in cost of sales                                          6,624     1,559
                                                        --------  --------

CONMED Linvatec division administrative consolidation          -       970

Pension gain, net                                         (1,882)        -

Facility consolidation costs included in other
 expense (income)                                          1,280         -
                                                        --------  --------

      Total other expense (income)                          (602)      970
                                                        --------  --------

(Gain) loss on early extinguishment of debt               (1,083)       79
                                                        --------  --------

Amortization of debt discount                              2,058     2,108
                                                        --------  --------

Unusual expense (income) before income taxes               6,997     4,716

Provision (benefit) for income taxes on unusual
 expenses                                                 (2,538)   (1,718)
                                                        --------  --------

Net income before unusual items                         $ 10,353  $ 17,623
                                                        ========  ========

Per share data:

Reported net income
      Basic                                             $   0.20  $   0.50
      Diluted                                               0.20      0.50

Net income before unusual items
      Basic                                             $   0.36  $   0.61
      Diluted                                               0.36      0.60

Management has provided the above reconciliation of net income before
unusual items as an additional measure that investors can use to compare
operating performance between reporting periods. Management believes this
reconciliation provides a useful presentation of operating performance as
discussed in the section “Use of Non-GAAP Financial Measures” above. We
have included the amortization of debt discount in our analysis in order to
facilitate comparison with the non-GAAP earnings guidance provided in the
“Outlook” section of this and previous releases which exclude such expense.


                         CONMED CORPORATION
      IMPACT TO STATEMENT OF CASH FLOWS RELATED TO ACCOUNTING
                   CHANGE APPLIED PROSPECTIVELY
              Six Months Ended June 30, 2009 and 2010
                          (In thousands)
                            (unaudited)

                                                          2009     2010
                                                        --------  --------

Reported cash flows from operating activities           $ 13,987  $  5,523
                                                        --------  --------

Sale of accounts receivable accounting change                  -    29,000
                                                        --------  --------

Adjusted cash flows from operating activities           $ 13,987  $ 34,523
                                                        ========  ========


Reported cash flows provided by (used in) financing
 activities                                             $ (1,860) $  6,238
                                                        --------  --------

Proceeds from secured borrowings, net                          -   (31,000)
                                                        --------  --------

Adjusted cash flows provided by (used in) financing
 activities                                             $ (1,860) $(24,762)
                                                        ========  ========

Management has provided the above reconciliation of cash flow from
operations and cash flow from financing activities before the accounting
change as an additional measure that investors can use to compare operating
and financing cash flows between reporting periods. Management believes
these reconciliations provide a useful presentation of cash flows as
discussed in the section “Use of Non-GAAP Financial Measures” above.

CONTACT:
CONMED Corporation
Robert Shallish
Chief Financial Officer
315-624-3206

FD
Investors:
Brian Ritchie
212-850-5600

Filed Under: Healthcare Business

Positron Front Line and Tiburon Announce Strategic Partnership Agreement With Intrado

Posted on July 29, 2010 Written by Editor

SOURCE: Tiburon, Inc.

Positron Front Line, Tiburon and Intrado Partner to Deliver the Industry’s Leading Next-Generation 9-1-1 Solutions

PLEASANTON, CA–(Marketwire – July 29, 2010) –  APCO Booth #939 — As leading providers of integrated public safety solutions, Positron Front Line and its parent company Tiburon, Inc. announce a strategic partnership agreement with Intrado Inc., the leading provider of 9-1-1 technology solutions. Positron Front Line has also become Intrado’s preferred computer aided dispatch (CAD) solutions provider and will continue to deliver integrated solutions with Intrado’s call-handling applications.

As part of the agreement, Positron Front Line has committed to interoperability with Intrado’s next-generation 9-1-1 (NG9-1-1) voice and data services, ensuring that their solutions are fully compatible with approved industry standards. Through this new strategic partnership, Positron Front Line and Tiburon will work with Intrado to innovate and deliver seamless integration between Intrado’s NG9-1-1 network and value added services and the Positron Front Line VIPER CAD system, allowing NG9-1-1 capabilities and feature rich multimedia content to be accessible by public safety answering point (PSAP) operators and first responders.

NG9-1-1 represents the transformation of the legacy infrastructure of 9-1-1 based on obsolete technology first developed in the 1960s to Internet Protocol (IP) technology of the 21st century. The interoperability and integration of Positron Front Line’s CAD and Intrado’s NG9-1-1 voice and data services will be achieved using ATIS (Alliance for Telecommunications Industry Solutions) approved Emergency Services Messaging Interface (ESMI) and the Request for Assistance Interface (RFAI) standards. These standards are critical to enabling the transition from today’s legacy telecommunications systems to IP-based NG9-1-1 services in the U.S. 

“We are excited to partner with Intrado, a clear leader in next-generation 9-1-1 emergency communication services and we’re proud to be part of a partnership that will help set the standard for the future of emergency response,” said Ian Archbell, general manager of Positron Front Line. “Positron Front Line’s advanced solutions and our commitment, along with Tiburon, to improving standards and solutions for public safety agencies worldwide will further increase with this partnership.”

Intrado’s NG9-1-1 network efficiently delivers voice, text and rich media as well as hosted applications through fully-secured and redundant networks with the goal of allowing agencies and their first responders to enhance the safety, situational awareness and services they provide to their communities.

“Positron Front Line, Tiburon and Intrado are committed to supporting open standards-based technological advancements and have a shared vision about how best to enable the transformation of public safety from today’s largely legacy environments to NG9-1-1,” said Stephen Meer, chief technology officer and co-founder of Intrado. “We’re looking forward to working with Positron Front Line and Tiburon on this important integration initiative, which we believe serves the best interests of the public safety industry as a whole.”

Positron Front Line’s VIPER CAD product integrates an advanced computer aided dispatch system with flexible features, intuitive user interfaces and dynamic administrative control built on a disaster-tolerant distributed architecture. VIPER CAD enables users to manage a variety of CAD activities including tracking calls, responses and resources, changing a unit’s location and obtaining critical information such as emergency type and location. Positron Front Line’s VIPER CAD seamlessly integrates with Intrado NG9-1-1 voice and data services to provide a comprehensive emergency call-taking and dispatching capability with faster, less-costly deployment. VIPER CAD uses open standards to assure operational compatibility not only upon implementation, but throughout the future of NG9-1-1.

About Positron Front Line
As a recognized leader in advanced 9-1-1 technologies and provider of public safety solutions through hosted and traditional delivery models, Positron Front Line delivers integrated, comprehensive, cost-effective public safety solutions for dispatch, mobile communications and records management, and has more than 220 systems installed globally. A subsidiary of Tiburon, Inc., a public safety and security solution provider who serves some of the largest and most complex agencies in the world, Positron Front Line is one of the country’s leading providers of integrated public safety solutions. The company’s roots are in continuously developing, implementing and supporting automated information solutions for the public safety community since 1983. For more information, visit www.positronfrontline.com or call 877-441-4648.

About Tiburon
Established in 1980, Tiburon is the Industry-leading provider of automated public safety and security solutions to meet the demanding and complex needs of law enforcement, fire and rescue and corrections agencies. Tiburon offers fully integrated solutions including computer aided dispatch, records management, mobile data and communications, field reporting and corrections management solutions. From mission-critical conditions to daily operations, across complex multi-agency and multi-jurisdictional environments, Tiburon’s integrated solutions have set the industry standard for capability, scalability and reliability for 30 years. For more information, visit www.tiburoninc.com or call 800-428-5534.

About Intrado
In business for more than 30 years, Intrado has maintained a focus and passion for saving lives and supporting the needs of public safety. Agencies and telecommunication services providers throughout the world depend on Intrado for emergency communication services and technology. Products and services offered include emergency 9-1-1 voice call delivery, comprehensive data management, advanced call routing, emergency location and integrated call handling technologies. Intrado’s dedicated focus on emergency communications technology allows the company to continue pioneering network innovations that save lives and improve emergency response.

MEDIA CONTACT:
Roxana K. Janka
BrandCulture Company
Email Contact

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Filed Under: Healthcare Business

MWI Veterinary Supply Announces 2010 Third Quarter Results and Updates Its 2010 Business Outlook

Posted on July 29, 2010 Written by Editor

SOURCE: MWI Veterinary Supply

MERIDIAN, ID–(Marketwire – July 29, 2010) –  MWI Veterinary Supply, Inc. (NASDAQ: MWIV) (the “Company”) announced financial results today for its third quarter ended June 30, 2010.

Highlights:

  • Total revenues were $347.7 million for the quarter, 40% higher than revenues for the same period in the prior fiscal year. Of the 40% increase in total revenues, 17% was due to organic growth in the United States and 23% was related to our acquisition of Centaur Services Limited (“Centaur”). On February 8, 2010, we acquired Centaur, a supplier of animal health products to veterinarians in the United Kingdom. 
  • Selling, general and administrative (“SG&A”) expenses as a percentage of total revenues were 7.9% for the quarter, compared to 9.2% for the same period in the prior fiscal year. 
  • Operating income increased 38% to $15.1 million, compared to the same period in the prior fiscal year. 
  • Net income increased 38% to $9.1 million, compared to the same period in the prior fiscal year. Diluted earnings per share were $0.74 compared to $0.54 in the same period of the prior fiscal year, an increase of 37%. 
  • Internet sales to independent veterinary practices and producers in the United States grew by approximately 44% for the quarter compared to the same period in the prior fiscal year. Our product sales from the internet as a percentage of sales in the United States increased to 36% for the quarter as compared to 32% for the same period in the prior fiscal year.
  • We generated $5.4 million in cash from operations during the quarter, and as of June 30, 2010 we had borrowings under our credit facilities of $15.9 million. 

“Our results for the quarter continue to demonstrate our strong commitment to providing excellent service and value to our customers and vendor partners,” said Jim Cleary, President and Chief Executive Officer. “Our revenue growth, expense control, earnings growth and value-added services all exceeded our expectations and I would like to thank our employees, customers and vendors for their loyalty to MWI. Also, we continue to be pleased with our integration and collaboration with the Centaur team.”

Quarter ended June 30, 2010 compared to quarter ended June 30, 2009

Total revenues increased 40% to $347.7 million for the quarter ended June 30, 2010, compared to $247.5 million for the quarter ended June 30, 2009. Of the 40% revenue growth, 23% or $57.7 million was related to the acquisition of Centaur. Excluding this acquisition, our revenues attributable to existing customers represented 43% of the growth of total revenues during the quarter ended June 30, 2010. Commissions increased 19% to $4.3 million during the quarter ended June 30, 2010, compared to $3.6 million during the quarter ended June 30, 2009. 

Gross profit increased 27% to $43.9 million for the quarter ended June 30, 2010, compared to $34.5 million for the quarter ended June 30, 2009. Gross profit was benefited by our revenue growth and the addition of Centaur. Gross profit as a percentage of total revenues was 12.6% for the quarter ended June 30, 2010, compared to 13.9% for the quarter ended June 30, 2009. Gross profit as a percentage of total revenues decreased due to the addition of Centaur because Centaur’s gross profit as a percentage of total revenues is generally lower than MWI’s, which serves to reduce the overall gross margin of the consolidated Company when compared to our results for the same period in the prior year. Vendor rebates for the quarter ended June 30, 2010 increased by approximately $540,000 compared to the quarter ended June 30, 2009.

Operating income increased 38% to $15.1 million for the quarter ended June 30, 2010, compared to $10.9 million for the quarter ended June 30, 2009. SG&A expenses increased 21% to $27.4 million for the quarter ended June 30, 2010, compared to $22.7 million for the quarter ended June 30, 2009. SG&A expenses increased primarily due to the acquisition of Centaur and our revenue growth. SG&A expenses as a percentage of total revenues improved to 7.9% for the quarter ended June 30, 2010, compared to 9.2% for the quarter ended June 30, 2009. SG&A expenses as a percentage of total revenues decreased due to the addition of Centaur because Centaur’s SG&A expenses as a percentage of total revenues are generally lower than MWI’s, which serves to reduce the overall SG&A expenses as a percentage of total revenues when compared to our results for the same period in the prior year. Additionally, we had an improvement in our allowance for doubtful accounts as a result of payments made by certain customers. 

Net income increased 38% to $9.1 million for the quarter ended June 30, 2010, compared to $6.6 million for the quarter ended June 30, 2009. Diluted earnings per share were $0.74 and $0.54 for the quarters ended June 30, 2010 and 2009, respectively, an increase of 37%. 

Nine months ended June 30, 2010 compared to nine months ended June 30, 2009

Total revenues increased 25% to $870.4 million for the nine months ended June 30, 2010, compared to $693.8 million for the nine months ended June 30, 2009. Of the 25% revenue growth, 13% or $91.3 million was related to the acquisition of Centaur. Commissions increased 18% to $12.1 million during the nine months ended June 30, 2010, compared to $10.3 million during the nine months ended June 30, 2009.

Gross profit increased by 20% to $119.5 million for the nine months ended June 30, 2010, compared to $99.8 million for the nine months ended June 30, 2009. Gross profit as a percentage of total revenues was 13.7% for the nine months ended June 30, 2010, compared to 14.4% for the nine months ended June 30, 2009. Vendor rebates for the nine months ended June 30, 2010 increased by approximately $165,000 compared to the nine months ended June 30, 2009. 

Operating income increased 36% to $40.5 million for the nine months ended June 30, 2010, compared to $29.8 million for the nine months ended June 30, 2009. SG&A expenses increased 12% to $75.4 million for the nine months ended June 30, 2010, compared to $67.4 million for the nine months ended June 30, 2009. SG&A expenses as a percentage of total revenues were 8.7% for the nine months ended June 30, 2010, compared to 9.7% for the nine months ended June 30, 2009. Included in the increase in SG&A expenses for the nine months ended June 30, 2010 are direct acquisition-related expenses of $1.1 million incurred in connection with the acquisition of Centaur. 

Net income increased 34% to $24.6 million for the nine months ended June 30, 2010, compared to $18.4 million for the nine months ended June 30, 2009. Diluted earnings per share were $1.99 and $1.49 for the nine months ended June 30, 2010 and 2009, respectively, an increase of 34%.

Our cash balance as of June 30, 2010 was $908,000 and we had $15.9 million outstanding on our credit facilities. Compared to September 30, 2009, receivables increased 30%, inventories increased 22% and accounts payable increased 26%. These increases were primarily due to the balances acquired through the acquisition of Centaur as well as our revenue growth.

Business Outlook

The Company updates its previous estimates for the fiscal year ending September 30, 2010. The Company increases its estimate that revenues will be from $1.195 billion to $1.205 billion, which represents growth of 27% to 28% compared to revenues in fiscal year 2009. The Company increases its estimate that diluted earnings per share will be from $2.58 to $2.60 per share, which represents growth of 28% to 29% compared to diluted earnings per share in fiscal year 2009. All of these estimates give effect to the acquisition of Centaur from February 8, 2010 through September 30, 2010. The Company’s previous guidance for the fiscal year ending September 30, 2010 was revenues of approximately $1.16 billion to $1.18 billion and diluted earnings per share of $2.40 to $2.45.

Conference Call

The Company will be hosting a conference call on July 29, 2010 at 11:00 a.m. eastern daylight time to discuss these results and its fiscal year 2010 business outlook in greater detail. Participants can access the conference call by dialing (877) 638-4561 and international callers can access the conference call by dialing (720) 545-0002. The conference call will also be carried live on the Company’s web site at www.mwivet.com. Audio replay will be made available through August 12, 2010 by calling (800) 642-1687 for calls within the United States or (706) 645-9291 for international calls using the passcode 89688546. The conference call will also be available on the Company’s web site, www.mwivet.com.

MWI is a leading distributor of animal health products to veterinarians across the United States of America and United Kingdom. Products MWI sells include pharmaceuticals, vaccines, parasiticides, diagnostics, capital equipment, supplies, veterinary pet food and nutritional products. We market these products to veterinarians in both the companion animal and production animal markets. For more information about MWI, please visit our website at www.mwivet.com. For investor relations information please contact Mary Pat Thompson, Senior Vice President of Finance and Administration, and Chief Financial Officer at (208) 955-8930 or email [email protected].

Certain statements contained herein that are not descriptions of historical facts are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. Many of the factors that will determine the Company’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Important assumptions and other important factors that could cause actual results to differ materially from those set forth in the forward-looking information include the impact of vendor consolidation on our business; changes in or availability of vendor rebate programs; vendor rebates based upon attaining certain growth goals; changes in the way vendors introduce products to market; exclusivity requirements with certain vendors that may prohibit us from distributing competing products manufactured by other vendors; risks associated with our international operations; transitional challenges associated with acquisitions, including the failure to achieve anticipated synergies; financial risks associated with acquisitions; the impact of general economic trends on our business; the recall of a significant product by one of our vendors; extended shortage or backorder of a significant product by one of our vendors; seasonality; the timing and effectiveness of marketing programs offered by our vendors; the timing of the introduction of new products and services by our vendors; the ability to borrow on our credit line, extend the terms of our credit line or obtain alternative financing on favorable terms or at all; risks from potential increases in variable interest rates; unforeseen litigation; a disruption caused by adverse weather or other natural conditions; inability to ship products to the customer as a result of technological or shipping disruptions; and competition. Other factors include changes in the rate of inflation; changes in state or federal legislation or regulation; the continued safety of the products the Company sells; and changes in the general economy. Investors should also be aware that while we do, from time to time, communicate with securities analysts, it is against our policy to disclose any material non-public information or other confidential commercial information. Accordingly, stockholders should not assume that we agree with any statement or report issued by any analyst irrespective of the content of the statement or report. Furthermore, we have a policy against issuing or confirming financial forecasts or projections issued by others. Thus, to the extent that reports issued by securities analysts contain any projections, forecasts or opinions, such reports are not the responsibility of MWI Veterinary Supply, Inc.

MWI Veterinary Supply, Inc.  
(Unaudited – Dollars and shares in thousands, except per share amounts)  
                           
Condensed Consolidated   Three Months Ended June 30,     Nine Months Ended June 30,  
Statements of Income   2010     2009     2010     2009  
Revenues     $ 347,687     $ 247,463     $ 870,395     $ 693,794  
Cost of product sales     303,750       212,980       750,927       594,022  
Gross profit     43,937       34,483       119,468       99,772  
Selling, general and administrative expenses      27,435       22,748        75,448        67,379  
Depreciation and amortization     1,438       844       3,559       2,546  
Operating income     15,064       10,891       40,461       29,847  
Interest expense     (171 )     (63 )     (389 )     (202 )
Other income     102       183       454       580  
Income before taxes     14,995       11,011       40,526       30,225  
Income tax expense     (5,858 )     (4,395 )     (15,884 )     (11,873 )
Net income   $ 9,137     $ 6,616     $ 24,642     $ 18,352  
                                   
Net income per share – diluted   $ 0.74     $ 0.54     $ 1.99     $ 1.49  
Weighted average common shares outstanding – diluted      12,408        12,303        12,380        12,298  
                       
                        June 30,       September 30,  
Condensed Consolidated Balance Sheets                   2010       2009  
Assets                                  
  Cash                     $ 908     $ 14,302  
  Receivables, net                         185,674       142,485  
  Inventories                         141,515       116,119  
  Prepaid expenses and other current assets                         4,410       3,946  
  Deferred income taxes                         2,069       1,517  
    Total current assets                     334,576       278,369  
  Property and equipment, net                     13,609       9,313  
  Goodwill                     46,297       37,610  
  Intangibles, net                     26,300       10,194  
  Other assets, net                     2,685       2,433  
    Total Assets                   $ 423,467     $ 337,919  
Liabilities                                
  Credit facilities                           $ 15,885     $ –  
  Accounts payable                             148,832       117,830  
  Accrued expenses                             14,131       10,767  
  Note payable                             2,000       –  
  Current portion of long-term debt and capital lease obligations                             1,505       97  
    Total current liabilities                     182,353       128,694  
  Deferred income taxes                         5,329       1,298  
  Long-term debt and capital lease obligations               917       –  
  Other long-term liabilities                         1,117       –  
                                   
Stockholders’ Equity                     233,751       207,927  
  Total Liabilities and Stockholders’ Equity             $ 423,467     $ 337,919  

Contact:
Mary Pat Thompson
Senior Vice President of Finance and Administration, and Chief Financial Officer
(208) 955-8930
email Email Contact

Filed Under: Healthcare Business

Sun Healthcare Group, Inc. Reports Normalized Second Quarter EPS of $0.26; Reaffirms Guidance for 2010; Provides Outlook for 2011

Posted on July 28, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – July 28, 2010) – Sun Healthcare Group, Inc. (NASDAQ: SUNH) today
announced its operating results for the second quarter ended June 30, 2010.

Normalized results for the second-quarter period ended June 30, 2010:

--  consolidated revenues rose 1.3 percent to $474.6 million, compared to
    the same period in 2009;
    -- increased patient acuity resulted in an overall improvement in
       reimbursement rates;
    -- hospice and rehabilitation therapy businesses showed solid revenue
       growth;
--  consolidated adjusted EBITDAR was $62.8 million and adjusted EBITDAR
    margin was 13.2 percent;
--  consolidated adjusted EBITDA was $44.0 million and adjusted EBITDA
    margin was 9.3 percent;
--  diluted earnings per share from continuing operations were $0.26;
--  free cash flow was $20.6 million for the quarter;
--  results included $0.9 million of non-recurring project costs associated
    with the continued implementation of a clinical/billing platform; and
--  results have been normalized to exclude a pre-tax charge of $2.2
    million for transaction costs associated with the Separation
    transaction described in further detail later in this press release.

Commenting on the Company’s second-quarter results, Richard K. Matros,
Sun’s chairman and chief executive officer, remarked, “We have navigated
through a particularly tough time in our sector with only a slight
reduction in normalized adjusted EBITDAR and EBITDA. As we get closer to
the Oct. 1 effective date for changes in Medicare reimbursement, which
include the implementation of RUGs IV, restrictions on concurrent therapy
and elimination of the lookback period, we are bullish on the growth
opportunities that these changes provide. We still anticipate top line
softness and no growth in Medicaid rates in 2011, given the continued
budget pressures that exist in many states in which we operate. However, we
expect Medicare growth in both pricing and acuity, a decided improvement
over what we have experienced in 2010 coming off the Medicare rate
reduction in October 2009. The previously announced separation of our
operating assets and our real estate assets and the creation of the REIT
are proceeding as planned.” Matros added, “We are reaffirming our
previously announced 2010 guidance and believe that the high end of the
guidance is achievable.”

Segment Updates

On a year-over-year basis for the quarter, revenue growth in Sun’s
inpatient services business totaled $5.3 million, or 1.3 percent, due
principally to revenue growth in SolAmor, the Company’s hospice business.
SolAmor’s revenues increased from $6.3 million to $11.4 million, due to
census expansion derived from same-store census growth as well as an
October 2009 acquisition. SolAmor contributed $2.2 million of adjusted
EBITDA for the quarter and an adjusted EBITDA margin of 19.6 percent. In
the quarter, revenues from SunBridge’s nursing center operations were flat
on a year-over-year basis due to declines in nursing center customer base
and the lingering effect of the October 2009 Medicare rate reduction,
partially offset by acuity-driven rate growth. This acuity growth was
evidenced by Medicare Rehab RUG utilization of 90.9 percent, which was up
240 basis points year-over-year, and Medicare REX utilization of 45.8
percent, which was up 370 basis points year-over-year. On an overall basis,
the adjusted EBITDAR for inpatient services was $71.6 million for the
quarter, with an adjusted EBITDAR margin of 17.0 percent.

SunDance, Sun’s rehabilitation therapy services business, experienced
revenue growth of $6.5 million, or 14.7 percent, in the quarter as
non-affiliated contracts were increased by nine to a high of 335 contracts
as of June 30, 2010, and revenue per contract also increased by 10 percent.
Given the strong revenue results, adjusted EBITDA margin also expanded in
the quarter by 70 basis points, producing an 8.0 percent adjusted EBITDA
margin.

The slow economy continues to impact the demand for temporary medical
staffing across the industry. Accordingly, revenues from CareerStaff,
Sun’s medical staffing services business, were down compared to revenues in
the second quarter of 2009. Despite the decline in revenues, CareerStaff
achieved adjusted EBITDA margin growth on a sequential quarter basis of 140
basis points to 8.5 percent for the quarter.

Mr. Matros commented, “We have completed the installation of our clinical
billing platform for our nursing centers and are experiencing the benefits
of this integrated system in our daily management of the business. We
opened three new Rehab Recovery Suites® (RRS) during the quarter,
bringing our RRS count to 66 units and our RRS beds to a high of 1,632, a
6.8 percent increase in beds since the beginning of the year, with the
majority of the RRS bed growth coming in the second half of 2010 as
planned. The revenue growth we have achieved in our rehabilitation business
was solid this quarter, driven by the increase in contracts as well as the
increase in revenue per contract. Our hospice business continues to perform
consistently with our expectations, and although our medical staffing
business continues to operate in a tough environment, its adjusted EBITDA
margin remains solid.”

Conference Call

As previously announced, investors and the general public are invited to
listen to a conference call with Sun’s senior management on Thursday, July
29, 2010, at 10 a.m. Pacific / 1 p.m. Eastern, to discuss the Company’s
earnings for the second quarter of 2010.

To listen to the conference call, dial (888) 437-9315 and refer to Sun
Healthcare Group. A recording of the call will be available from 4 p.m.
Eastern on July 29, 2010, until midnight Eastern on Aug. 30, 2010, by
calling (888) 203-1112 and using access code 1833674.

About Sun Healthcare Group, Inc.

Sun Healthcare Group, Inc.’s (NASDAQ: SUNH) subsidiaries provide nursing,
rehabilitative and related specialty healthcare services principally to the
senior population in the United States. Sun’s core business is providing,
through its subsidiaries, inpatient services, primarily through 166 skilled
nursing centers, 16 combined skilled nursing, assisted and independent
living centers, 10 assisted living centers, two independent living centers
and eight mental health centers. On a consolidated basis, Sun has annual
revenues of $1.9 billion and approximately 30,000 employees in 46 states.
At June 30, 2010, SunBridge centers had 23,209 licensed beds located in 25
states, of which 22,427 were available for occupancy. Sun also provides
rehabilitation therapy services to affiliated and non-affiliated centers
through its SunDance subsidiary, medical staffing services through its
CareerStaff Unlimited subsidiary and hospice services through its SolAmor
subsidiary.

In May 2010, Sun announced a plan to restructure its business by separating
its real estate assets and its operating assets into two separate publicly
traded companies (the “Separation”), subject to the approval of
stockholders and other conditions. The Separation will be accomplished by
distributing to stockholders the stock of SHG Services, Inc., a Sun
subsidiary that will own and operate the operating subsidiaries.
Substantially all of Sun’s owned real estate assets will continue to be
owned by Sun, which will, after the Separation, merge into its subsidiary,
Sabra Health Care REIT, Inc. Following this merger, SHG Services, Inc. will
change its name to Sun Healthcare Group, Inc. The common stock of both
companies is expected to trade on the NASDAQ Global Select Market. The
Separation is expected to be completed in the fourth quarter of 2010.

Forward-Looking Statement

Statements made in this release that are not historical facts are
“forward-looking” statements (as defined in the Private Securities
Litigation Reform Act of 1995) that involve risks and uncertainties and are
subject to change at any time. These forward-looking statements may
include, but are not limited to, statements containing words such as
“anticipate,” “believe,” “plan,” “estimate,” “expect,” “hope,” “intend,”
“may” and similar expressions. Forward-looking statements in this release
include all statements regarding our expected future financial position and
results of operations, business strategy, the impact of reductions in
reimbursements and other changes in government reimbursement programs, the
timing and impact of the equity offering and the Separation and
transactions related thereto, growth opportunities and plans and objectives
of management for future operations. Factors that could cause actual
results to differ are identified in the public filings made by the Company
with the Securities and Exchange Commission and include changes in Medicare
and Medicaid reimbursements; the impact that any healthcare reform
legislation will have on our business; our ability to maintain the
occupancy rates and payor mix at our healthcare centers; potential
liability for losses not covered by, or in excess of, our insurance; the
effects of government regulations and investigations; the significant
amount of our indebtedness, covenants in our debt agreements that may
restrict our activities and our ability to make acquisitions, to incur more
indebtedness and to refinance indebtedness on favorable terms; our ability
to accomplish the Separation and the proposed equity and debt financings,
the impact of the current economic downturn on our business; increasing
labor costs and the shortage of qualified healthcare personnel; and our
ability to receive increases in reimbursement rates from government payors
to cover increased costs. More information on factors that could affect our
business and financial results are included in our public filings made with
the Securities and Exchange Commission, including our Annual Report on
Forms 10-K and Quarterly Reports on Form 10-Q, copies of which are
available on Sun’s web site, www.sunh.com. There may be additional risks of
which we are presently unaware or that we currently deem immaterial.

The forward-looking statements involve known and unknown risks,
uncertainties and other factors that are, in some cases, beyond our
control. We caution investors that any forward-looking statements made by
Sun are not guarantees of future performance and are only made as of the
date of this release. We disclaim any obligation to update any such factors
or to announce publicly the results of any revisions to any of the
forward-looking statements to reflect future events or developments.

Adjusted EBITDA, adjusted EBITDAR and free cash flow, as used in this press
release and in the accompanying tables, which are non-GAAP financial
measures, are each reconciled to their respective GAAP recognized financial
measures in the accompanying tables. In addition, the normalizing
adjustments to adjusted EBITDA, adjusted EBITDAR and earnings per share as
discussed in this press release and shown, together with normalizing
adjustments to other financial measures, in the accompanying tables, are
non-GAAP adjustments, and are reconciled to GAAP financial measures in the
accompanying tables.

Additional Information

In connection with the Separation, SHG Services, Inc. has filed with the
SEC a Registration Statement on Form S-1 and Sabra Health Care REIT, Inc.
has filed with the SEC a Registration Statement on Form S-4, each
containing an identical proxy statement/prospectus. The definitive proxy
statement/prospectus will be mailed to Sun stockholders. In addition, Sun
has filed a shelf registration statement on Form S-3 (including a
prospectus) relating to shares of common stock of Sun with the SEC, and
such registration statement has been declared effective. This release does
not constitute an offer to sell or a solicitation of an offer to buy shares
of Sun common stock; nor shall there be any offer, solicitation or sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful. The offering of shares of Sun
common stock may be made only by means of a prospectus relating to the
proposed offering.

Before making any voting or investment decision, Sun stockholders and
investors are urged to read the proxy statement/prospectus, the prospectus
in the registration statement on FormS-3, and other documents filed with
the SEC carefully and in their entirety when they become available because
they will contain important information about the proposed transactions.
Stockholders will be able to obtain these documents free of charge at the
SEC’s web site at www.sec.gov. In addition, investors and stockholders of
Sun may obtain free copies of the documents filed with the SEC by
contacting Sun’s investor relations department at (505) 468-2341 (TDD
users, please call (505) 468-4458) or by sending a written request to
Investor Relations, Sun Healthcare Group, Inc. 101 Sun Avenue N.E.,
Albuquerque, N.M. 87109.

Sun and its directors and executive officers and other members of its
management and employees may be deemed to be participants in the
solicitation of proxies from the stockholders of Sun in connection with the
transactions described in this release. Information about the directors
and executive officers of Sun and their ownership of shares of Sun common
stock are set forth in the Annual Report on Form 10-K for the year ended
December 31, 2009, filed with the SEC on March 5, 2010, and in the
definitive proxy statement relating to Sun’s 2010 Annual Meeting of
Stockholders filed with the SEC on April 30, 2010. These documents can be
obtained free of charge from the sources indicated above. Additional
information regarding the interests of these participants will also be
included in the definitive proxy statement/prospectus when it becomes
available.

                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                       KEY INCOME STATEMENT FIGURES
                               CONSOLIDATED
                  (in thousands, except per share data)



                                                    For the      For the
                                                 Three Months Three Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  -----------  -----------

Revenue                                           $   474,618  $   468,713

Depreciation and amortization                          12,561       11,153

Interest expense, net                                  11,776       12,465

Pre-tax income                                         17,403       18,328

Income tax expense                                      7,135        7,517

Income from continuing operations                      10,268       10,811

Loss from discontinued operations                        (295)        (715)
                                                  -----------  -----------

Net income                                        $     9,973  $    10,096
                                                  ===========  ===========


Diluted earnings per share                        $      0.22  $      0.23
                                                  ===========  ===========


Adjusted EBITDAR                                  $    60,550  $    60,201
Margin - Adjusted EBITDAR                                12.8%        12.8%

Adjusted EBITDAR normalized                       $    62,798  $    64,501
Margin - Adjusted EBITDAR normalized                     13.2%        13.8%


Adjusted EBITDA                                   $    41,740  $    41,986
Margin - Adjusted EBITDA                                  8.8%         9.0%

Adjusted EBITDA normalized                        $    43,988  $    46,286
Margin - Adjusted EBITDA normalized                       9.3%         9.9%


Pre-tax income continuing operations - normalized $    19,651  $    22,628

Income tax expense - normalized                   $     8,057  $     9,280

Income from continuing operations - normalized    $    11,594  $    13,348

Diluted earnings per share - normalized           $      0.26  $      0.30

Net income - normalized                           $    11,299  $    12,981

Diluted earnings per share - normalized           $      0.25  $      0.30

   See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
   "Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

   See normalizing adjustments in the table "Normalizing Adjustments -
   Quarter Comparison."



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES                

                       KEY INCOME STATEMENT FIGURES
                               CONSOLIDATED
                  (in thousands, except per share data)


                                                    For the      For the
                                                  Six Months   Six Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  -----------  -----------

Revenue                                           $   947,874  $   936,843

Depreciation and amortization                          25,007       21,875

Interest expense, net                                  23,752       25,191

Pre-tax income                                         35,198       37,989

Income tax expense                                     14,431       15,575

Income from continuing operations                      20,767       22,414

Loss from discontinued operations                        (596)      (2,075)
                                                  -----------  -----------

Net income                                        $    20,171  $    20,339
                                                  ===========  ===========


Diluted earnings per share                        $      0.46  $      0.46
                                                  ===========  ===========


Adjusted EBITDAR                                  $   121,319  $   121,673
Margin - Adjusted EBITDAR                                12.8%        13.0%

Adjusted EBITDAR normalized                       $   123,567  $   125,973
Margin - Adjusted EBITDAR normalized                     13.0%        13.4%


Adjusted EBITDA                                   $    83,957  $    85,095
Margin - Adjusted EBITDA                                  8.9%         9.1%

Adjusted EBITDA normalized                        $    86,205  $    89,395
Margin - Adjusted EBITDA normalized                       9.1%         9.5%


Pre-tax income continuing operations - normalized $    37,446  $    42,289

Income tax expense - normalized                   $    15,353  $    17,338

Income from continuing operations - normalized    $    22,093  $    24,951

Diluted earnings per share - normalized           $      0.50  $      0.57

Net income - normalized                           $    21,497  $    23,224

Diluted earnings per share - normalized           $      0.49  $      0.53

   See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
   "Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

   See normalizing adjustments in the table "Normalizing Adjustments -
   Quarter Comparison."



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                        CONSOLIDATED BALANCE SHEETS
                    (in thousands, except share data)



                                                    June 30,   December 31,
                                                      2010        2009
                                                  -----------  -----------
                                                  (unaudited)  (unaudited)
                          ASSETS

Current assets:
  Cash and cash equivalents                       $   106,974  $   104,483
  Restricted cash                                      24,732       24,034
  Accounts receivable, net                            220,373      220,319
  Prepaid expenses and other assets                    18,021       21,757
  Deferred tax assets                                  69,544       68,415
                                                  -----------  -----------
    Total current assets                              439,644      439,008

Property and equipment, net                           620,999      622,682
Intangible assets, net                                 52,640       53,931
Goodwill                                              338,364      338,296
Restricted cash, non-current                              348        3,317
Deferred tax assets                                    96,180      108,999
Other assets                                            5,000        4,961
                                                  -----------  -----------
    Total assets                                  $ 1,553,175  $ 1,571,194
                                                  ===========  ===========


          LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable                                $    52,922  $    57,109
  Accrued compensation and benefits                    63,015       58,953
  Accrued self-insurance obligations, current          43,794       45,661
  Income taxes payable                                    338            -
  Other accrued liabilities                            55,507       55,265
  Current portion of long-term debt and capital
   lease obligations                                   74,827       46,416
                                                  -----------  -----------
  Total current liabilities                           290,403      263,404

Accrued self-insurance obligations, net of
 current portion                                      128,657      121,948
Long-term debt and capital lease obligations, net
 of current portion                                   588,736      654,132
Unfavorable lease obligations, net                     11,233       12,663
Other long-term liabilities                            60,692       69,983
                                                  -----------  -----------
  Total liabilities                                 1,079,721    1,122,130


Stockholders' equity:
  Preferred stock of $.01 par value, authorized
   10,000,000 shares, no shares were issued and
   outstanding as of June 30, 2010 and
   December 31, 2009                                        -            -
  Common stock of $.01 par value, authorized
   125,000,000 shares, 43,980,405 and 43,764,240
   shares issued and outstanding as of June 30, 2010
   and December 31, 2009, respectively                    440          438
  Additional paid-in capital                          657,875      655,667
  Accumulated deficit                                (183,841)    (204,012)
  Accumulated other comprehensive loss, net            (1,020)      (3,029)
                                                  -----------  -----------
                                                      473,454      449,064
                                                  -----------  -----------
    Total liabilities and stockholders' equity    $ 1,553,175  $ 1,571,194
                                                  ===========  ===========



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                      CONSOLIDATED INCOME STATEMENTS
                  (in thousands, except per share data)


                                                    For the      For the
                                                 Three Months  Three Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  -----------  -----------
                                                  (unaudited)  (unaudited)

Total net revenues                                $   474,618  $   468,713
                                                  -----------  -----------
Costs and expenses:
  Operating salaries and benefits                     267,880      261,967
  Self-insurance for workers' compensation and
   general and professional liability insurance        14,558       16,809
  Operating administrative costs                       13,301       13,192
  Other operating costs                                95,884       94,530
  Center rent expense                                  18,810       18,215
  General and administrative expenses                  15,157       15,721
  Depreciation and amortization                        12,561       11,153
  Provision for losses on accounts receivable           5,040        6,293
  Interest, net of interest income of $73 and $96,
   respectively                                        11,776       12,465
  Transaction costs                                     2,248            -
  Loss on sale of assets, net                               -           40
                                                  -----------  -----------
Total costs and expenses                              457,215      450,385
                                                  -----------  -----------

Income before income taxes and discontinued
 operations                                            17,403       18,328
Income tax expense                                      7,135        7,517
                                                  -----------  -----------
Income from continuing operations                      10,268       10,811
                                                  -----------  -----------

Discontinued operations:
  Loss from discontinued operations, net of
   related taxes                                         (295)        (708)
  Loss on disposal of discontinued operations, net
   of related taxes                                         -           (7)
                                                  -----------  -----------
Loss from discontinued operations, net                   (295)        (715)
                                                  -----------  -----------

Net income                                        $     9,973  $    10,096
                                                  ===========  ===========


Basic income per common and common equivalent
 share:
  Income from continuing operations               $      0.23  $      0.25
  Loss from discontinued operations, net                    -        (0.02)
                                                  -----------  -----------
Net income                                        $      0.23  $      0.23
                                                  ===========  ===========

Diluted income per common and common equivalent
 share:
  Income from continuing operations               $      0.23  $      0.25
  Loss from discontinued operations, net                (0.01)       (0.02)
                                                  -----------  -----------
Net income                                        $      0.22  $      0.23
                                                  ===========  ===========

Weighted average number of common and
 common equivalent shares outstanding:
  Basic                                                44,233       43,851
  Diluted                                              44,352       43,960



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                      CONSOLIDATED INCOME STATEMENTS
                  (in thousands, except per share data)


                                                    For the      For the
                                                  Six Months   Six Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  -----------  -----------
                                                  (unaudited)  (unaudited)

Total net revenues                                $   947,874  $   936,843
                                                  -----------  -----------
Costs and expenses:
  Operating salaries and benefits                     534,918      524,878
  Self-insurance for workers' compensation and
   general and professional liability insurance        29,096       31,462
  Operating administrative costs                       25,589       25,769
  Other operating costs                               193,363      190,309
  Center rent expense                                  37,362       36,578
  General and administrative expenses                  30,424       32,471
  Depreciation and amortization                        25,007       21,875
  Provision for losses on accounts receivable          10,917       10,281
  Interest, net of interest income of $163 and
   $203, respectively                                  23,752       25,191
  Transaction costs                                     2,248            -
  Loss on sale of assets, net                               -           40
                                                  -----------  -----------
Total costs and expenses                              912,676      898,854
                                                  -----------  -----------

Income before income taxes and discontinued
 operations                                            35,198       37,989
Income tax expense                                     14,431       15,575
                                                  -----------  -----------
Income from continuing operations                      20,767       22,414
                                                  -----------  -----------

Discontinued operations:
  Loss from discontinued operations, net of
   related taxes                                         (596)      (1,760)
  Loss on disposal of discontinued operations, net
   of related taxes                                         -         (315)
                                                  -----------  -----------
Loss from discontinued operations, net                   (596)      (2,075)
                                                  -----------  -----------

Net income                                        $    20,171  $    20,339
                                                  ===========  ===========


Basic income per common and common equivalent
 share:
  Income from continuing operations               $      0.47  $      0.51
  Loss from discontinued operations, net                (0.01)       (0.05)
                                                  -----------  -----------
Net income                                        $      0.46  $      0.46
                                                  ===========  ===========

Diluted income per common and common equivalent
 share:
  Income from continuing operations               $      0.47  $      0.51
  Loss from discontinued operations, net                (0.01)       (0.05)
                                                  -----------  -----------
Net Income                                        $      0.46  $      0.46
                                                  ===========  ===========

Weighted average number of common and
 common equivalent shares outstanding:
  Basic                                                44,119       43,748
  Diluted                                              44,234       43,891



               SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (in thousands)


                                                    For the      For the
                                                 Three Months  Three Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  -----------  -----------
                                                  (unaudited)  (unaudited)

Cash flows from operating activities:
 Net income                                       $     9,973  $    10,096
 Adjustments to reconcile net income to net cash
  provided by operating activities, including
  discontinued operations:
    Depreciation and amortization                      12,561       11,153
    Amortization of favorable and unfavorable
     lease intangibles                                   (474)        (474)
    Provision for losses on accounts receivable         5,125        6,294
    Loss on sale of assets, including
     discontinued operations, net                           -           53
    Stock-based compensation expense                    1,694        1,641
    Deferred taxes                                      6,755        6,345
 Changes in operating assets and liabilities, net
  of acquisitions:
    Accounts receivable                                (4,871)     (11,599)
    Restricted cash                                     3,427        1,415
    Prepaid expenses and other assets                  (1,670)        (392)
    Accounts payable                                    7,140       (1,527)
    Accrued compensation and benefits                  (4,362)      (3,907)
    Accrued self-insurance obligations                  2,805          344
    Income taxes payable                                 (290)           -
    Other accrued liabilities                          (2,457)      (5,571)
    Other long-term liabilities                        (4,144)         885
                                                  -----------  -----------
     Net cash provided by operating activities         31,212       14,756
                                                  -----------  -----------

Cash flows from investing activities:
 Capital expenditures                                 (10,656)     (13,137)
 Purchase of leased real estate                             -       (3,275)
                                                  -----------  -----------
    Net cash used for investing activities            (10,656)     (16,412)
                                                  -----------  -----------

Cash flows from financing activities:
 Principal repayments of long-term debt and
  capital lease obligations                           (16,036)      (2,075)
 Distribution to non-controlling interest                   -         (549)
 Proceeds from issuance of common stock                     -            7
                                                  -----------  -----------
    Net cash used for financing activities            (16,036)      (2,617)
                                                  -----------  -----------

Net (decrease) increase in cash and cash
 equivalents                                            4,520       (4,273)
Cash and cash equivalents at beginning of period      102,454       99,945
                                                  -----------  -----------
Cash and cash equivalents at end of period        $   106,974  $    95,672
                                                  ===========  ===========

Reconciliation of net cash provided by operating
 activities to free cash flow:

   Net cash provided by operating activities      $    31,212  $    14,756
   Capital expenditures                               (10,656)     (13,137)
                                                  -----------  -----------
    Free cash flow                                $    20,556  $     1,619
                                                  ===========  ===========

Free cash flow is defined as net cash flow provided by operating activities
less cash used for capital expenditures.  Free cash flow is used by
management to evaluate discretionary cash flow potentially available for
debt service and other financing activities.



               SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (in thousands)


                                                    For the      For the
                                                  Six Months   Six Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  -----------  -----------
                                                  (unaudited)  (unaudited)

Cash flows from operating activities:
 Net income                                       $    20,171  $    20,339
 Adjustments to reconcile net income to net cash
  provided by operating activities, including
  discontinued operations:
    Depreciation and amortization                      25,007       21,875
    Amortization of favorable and unfavorable
     lease intangibles                                   (948)        (876)
    Provision for losses on accounts receivable        11,139       10,281
    Loss on sale of assets, including
     discontinued operations, net                           -          575
    Stock-based compensation expense                    3,087        2,909
    Deferred taxes                                     11,691       12,520
 Changes in operating assets and liabilities, net
  of acquisitions:
    Accounts receivable                               (11,193)     (21,667)
    Restricted cash                                     2,271        9,521
    Prepaid expenses and other assets                   2,613         (238)
    Accounts payable                                    1,281       (5,063)
    Accrued compensation and benefits                   4,062          366
    Accrued self-insurance obligations                  4,842        1,251
    Income taxes payable                                  338            -
    Other accrued liabilities                              13         (825)
    Other long-term liabilities                        (5,099)       1,181
                                                  -----------  -----------
     Net cash provided by operating activities         69,275       52,149
                                                  -----------  -----------

Cash flows from investing activities:
 Capital expenditures                                 (27,714)     (25,002)
 Purchase of leased real estate                             -       (3,275)
 Proceeds from sale of assets held for sale                 -        2,174
                                                  -----------  -----------
    Net cash used for investing activities            (27,714)     (26,103)
                                                  -----------  -----------

Cash flows from financing activities:
 Principal repayments of long-term debt and
  capital lease obligations                           (36,976)     (21,687)
 Payment to non-controlling interest                   (2,025)           -
 Distribution to non-controlling interest                 (69)        (860)
 Proceeds from issuance of common stock                     -           20
                                                  -----------  -----------
    Net cash used for financing activities            (39,070)     (22,527)
                                                  -----------  -----------

Net increase in cash and cash equivalents               2,491        3,519
Cash and cash equivalents at beginning of period      104,483       92,153
                                                  -----------  -----------
Cash and cash equivalents at end of period        $   106,974  $    95,672
                                                  ===========  ===========

Reconciliation of net cash provided by operating
 activities to free cash flow:
   Net cash provided by operating activities      $    69,275  $    52,149
   Capital expenditures                               (27,714)     (25,002)
                                                  -----------  -----------
    Free cash flow                                $    41,561  $    27,147
                                                  ===========  ===========

Free cash flow is defined as net cash flow provided by operating activities
less cash used for capital expenditures.  Free cash flow is used by
management to evaluate discretionary cash flow potentially available for
debt service and other financing activities.



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

            RECONCILIATION OF NET INCOME TO EBITDA and EBITDAR
                              (in thousands)



                                                    For the      For the
                                                  Three Months Three Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  ------------ ------------
                                                  (unaudited)  (unaudited)

Total net revenues                                $    474,618 $    468,713
                                                  ------------ ------------

Net income                                        $      9,973 $     10,096
                                                  ------------ ------------


  Income from continuing operations                     10,268       10,811

  Income tax expense                                     7,135        7,517

  Interest, net                                         11,776       12,465

  Depreciation and amortization                         12,561       11,153
                                                  ------------ ------------

EBITDA                                            $     41,740 $     41,946

  Loss on sale of assets, net                                -           40

Adjusted EBITDA                                   $     41,740 $     41,986


  Center rent expense                                   18,810       18,215
                                                  ------------ ------------

Adjusted EBITDAR                                  $     60,550 $     60,201
                                                  ============ ============

EBITDA is defined as earnings before loss on discontinued operations,
income taxes, interest, net, depreciation and amortization. Adjusted EBITDA
is defined as EBITDA before loss on sale of assets, net. Adjusted EBITDAR
is defined as Adjusted EBITDA before center rent expense. Adjusted EBITDA
and Adjusted EBITDAR are used by management to evaluate financial
performance and resource allocation for each entity within the operating
units and for the Company as a whole. Adjusted EBITDA and Adjusted EBITDAR
are commonly used as analytical indicators within the healthcare industry
and also serve as measures of leverage capacity and debt service ability.
Adjusted EBITDA and Adjusted EBITDAR should not considered as measures of
financial performance under generally accepted accounting principles. As
the items excluded from Adjusted EBITDA and Adjusted EBITDAR are
significant components in understanding and assessing finance performance,
Adjusted EBITDA and Adjusted EBITDAR should not be considered in isolation
or as alternatives to net income, cash flows generated by or used in
operating, investing or financing activities or other financial statement
data presented in the consolidated financial statements as indicators of
financial performance or liquidity. Because Adjusted EBITDA and Adjusted
EBTIDAR are not measurements determined in accordance with U.S. generally
accepted accounting principles and are thus susceptible to varying
calculations. Adjusted EBITDA and Adjusted EBITDAR as presented may not be
comparable to other similarly titled measures of other companies.



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

   RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA and ADJUSTED EBITDAR
                              (in thousands)


                                                    For the      For the
                                                  Six Months   Six Months
                                                     Ended        Ended
                                                    June 30,     June 30,
                                                      2010         2009
                                                  ------------ ------------
                                                  (unaudited)  (unaudited)

 Total net revenues                               $    947,874 $    936,843
                                                  ------------ ------------

 Net income                                       $     20,171 $     20,339
                                                  ------------ ------------


  Income from continuing operations                     20,767       22,414

  Income tax expense                                    14,431       15,575

  Interest, net                                         23,752       25,191

  Depreciation and amortization                         25,007       21,875
                                                  ------------ ------------

 EBITDA                                           $     83,957 $     85,055

  Loss on sale of assets, net                                -           40
                                                  ------------ ------------

 Adjusted EBITDA                                  $     83,957 $     85,095


  Center rent expense                                   37,362       36,578
                                                  ------------ ------------

 Adjusted EBITDAR                                 $    121,319 $    121,673
                                                  ============ ============

EBITDA is defined as earnings before loss on discontinued operations,
income taxes, interest, net, depreciation and amortization.  Adjusted
EBITDA is defined as EBITDA before loss on sale of assets , net.  Adjusted
EBITDAR is defined as Adjusted EBITDA before center rent expense.  Adjusted
EBITDA and Adjusted EBITDAR are used by management to evaluate financial
performance and resource allocation for each entity within the operating
units and for the Company as a whole.  Adjusted EBITDA and Adjusted EBITDAR
are commonly used as analytical indicators within the healthcare industry
and also serve as measures of leverage capacity and debt service ability.
Adjusted EBITDA and Adjusted EBITDAR should not considered as measures of
financial performance under generally accepted accounting principles.  As
the items excluded from Adjusted EBITDA and Adjusted EBITDAR are
significant components in understanding and assessing finance performance,
Adjusted EBITDA and Adjusted EBITDAR should not be considered in isolation
or as alternatives to net income, cash flows generated by or used in
operating, investing or financing activities or other financial statement
data presented in the consolidated financial statements as indicators of
financial performance or liquidity.  Because Adjusted EBITDA and Adjusted
EBTIDAR are not measurements determined in accordance with U.S. generally
accepted accounting principles and are thus susceptible to varying
calculations.  Adjusted EBITDA and Adjusted EBITDAR as presented may not be
comparable to other similarly titled measures of other companies.



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

  RECONCILIATION OF INCOME (LOSS) FROM CONTINUING OPERATIONS TO ADJUSTED
                        EBITDA and ADJUSTED EBITDAR
                             ($ in thousands)

                 For the Three Months Ended June 30, 2010
                                (unaudited)


                            Rehabi-                     Elimina-
                            litation Medical            tion of
                  Inpatient Therapy  Staffing Other &  Affiliated Consoli-
                  Services  Services Services Corp Seg  Revenue    dated
                  --------  -------  -------  --------  --------  --------
Nonaffiliated
 revenue          $421,720  $30,017  $22,875  $      6  $      -  $474,618
Affiliated revenue       -   21,034      496         -   (21,530)        -
                  --------  -------  -------  --------  --------  --------
  Total revenue   $421,720  $51,051  $23,371  $      6  $(21,530) $474,618
                  --------  -------  -------  --------  --------  --------

Income (loss) from
 continuing
 operations       $ 39,014  $ 3,921  $ 1,802  $(34,469) $      -  $ 10,268
Income tax expense       -        -        -     7,135         -     7,135
Interest, net        2,706        -        -     9,070         -    11,776
Depreciation and
 amortization       11,418      159      182       802         -    12,561
                  --------  -------  -------  --------  --------  --------

  EBITDA          $ 53,138  $ 4,080  $ 1,984  $(17,462) $      -  $ 41,740

Loss on sale of
 assets, net             -        -        -         -         -         -
                  --------  -------  -------  --------  --------  --------

  Adjusted EBITDA $ 53,138  $ 4,080  $ 1,984  $(17,462) $      -  $ 41,740

Center rent
 expense            18,489      118      203         -         -    18,810
                  --------  -------  -------  --------  --------  --------

  Adjusted
   EBITDAR        $ 71,627  $ 4,198  $ 2,187  $(17,462) $      -  $ 60,550
                  ========  =======  =======  ========  ========  ========

  Normalized
   Adjusted
   EBITDA         $ 53,138  $ 4,080  $ 1,984  $(15,214) $      -  $ 43,988
  Normalized
   Adjusted
   EBITDAR        $ 71,627  $ 4,198  $ 2,187  $(15,214) $      -  $ 62,798


   Adjusted EBITDA
            margin    12.6%     8.0%     8.5%                          8.8%
  Adjusted EBITDAR
            margin    17.0%     8.2%     9.4%                         12.8%
        Normalized
   Adjusted EBITDA
            margin    12.6%     8.0%     8.5%                          9.3%
        Normalized
  Adjusted EBITDAR
            margin    17.0%     8.2%     9.4%                         13.2%

See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
 "Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."


See normalizing adjustments in the table "Normalizing Adjustments -
 Quarter Comparison."



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

  RECONCILIATION OF INCOME (LOSS) FROM CONTINUING OPERATIONS TO ADJUSTED
                        EBITDA and ADJUSTED EBITDAR
                             ($ in thousands)

                  For the Six Months Ended June 30, 2010
                                (unaudited)


                           Rehabi-                      Elimina-
                           litation Medical             tion of
                 Inpatient Therapy  Staffing  Other &  Affiliated Consoli-
                 Services  Services Services  Corp Seg  Revenue    dated
                 --------  --------  -------  --------  --------  --------
Nonaffiliated
 revenue         $842,248  $ 59,381  $46,231  $     14  $      -  $947,874
Affiliated
 revenue                -    42,187      640         -   (42,827)        -
                 --------  --------  -------  --------  --------  --------
  Total revenue  $842,248  $101,568  $46,871  $     14  $(42,827) $947,874
                 --------  --------  -------  --------  --------  --------

Income (loss)
 from continuing
 operations      $ 76,771  $  7,797  $ 3,283  $(67,084) $      -  $ 20,767
Income tax
 expense                -         -        -    14,431         -    14,431
Interest, net       5,517         -       (1)   18,236         -    23,752
Depreciation and
 amortization      22,698       311      362     1,636         -    25,007
                 --------  --------  -------  --------  --------  --------

  EBITDA         $104,986  $  8,108  $ 3,644  $(32,781) $      -  $ 83,957

Loss on sale of
 assets, net            -         -        -         -         -         -
                 --------  --------  -------  --------  --------  --------

  Adjusted
   EBITDA        $104,986  $  8,108  $ 3,644  $(32,781) $      -  $ 83,957

Center rent
 expense           36,709       240      413         -         -    37,362
                 --------  --------  -------  --------  --------  --------

  Adjusted
   EBITDAR       $141,695  $  8,348  $ 4,057  $(32,781) $      -  $121,319
                 ========  ========  =======  ========  ========  ========

  Normalized
   Adjusted
   EBITDA        $104,986  $  8,108  $ 3,644  $(30,533) $      -  $ 86,205
  Normalized
   Adjusted
   EBITDAR       $141,695  $  8,348  $ 4,057  $(30,533) $      -  $123,567


  Adjusted EBITDA
           margin    12.5%      8.0%     7.8%                          8.9%
 Adjusted EBITDAR
           margin    16.8%      8.2%     8.7%                         12.8%
       Normalized
  Adjusted EBITDA
           margin    12.5%      8.0%     7.8%                          9.1%
       Normalized
         Adjusted
   EBITDAR margin    16.8%      8.2%     8.7%                         13.0%

See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
 "Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

See normalizing adjustments in the table "Normalizing Adjustments -
 Quarter Comparison."



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

  RECONCILIATION OF INCOME (LOSS) FROM CONTINUING OPERATIONS TO ADJUSTED
                        EBITDA and ADJUSTED EBITDAR
                             ($ in thousands)

                 For the Three Months Ended June 30, 2009
                                (unaudited)


                            Rehabi-                     Elimina-
                            litation Medical            tion of
                  Inpatient Therapy  Staffing Other &  Affiliated Consoli-
                  Services  Services Services Corp Seg  Revenue    dated
                  --------  -------  -------  --------  --------  --------
Nonaffiliated
 revenue          $416,451  $26,155  $26,097  $     10  $      -  $468,713
Affiliated revenue       -   18,360      563         -   (18,923)        -
                  --------  -------  -------  --------  --------  --------
  Total revenue   $416,451  $44,515  $26,660  $     10  $(18,923) $468,713
                  --------  -------  -------  --------  --------  --------

Income (loss) from
 continuing
 operations       $ 38,804  $ 3,077  $ 2,289  $(33,359) $      -  $ 10,811
Income tax expense       -        -        -     7,517         -     7,517
Interest, net        3,111        -       (1)    9,355         -    12,465
Depreciation and
 amortization       10,118      131      232       672         -    11,153
                  --------  -------  -------  --------  --------  --------

  EBITDA          $ 52,033  $ 3,208  $ 2,520  $(15,815) $      -  $ 41,946
Loss on sale of
 assets, net             6       34        -         -         -        40
                  --------  -------  -------  --------  --------  --------

  Adjusted EBITDA $ 52,039  $ 3,242  $ 2,520  $(15,815) $      -  $ 41,986

Center rent
 expense            17,868      114      233         -         -    18,215
                  --------  -------  -------  --------  --------  --------

  Adjusted
   EBITDAR        $ 69,907  $ 3,356  $ 2,753  $(15,815) $      -  $ 60,201
                  ========  =======  =======  ========  ========  ========

  Normalized
   Adjusted
   EBITDA         $ 56,339  $ 3,242  $ 2,520  $(15,815) $      -  $ 46,286
  Normalized
   Adjusted
   EBITDAR        $ 74,207  $ 3,356  $ 2,753  $(15,815) $      -  $ 64,501


   Adjusted EBITDA
            margin    12.5%     7.3%     9.5%                          9.0%
  Adjusted EBITDAR
            margin    16.8%     7.5%    10.3%                         12.8%
        Normalized
   Adjusted EBITDA
            margin    13.5%     7.3%     9.5%                          9.9%
        Normalized
  Adjusted EBITDAR
            margin    17.8%     7.5%    10.3%                         13.8%

See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
 "Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

See normalizing adjustments in the table "Normalizing Adjustments -
 Quarter Comparison."



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

  RECONCILIATION OF INCOME (LOSS) FROM CONTINUING OPERATIONS TO ADJUSTED
                        EBITDA and ADJUSTED EBITDAR
                             ($ in thousands)

                  For the Six Months Ended June 30, 2009
                                (unaudited)


                            Rehabi-                     Elimina-
                            litation Medical            tion of
                  Inpatient Therapy  Staffing Other &  Affiliated Consoli-
                  Services  Services Services Corp Seg  Revenue    dated
                  --------  -------  -------  --------  --------  --------
Nonaffiliated
 revenue          $831,687  $51,671  $53,471  $     14  $      -  $936,843
Affiliated revenue       -   36,576    1,123         -   (37,699)        -
                  --------  -------  -------  --------  --------  --------
  Total revenue   $831,687  $88,247  $54,594  $     14  $(37,699) $936,843
                  --------  -------  -------  --------  --------  --------

Income (loss) from
 continuing
 operations       $ 80,598  $ 5,966  $ 4,310  $(68,460) $      -  $ 22,414
Income tax expense       -        -        -    15,575         -    15,575
Interest, net        6,322       (2)      (1)   18,872         -    25,191
Depreciation and
 amortization       19,845      259      422     1,349         -    21,875
                  --------  -------  -------  --------  --------  --------

  EBITDA          $106,765  $ 6,223  $ 4,731  $(32,664) $      -  $ 85,055
Loss on sale of
 assets, net             6       34        -         -         -        40
                  --------  -------  -------  --------  --------  --------

  Adjusted EBITDA $106,771  $ 6,257  $ 4,731  $(32,664) $      -  $ 85,095

Center rent
 expense            35,872      229      477         -         -    36,578
                  --------  -------  -------  --------  --------  --------

  Adjusted
   EBITDAR        $142,643  $ 6,486  $ 5,208  $(32,664) $      -  $121,673
                  ========  =======  =======  ========  ========  ========

  Normalized
   Adjusted
   EBITDA         $111,071  $ 6,257  $ 4,731  $(32,664) $      -  $ 89,395
  Normalized
   Adjusted
   EBITDAR        $146,943  $ 6,486  $ 5,208  $(32,664) $      -  $125,973


   Adjusted EBITDA
            margin   12.8%     7.1%     8.7%                          9.1%
  Adjusted EBITDAR
            margin   17.2%     7.3%     9.5%                         13.0%
        Normalized
   Adjusted EBITDA
            margin   13.4%     7.1%     8.7%                          9.5%
        Normalized
  Adjusted EBITDAR
            margin   17.7%     7.3%     9.5%                         13.4%

See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
 "Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

See normalizing adjustments in the table "Normalizing Adjustments -
 Quarter Comparison."



                Sun Healthcare Group, Inc. and Subsidiaries
                      Selected Operating Statistics
                          Continuing Operations


                            For the                     For the
                      Three Months Ended           Six Months Ended
                           June 30,                    June 30,
                    ----------------------      ----------------------
                      2010          2009          2010          2009
                    --------      --------      --------      --------
Consolidated
 Company

Revenues -
 Non-affiliated (in
 thousands)
  Inpatient
   Services         $421,720      $416,451      $842,248      $831,687
  Rehabilitation
   Therapy Services   30,017        26,155        59,381        51,671
  Medical Staffing
   Services           22,875        26,097        46,231        53,471
  Other - non-core
   businesses              6            10            14            14
                    --------      --------      --------      --------
    Total           $474,618      $468,713      $947,874      $936,843
                    ========      ========      ========      ========


Revenue Mix -
 Non-affiliated (in
 thousands)
  Medicare          $141,520  30% $137,863  29% $283,701  30% $279,739  30%
  Medicaid           190,596  40%  188,030  40%  379,920  40%  369,480  39%
  Private and Other  113,475  24%  112,784  24%  225,881  24%  227,282  24%
  Managed Care /
   Insurance          24,045   5%   25,789   6%   48,458   5%   52,198   6%
  Veterans             4,982   1%    4,247   1%    9,914   1%    8,144   1%
                    -------- ---  -------- ---  -------- ---  -------- ---
    Total           $474,618 100% $468,713 100% $947,874 100% $936,843 100%
                    ======== ===  ======== ===  ======== ===  ======== ===



Inpatient Services
 Stats

 Number of centers:      202           202           202           202
 Number of
  available beds:     22,427        22,450        22,427        22,450
 Occupancy %:           86.7%         87.8%         87.1%         88.2%


 Payor Mix % based
  on patient days:
   Medicare - SNF
    Beds                15.3%         15.7%         15.4%         16.1%
   Managed care /
    Ins. - SNF Beds      4.0%          4.1%          4.0%          4.2%
                    --------      --------      --------      --------
       Total SNF
        skilled mix     19.3%         19.8%         19.4%         20.3%
                    --------      --------      --------      --------
  Medicare              14.0%         14.3%         14.1%         14.7%
  Medicaid              62.1%         60.9%         62.1%         60.4%
  Private and Other     19.1%         20.0%         18.9%         20.0%
  Managed Care /
   Insurance             3.6%          3.8%          3.7%          3.9%
  Veterans               1.2%          1.0%          1.2%          1.0%

 Revenue Mix % of
  revenues:
   Medicare - SNF
    Beds                32.1%         32.6%         32.3%         33.2%
   Managed care /
    Ins. - SNF Beds      6.0%          6.5%          6.1%          6.6%
                    --------      --------      --------      --------
       Total SNF
        skilled mix     38.1%         39.1%         38.4%         39.8%
                    --------      --------      --------      --------
  Medicare              32.4%         32.1%         32.6%         32.7%
  Medicaid              45.2%         45.1%         45.1%         44.4%
  Private and Other     15.6%         15.6%         15.4%         15.7%
  Managed Care /
   Insurance             5.6%          6.2%          5.7%          6.2%
  Veterans               1.2%          1.0%          1.2%          1.0%


 Revenues PPD:
  LTC only Medicare
   (Part A)         $ 464.00      $ 454.44      $ 464.99      $ 452.37
  Medicare Blended
   Rate (Part A &
   B)               $ 504.18      $ 494.37      $ 503.24      $ 489.93
  Medicaid          $ 173.30      $ 171.77      $ 173.19      $ 170.25
  Private and Other $ 185.66      $ 175.27      $ 185.99      $ 176.10
  Managed Care /
   Insurance        $ 367.89      $ 376.44      $ 365.84      $ 375.17
  Veterans          $ 240.63      $ 234.73      $ 242.86      $ 227.45


Rehab contracts

 Affiliated              131           121           131           121
 Non-affiliated          335           326           335           326

 Average Qtrly
  Revenue per
  Contract          $    110      $    100      $    109      $     99
  (in thousands)



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

               NORMALIZING ADJUSTMENTS - QUARTER COMPARISON
                  (in thousands, except per share data)


                               AS REPORTED - 2nd QUARTER 2010
                 ---------------------------------------------------------
                                                  Income
                                                   from
                                                  Contin-
                                                   uing
                         Adjusted Adjusted         Opera-             Net
                 Revenue  EBITDAR  EBITDA Pre-tax  tions  Disc Ops  Income
                 -------- ------- ------- ------- ------- -------  -------

As Reported 2nd
 QUARTER 2010    $474,618 $60,550 $41,740 $17,403 $10,268 $  (295) $ 9,973
       Percent of
         Revenue             12.8%    8.8%    3.7%    2.2%   -0.1%     2.1%

Normalizing
 Adjustments:

 Separation
  transaction
  costs                 -   2,248   2,248   2,248   1,326       -    1,326
                 -------- ------- ------- ------- ------- -------  -------

Normalized As
 Reported - 2nd
 QUARTER 2010    $474,618 $62,798 $43,988 $19,651 $11,594 $  (295) $11,299
                 ======== ======= ======= ======= ======= =======  =======
       Percent of
         Revenue             13.2%    9.3%    4.1%    2.4%   -0.1%     2.4%

Diluted EPS:
      As Reported                                 $  0.23 $ (0.01) $  0.22
    As Normalized                                 $  0.26 $ (0.01) $  0.25


                               AS REPORTED - 2nd QUARTER 2009
                 ---------------------------------------------------------
                                                  Income
                                                   from
                                                  Contin-
                                                   uing
                         Adjusted Adjusted         Opera-             Net
                 Revenue  EBITDAR  EBITDA Pre-tax  tions  Disc Ops  Income
                 -------- ------- ------- ------- ------- -------  -------

As Reported - 2nd
 QUARTER 2009    $468,713 $60,201 $41,986 $18,328 $10,811 $  (715) $10,096
       Percent of
         Revenue             12.8%    9.0%    3.9%    2.3%   -0.2%     2.2%

Normalizing
 Adjustments:

 Prior periods'
  self-insurance
  costs                 -   4,300   4,300   4,300   2,537     348    2,885
                 -------- ------- ------- ------- ------- -------  -------

Normalized As
 Reported - 2nd
 QUARTER 2009    $468,713 $64,501 $46,286 $22,628 $13,348 $  (367) $12,981
                 ======== ======= ======= ======= ======= =======  =======
       Percent of
         Revenue             13.8%    9.9%    4.8%    2.8%   -0.1%     2.8%

Diluted EPS:
      As Reported                                 $  0.25 $ (0.02) $  0.23
    As Normalized                                 $  0.30 $     -  $  0.30

See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
"Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

Normalizing adjustments are transactions or adjustments not related to
ongoing operations and consist of Separation transaction costs and prior
periods' self-insurance costs.

Since normalizing adjustments are not measurements determined  in
accordance with U.S. generally accepted accounting principles and are thus
susceptible to varying calculations and interpretations, the information
presented herein may not be comparable to other similarly described
information of other companies.



                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

            NORMALIZING ADJUSTMENTS - YEAR TO DATE COMPARISON
                  (in thousands, except per share data)


                               AS REPORTED - SIX MONTHS 2010
                 ---------------------------------------------------------
                                                 Income
                                                  from
                                                 Contin-
                                                  uing
                        Adjusted Adjusted         Opera-             Net
               Revenue   EBITDAR  EBITDA Pre-tax  tions   Disc Ops  Income
               -------- -------- ------- ------- -------- -------  -------

As Reported -
 Six Months
 2010          $947,874 $121,319 $83,957 $35,198 $20,767 $   (596) $20,171
     Percent of
       Revenue              12.8%    8.9%    3.7%    2.2%    -0.1%     2.1%

Normalizing
 Adjustments:

 Separation
  transaction
  costs               -    2,248   2,248   2,248   1,326        -    1,326
               -------- -------- ------- ------- ------- --------  -------

Normalized As
 Reported - Six
 Months 2010   $947,874 $123,567 $86,205 $37,446 $22,093 $   (596) $21,497
               ======== ======== ======= ======= ======= ========  =======
     Percent of
       Revenue              13.0%    9.1%    4.0%    2.3%    -0.1%     2.3%

Diluted EPS:
    As Reported                                  $  0.47 $  (0.01) $  0.46
  As Normalized                                  $  0.50 $  (0.01) $  0.49


                               AS REPORTED - SIX MONTHS 2009
                 ---------------------------------------------------------
                                                 Income
                                                  from
                                                 Contin-
                                                  uing
                        Adjusted Adjusted         Opera-             Net
               Revenue   EBITDAR  EBITDA Pre-tax  tions   Disc Ops  Income
               -------- -------- ------- ------- -------- -------  -------

As Reported -
 Six Months
 2009          $936,843 $121,673 $85,095 $37,989 $22,414 $ (2,075) $20,339

     Percent of
       Revenue              13.0%    9.1%    4.1%    2.4%    -0.2%     2.2%

Normalizing
 Adjustments:

 Prior periods'
  self-insurance
  costs               -    4,300   4,300   4,300   2,537      348    2,885
               -------- -------- ------- ------- ------- --------  -------

Normalized As
 Reported - Six
 Months 2009   $936,843 $125,973 $89,395 $42,289 $24,951 $ (1,727) $23,224
               ======== ======== ======= ======= ======= ========  =======
     Percent of
       Revenue              13.4%    9.5%    4.5%    2.7%    -0.2%     2.5%

Diluted EPS:
    As Reported                                  $  0.51 $  (0.05) $  0.46
  As Normalized                                  $  0.57 $  (0.04) $  0.53

See definitions of Adjusted EBITDA and Adjusted EBITDAR in the table
"Reconciliation of Net Income to Adjusted EBITDA and Adjusted EBITDAR."

Normalizing adjustments are transactions or adjustments not related to
ongoing operations and consist of Separation transaction costs and prior
periods' self-insurance costs.

Since normalizing adjustments are not measurements determined  in
accordance with U.S. generally accepted accounting principles and are thus
susceptible to varying calculations and interpretations, the information
presented herein may not be comparable to other similarly described
information of other companies.

Contact:
Investor Inquiries
(505) 468-2341

Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business, Medicare

Vanguard Health Systems, Inc. Invites You to Join Its 2010 Fourth Quarter and Year-End Earnings Conference Call/Webcast

Posted on July 28, 2010 Written by Editor

SOURCE: Vanguard Health Systems, Inc.

NASHVILLE, TN–(Marketwire – July 28, 2010) – In conjunction with Vanguard Health Systems,
Inc.’s 2010 Fourth Quarter and Year-End Earnings press release, you are
invited to listen to its conference call that will be broadcast live over
the Internet with senior management of Vanguard discussing the operating
results.

WHAT:    Vanguard Health Systems, Inc.'s 2010 Fourth Quarter and Year-End
         Earnings Conference Call on the Web

WHEN:    Thursday, August 26, 2010 at 11:00 a.m. Eastern time

WHERE:   http://www.vanguardhealth.com or
         http://www.visualwebcaster.com/event.asp?id=71303

HOW:     Live over the Internet -- Simply log on to the web at one of the
         addresses above.  If you connect through www.vanguardhealth.com,
         select the "Latest News" link on the Investor Relations page.

Vanguard Health Systems, Inc. will release its 2010 fourth quarter and
year-end operating results on Wednesday, August 25, 2010, after 4:00 p.m.
Eastern time. The Company’s earnings press release will be posted under
the “Latest News” link on the Investor Relations page of the Company’s web
site www.vanguardhealth.com.

Vanguard Health Systems, Inc. owns and operates 15 acute care hospitals and
complementary facilities and services in Chicago, Illinois; Phoenix,
Arizona; San Antonio, Texas and Massachusetts.

If you are unable to participate during the live Webcast, the call will be
archived on our web site www.vanguardhealth.com. To access the replay,
click on the “Latest News” link on the Investor Relations page of our web
site.

Filed Under: Healthcare Business, Hospitals and Health Systems

Conference call on NicOx’s 2010 Half Year Financial Results

Posted on July 28, 2010 Written by Editor

SOURCE: NICOX

SOPHIA ANTIPOLIS, FRANCE–(Marketwire – July 28, 2010) –


TO: Investors, Analysts and Journalists

WHAT: NicOx S.A. will release its 2010 half year financial results on July
30 before the opening of the market trading in France and will host a
conference call at 3:00 pm CET.

WHO: Michele Garufi, Chairman and CEO

Eric Castaldi, Chief Financial Officer

Gavin Spencer, VP Business Development

WHEN: Friday July 30 – 3:00 pm CET (2:00 pm UK – 9:00 am EST)

Phone number: +44 (0)20 7138 0845 or +1 212 444 0895 (for conference call
and Q&A session).

A presentation will be available on NicOx’s website: www.nicox.com.

A replay of the conference call will be available from July 30 at 6:00 pm
CET until August 6 midnight. To listen to the replay, dial +44 (0) 20 7111
1244 or +1 347 366 9565 – Access code: 3771435?

Thanks to confirm your participation to Irène Lalande, Investor and
Media Relations Coordinator. Tel: +33 (0)4 97 24 53 11 / [email protected]

The Company notably draws the investors’ attention to the following risk
factors:

– Risques liés à la dépendance de la Société
à l’égard du naproxcinod (Risks related to the Company’s
dependence on the success of its lead product naproxcinod)

– Risques commerciaux et développements cliniques (Clinical
developments and commercial risk)

– Risques liés aux contraintes réglementaires et à la
lenteur des procédures d’approbation (Risks linked to regulatory
constraints and slow approval procedures)

– Manque de capacités dans les domaines de la vente et du marketing
(Lack of sales and marketing capabilities)

– Incertitude relative aux prix des médicaments et aux régimes de
remboursement, ainsi qu’en matière de réforme des régimes
d’assurance maladie (Uncertainty on drug pricing and reimbursement policies
and on the reforms of the health insurance systems)

NicOx (Bloomberg: COX:FP, Reuters: NCOX.PA) is a pharmaceutical company
focused on the research, development and future commercialization of drug
candidates. NicOx is applying its proprietary nitric oxide-donating R&D
platform to develop an internal portfolio of New Molecular Entities (NME)
for the potential treatment of inflammatory, cardio-metabolic and
ophthalmological diseases.

NicOx’s lead investigational compound is naproxcinod, an NME and a first-
in-class CINOD (Cyclooxygenase-Inhibiting Nitric Oxide-Donating) anti-
inflammatory drug candidate developed for the relief of the signs and
symptoms of osteoarthritis (OA). In July 2010, the U.S. Food and Drug
Administration (FDA) provided a Complete Response Letter to the New Drug
Application (NDA) for naproxcinod stating that it does not approve the
naproxcinod application. The naproxcinod Marketing Authorization
Application (MAA) submitted by NicOx in December 2009 is currently under
review by the European Medicines Agency (EMA).

In addition to naproxcinod, NicOx’s pipeline includes several nitric oxide-
donating NMEs, which are in development internally and with partners,
including Merck & Co., Inc. and Bausch + Lomb, for the treatment of
hypertension, cardiometabolic diseases, eye diseases and dermatological
diseases.

NicOx S.A. is headquartered in France and is listed on Euronext Paris
(Compartment B: Mid Caps).

This information is provided by HUGIN

Filed Under: Healthcare Business

Vicor Technologies’ Chief Medical Officer to Present Abstract on Hypovolemia Study Results at the AABB 2010 Annual Meeting

Posted on July 28, 2010 Written by Editor

SOURCE: Vicor Technologies, Inc.

BOCA RATON, FL–(Marketwire – July 28, 2010) –  David H. Fater, CEO of Vicor Technologies, Inc. (OTCBB: VCRT), today announced that Vicor Chief Medical Officer Dr. Daniel Weiss will present an abstract of the results of a pilot study to test the ability of Vicor’s PD2i® nonlinear algorithm to detect acute hypovolemia at the AABB 2010 Annual Meeting. Vicor Technologies is a biotechnology company focused on the development of innovative, non-invasive medical devices using its patented, proprietary PD2i® nonlinear algorithm and software. Vicor is currently in the process of commercializing diagnostics that accurately risk stratify specific target populations for future pathological events including cardiac death resulting from arrhythmia or pump failure, and autonomic nervous system dysfunction, and trauma victims in need of lifesaving intervention.

Dr. Weiss will present Mild Hemorrhage Results in Observable Changes in Heart Rate Variability (S106-040B) on October 12, 2010 at 3:15pm in room 339/340, during the session entitled Donor Recruitment, Retention and Adverse Events: Hemoglobin and Iron. The AABB Annual Meeting & CTTXPO 2010 will be held at the Baltimore Convention Center on October 9-12, 2010. 

“We’re honored to have Dr. Weiss’s abstract of our hypovolemia study selected for presentation before this prestigious group. We believe the results achieved by the PD2i® in this small pilot study suggest the prospect of incorporating the PD2i® nonlinear algorithm into a noninvasive diagnostic for use in identifying patients who are bleeding internally. We hope that having the opportunity to share these results with those active in the field of transfusion medicine and cellular technologies worldwide will further opportunities to advance study of the PD2i® as a noninvasive diagnostic to detect acute hypovolemia, and further our commercialization efforts for the PD2i®,” stated Mr. Fater.

The study on which the abstract is based was conducted in cooperation with the University of Mississippi Medical Center and Mississippi Blood Services on December 12, 2009 in Smithdale, MS. The goal of the study was to test the ability of Vicor’s PD2i® nonlinear algorithm to identify acute hypovolemia in blood donors as a preliminary step toward ascertaining whether it could be a useful noninvasive diagnostic for detecting blood loss from internal bleeding. All 18 participants in the pilot study were tested prior to donation to determine a baseline PD2i® value, and re-tested during and after collection. The average PD2i® value of participants prior to donation was 2.60; the average PD2i® value following donation was 1.80. With a P value of 0.001, the study results are highly statistically significant; this indicates a better than 99% probability that the results were not achieved randomly.

The AABB is an international, not-for-profit association representing individuals and institutions involved in the field of transfusion medicine and cellular therapies. The association is committed to improving health by developing and delivering standards, accreditation and educational programs that focus on optimizing patient and donor care and safety. AABB membership consists of nearly 2,000 institutions and 8,000 individuals, including physicians, nurses, scientists, researchers, administrators, medical technologists and other health care providers. Members are located in more than 80 countries.

About Vicor Technologies, Inc.
Vicor Technologies is focused on commercializing innovative non-invasive diagnostics employing its patented, proprietary point correlation dimension algorithm (PD2i®). The PD2i® nonlinear algorithm is a deterministic, nonlinear measure of electrophysiological potentials that predicts future pathological events with a high degree of accuracy in target populations.

The PD2i Analyzer™, which has FDA 510(k) marketing clearance, measures heart rate variability. Physicians performing diagnostic tests with the PD2i Analyzer™ are able to receive reimbursement under existing CPT codes. The PD2i VS™ (Vital Sign), in clinical trials under a collaborative effort with the U.S. Army Institute for Surgical Research (http://www.usaisr.amedd.army.mil/), risk stratifies combat and civilian trauma victims. The PD2i CA™ (Cardiac Analyzer), in various clinical trials, identifies patients at elevated risk of cardiac death resulting from arrhythmia or pump failure.

Vicor anticipates developing additional applications utilizing the PD2i® nonlinear algorithm to enable early detection and risk stratification for a variety of other disorders and diseases. Additional information is available at www.vicortech.com.

Disclaimer
The appearance of name-brand institutions or products in this media release does not constitute endorsement by the U.S. Army Medical Research and Materiel Command, the Department of the Army, Department of Defense, the U.S. Government, or the AABB of the information, products or services contained therein.

Caution Regarding Forward-Looking Statements
Forward-looking statements in this press release are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The following factors, among others, could cause our actual results to differ: our ability to generate revenues from the sale of the PD2i Analyzer™; our ability to obtain FDA approval of our 510(k) submission to secure a claim for the PD2i CA™(Cardiac Analyzer) for risk stratifying congestive heart failure patients at elevated risk of cardiac mortality and our ability to obtain marketing clearance from the FDA for the PD2i VS™ (Vital Sign) for military and civilian applications; our ability to continue to receive financing sufficient to continue operations and complete critical clinical trials; our ability to continue as a going concern; our ability to successfully develop products based on our technologies; our ability to obtain and maintain adequate levels of third-party reimbursement for our products; the impact of competitive products and pricing; our ability to receive regulatory approval for our products; the ability of third-party contract research organizations to perform preclinical testing and clinical trials for our technologies; the ability of third-party manufacturers to manufacture our products; our ability to retain the services of our key personnel; our ability to market and sell our products successfully; our ability to protect our intellectual property; product liability; changes in federal income tax laws and regulations; general market conditions in the medical device and pharmaceutical industries; and other matters that are described in Vicor’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and subsequent filings with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date of the press release, and we assume no obligation to update forward-looking statements or the reasons why actual results could differ.

Release 10-12

CORPORATE CONTACT
David H. Fater
Vicor Technologies, Inc.
561.995.7313
[email protected]

INVESTOR CONTACT
Richard Moyer
Cameron Associates
212.554.5466
[email protected]

MEDIA CONTACT
Robin Schoen
Robin Schoen Public Relations
215.504.2122
[email protected]

Click here to see all recent news from this company

Filed Under: Healthcare Business, Public Health and Research

AcuMedSpa Holdings, Inc. to Initiate Share Buyback Program

Posted on July 27, 2010 Written by Editor

SOURCE: AcuMedSpa Holdings, Inc.

TAMARAC, FL–(Marketwire – July 27, 2010) –  AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ), a provider of Medical Aesthetic, Spa and Acupuncture services, announced it is initiating a share buyback program in order to lower the outstanding share count and increase shareholder value.

The company’s board of directors is reviewing and wants to purchase shares of AcuMedSpa on the open market and would like to retire those shares back into the treasury. The goal of the program is to purchase up to 10 million shares which will be retired immediately in order to reduce the outstanding shares by the total amount of shares purchased. The current outstanding share total is 146,610,679.

In recent months the company has taken important steps to improve shareholder value by reforming the share structure. Both the outstanding and the authorized shares have been reduced, and decision making power has been given to shareholders over all major decisions including all future share structure changes.

AcuMedSpa Holdings President Gregory Antoine, stated, “This share buyback program is the latest in a series of actions we have taken in our ongoing effort to improve shareholder value. Many small company investors have grown accustomed to share dilution, but we are in effect doing the opposite of dilution by eventually reducing the outstanding shares.” Mr. Antoine continued, “Reduced outstanding shares will benefit the shareholders in several ways and improves the company’s financials. Calculating our earnings with a lower outstanding share total will increase our earnings per share and reflect better on the balance sheet.”

Please follow our progress on twitter: http://twitter.com/acumedinc

For additional info please visit our website: http://www.acumedspa.com/

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and AcuMedSpa Holdings, Inc. takes no obligation to update such statements.

Contacts:

Gregory Antoine
1-877-8-ACUMED

Filed Under: Healthcare Business

Twenty-Seven Extendicare Health Centers Earn National Recognition for Continuous Quality Improvement

Posted on July 26, 2010 Written by Editor

MILWAUKEE, WISCONSIN–(Marketwire – July 26, 2010) – Extendicare Health Services, Inc. announced today that 27 of its health centers are the proud recipients of the American Health Care Association and the National Center for Assisted Living’s (AHCA/NCAL) Bronze – Commitment to Quality, National Quality Award in recognition of their strong commitment to continuous quality improvement.

The health centers receiving the award are:

“The AHCA/NCAL Quality Awards – comprised of three levels, Bronze – Commitment to Quality award; a more rigorous Silver – Achievement in Quality award; and a comprehensive Gold – Excellence in Quality award – are the most prestigious recognition of quality within the long term care profession,” stated AHCA/NCAL President and CEO, Bruce Yarwood. This Bronze – Commitment to Quality award recognizes dedicated frontline caregivers, administrators, nurses and physicians, who demonstrate their commitment to quality of care in order to meet the needs for our nation’s most vulnerable population.

As a Bronze award recipient, these health centers demonstrated their organization-wide commitment to a customer-focused facility mission, defined its principal customers and their expectations, and indicated ways that they are striving to meet their needs.

“The Quality Award program is an independently judged, criteria-based, award program. This year, only 456 long term care centers nationwide received this noteworthy award and we are pleased to be counted among them. We are proud of this accomplishment and thank our team members for their strong commitment to excellence,” said Tim Lukenda, Chairman and CEO of Extendicare Health Services, Inc.

AHCA/NCAL’s Quality Award is modeled after the criteria of the Malcolm Baldrige National Quality Award, the nation’s premier award recognizing distinguished achievements. AHCA/NCAL’s award is designed to support both continuous quality improvement efforts in long term care by promoting quality awareness and education and to recognize quality achievements.

About Extendicare

Extendicare Health Services, Inc. located in Milwaukee, Wisconsin is a wholly owned subsidiary of Extendicare Real Estate Investment Trust, or Extendicare REIT (TSX symbol “EXE.UN”). Extendicare REIT is a leading North American provider of long-term and short-term senior care services through its network of owned and operated health care centers. We employ 37,700 qualified and experienced individuals dedicated to helping people live better through a commitment to quality service that includes post-acute care, rehabilitative therapies and home health care services. Our 258 senior care centers in North America have capacity for approximately 28,900 residents. 

Filed Under: Healthcare Business, Senior Care

SREH Announces 3 Year Revenue Projections to Gross $5 Million for Scientific News International

Posted on July 23, 2010 Written by Editor

SOURCE: Strategic Rare Earth Metals, Inc.

SNI Captures Promising Revenue Potential With Non-Biased Medical Reporting in Major Fields

NEW YORK, NY–(Marketwire – July 23, 2010) –  (PINKSHEETS: SREH) — SREH Scientific News International (www.scientificnewsroom.com) releases its subscription-based gross revenue projections today as it prepares for an upcoming wave of fall medical conferences for its industry reporting brainchild, www.scientificnewsroom.com.

The projections have been laid out conservatively and factors in a variable attrition rate. “Further,” states CEO Anthony Dibiase, “these figures were calculated with an assumption that only the lower subscription tier was selected by all members. We did this to remain conservative in our projections and even a fraction of doctors choosing to subscribe as premium members would have a significant impact on these numbers. As well, these figures are only based on subscription fees and do not include iPhone app sales, doctor2doctor social networking platform upgrades or doctor2doctor prospective ad revenue.”

SNI Execs are confident it can reach at least 10% of its target market by July 31, 2011 resulting in more than $1 million in gross revenues there. SNI target market includes professionals from all of the major fields the site currently covers: Cardiology, Gastroenterology, Hematology, Nephrology, Oncology, Primary Care, Rheumatology, Urology and Radiology. By year 3, the site expects to reach approximately $5 million in subscription fees alone. “With supplementary medical fields, increased conference attendance, additional iPhone apps and doctor2doctor revenues, we release these projections with the understanding that they are only a fraction of revenues overall for the company. Expanded projections will be released in the near future to reflect additional revenue streams,” comments Dibiase.

3 mos ending 3 mos ending 3 mos ending 3 mos ending
Oct 31, 2010 Jan 31, 2011 Apr 30, 2011 July 31, 2011
Total Subscriptions Sold:      
End of Period      
3,018 6,194 11,626 19,347
Gross Revenue:      
End of Period      
$75,450 $230,300 $520,950 $1,004,625
       
       
       
       
3 mos ending 3 mos ending 3 mos ending 3 mos ending
Oct 31, 2011 Jan 31, 2012 Apr 30, 2012 July 31, 2012
Total Subscriptions Sold:      
End of Period      
25,085 30,897 34,516 38,004
Gross Revenue:      
End of Period      
$627,125 $1,399,550 $2,262,450 $3,212,550
       
       
       
       
3 mos ending 3 mos ending 3 mos ending 3 mos ending
Oct 31, 2012 Jan 31, 2013 Apr 30, 2013 July 31, 2013
Total Subscriptions Sold:      
End of Period      
42,568 47,521 52,096 57,008
Gross Revenue:      
End of Period      
$1,064,200 $2,252,225 $3,554,625 $4,979,825

CUTTING EDGE MEDICAL MEETING NEWS EXCLUSIVELY AT Scientific News International! (www.scientificnewsroom.com) is SREH’s premiere all-in-one platform for medical conference and news information focusing on Cardiology, Gastroenterology, Hematology, Nephrology, Oncology, Primary Care, Rheumatology and Urology. The site is the web’s only online resource for medical professionals with access to the latest, cutting edge data presented at major medical meetings worldwide. Staffed by global medical writers, SNI reports the most current research and therapy findings directly. The site’s profitability is IP and subscription based without bias from any medical or pharmaceutical provider. 

In the beginning, there was… Fishing, Manga, global tide reports and more! Get your iPhoneMobile2Earth (www.mobile2earth.com) app now. Choose from the iPhone King James Bible, fishing reports worldwide, Japanese e-books and comics and so much more! Get ready, as Mobile2Earth unleashes phase 1 of its iPhone app releases for mass consumption.

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

CONTACT:
SRE Holdings Dba Strategic Rare Earth Metals
[email protected]

Filed Under: Healthcare Business

Danone Completes Acquisition of Medical Nutrition USA, Inc.

Posted on July 22, 2010 Written by Editor

SOURCE: Medical Nutrition USA, Inc.

ENGLEWOOD, NJ–(Marketwire – July 22, 2010) –  Medical Nutrition USA, Inc. (NASDAQ: MDNU) (and referred to herein as “MNI”), a developer and distributor of nutrition-medicine products, today announced the completion of its previously announced merger with a subsidiary of Danone North America, Inc. (“Danone”). The closing of the merger occurred on Thursday, July 22, 2010. As a result of the merger, all of the outstanding common stock of MNI has been converted into the right to receive $4.00 per share in cash as set forth in the Agreement and Plan of Merger, dated as of June 10, 2010, which was attached as Exhibit 2.1 to MNI’s Current Report on Form 8-K filed on June 14, 2010 with the Securities and Exchange Commission. MNI is now a wholly owned subsidiary of Danone and public trading of MNI’s common stock on the NASDAQ Capital Market will cease prior to the commencement of trading on July 23, 2010.

About Medical Nutrition USA, Inc.
Medical Nutrition USA develops and distributes products for the nutritionally at risk who are under medical supervision. Its products are used primarily in long-term care facilities, hospitals, dialysis clinics and bariatric clinics. The Company’s product lines include Pro-Stat®, Fiber-Stat®, UTI-Stat® and Diff-Stat® as well as private label products. Additional information is available at www.mdnu.com.

About Danone
Danone is a Fortune 500 company and one of the most successful healthy food companies in the world. Its mission is to bring health through food to as many people as possible. Fulfilling this mission is a major contributor to Danone’s continuous rapid growth. Danone, with 160 plants and around 80,000 employees, has a presence in all five continents and over 120 countries. In 2009, Danone recorded EUR 15 billion in sales. Danone enjoys leading positions on healthy food in four businesses: fresh dairy products (#1 worldwide), water (#2 on the packaged water market), baby nutrition (#2 worldwide) and medical nutrition. Listed on Euronext Paris, Danone is also ranked among the main indexes of social responsibility: Dow Jones Sustainability Index Stoxx and World, ASPI Eurozone and Ethibel Sustainability index.

Contacts:
Medical Nutrition USA, Inc.
Frank J. Kimmerling
Vice President/CFO
800.221.0308
Email Contact

Filed Under: Healthcare Business

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