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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.

Allied Healthcare International Inc. to Host Fiscal 2010 Fourth Quarter and Year-End Conference Call and Webcast

Posted on November 24, 2010 Written by Editor

SOURCE: Allied Healthcare International Inc.

NEW YORK, NY–(Marketwire – November 24, 2010) – Allied Healthcare International Inc. (NASDAQ: AHCI) will host a conference call and webcast to discuss the financial and operating performance for its fiscal 2010 fourth quarter and year ended September 30, 2010 on Tuesday, December 7, 2010, at 10:00 AM Eastern Time / 3:00 PM UK Time. The call will be hosted by Sandy Young, Chief Executive Officer, and Paul Weston, Chief Financial Officer. The Company will issue its earnings press release prior to the call.

Dial-In Information
Allied invites all those interested in listening to management’s discussion of the results to join the call by dialing (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 for two weeks 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 360782. A webcast replay will also be available and archived on the Company’s website for ninety days.

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.

CONTACT
Allied Healthcare International Inc.
Sandy Young
Chief Executive Officer
Paul Weston
Chief Financial Officer
+44 (0) 17 8581 0600

Or

ICR, LLC
Sherry Bertner
Managing Director
+1 646 277 1200
[email protected]

Filed Under: Healthcare Business

TomoTherapy to Participate in Two Upcoming Investment Conferences

Posted on November 24, 2010 Written by Editor

SOURCE: TomoTherapy

Piper Jaffray Healthcare Conference on November 30 and Lazard Capital Markets Med Tech/Life Sciences Tools Day on December 2, 2010

MADISON, WI–(Marketwire – November 24, 2010) – TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for the treatment of cancer and other diseases, today announced that President and CEO Fred Robertson, M.D., will participate in two upcoming investment community conferences.

On Tuesday, November 30, 2010, Dr. Robertson will present at the Piper Jaffray Healthcare Conference at 3:00 p.m. EST. The conference will be held November 30 – December 1 at The New York Palace hotel in New York City, NY. A live Webcast of the presentation will be available on the Investor Relations page of TomoTherapy.com. For those who are unable to listen to the live presentation, an archive of the Webcast will be available on the company’s site for 30 days following the presentation.

On Thursday, December 2, 2010, Dr. Robertson will attend the Lazard Capital Markets Med Tech/Life Sciences Tools Day, where he will be available for interviews throughout the day. The conference is being held at JW Marriott Denver Cherry Creek in Denver, Colo.

About TomoTherapy Incorporated
TomoTherapy Incorporated develops, markets and sells advanced radiation therapy solutions that can be used to 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 include 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.

(C)2010 TomoTherapy Incorporated. All rights reserved. TomoTherapy, Tomo, TomoDirect, TQA, the TomoTherapy logo and Hi·Art are among trademarks, service marks or registered trademarks of TomoTherapy Incorporated in the United States and other countries.

Investor Contact:
Thomas E. Powell
Chief Financial Officer
608.824.2800
Email Contact

Media Contacts:
Kevin O’Malley
Manager, Corporate Communications
608.824.3384
Email Contact

Filed Under: Healthcare Business

MoneyTV with Donald Baillargeon, 11/24

Posted on November 24, 2010 Written by Editor

SOURCE: MoneyTV; Global Medical Equipment of America, Inc.; Park Place Energy Corporation; BioMedical Technology Solutions, Inc.

LOS ANGELES, CA–(Marketwire – November 24, 2010) – On Location in Phoenix, medical equipment sales, shale gas in Bulgaria, rendering biomedical waste harmless; this week on MoneyTV with Donald Baillargeon. MoneyTV is the internationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with company CEOs, providing insights into their operations and outlooks for their futures.

Free information packages from the featured companies can be requested by sending an email to [email protected].

The television program can also be viewed online immediately at www.moneytv.net.

Featured companies on this week’s program include:

Global Medical Equipment of America, Inc. CEO Harold Halman detailed the company’s business model of providing durable medical equipment through retail and wholesale channels.

Park Place Energy Corporation (OTCBB: PKPL) CEO David Johnson and Co-Founder/Consultant George Tsafalas announced the company’s operations in Bulgaria, discussed the shale gas industry and the company outlook going forward.

BioMedical Technology Solutions, Inc. (OTCBB: BMTL) CEO Donald Cox, Jr. demonstrated the company’s technology, which converts hazardous biomedical waste to simple trash.

MoneyTV debuted in 1996 and is broadcast internationally in more than 170 million TV households in over 60 countries.

A complete menu of TV listings is available at the MoneyTV web site, http://www.moneytv.net.

MoneyTV Executive Producer and Anchor Don Baillargeon is also the host of MoneyRap Radio, http://www.moneyrap.com and the television program Health This Week, http://www.healththisweek.com.

MoneyTV television program, Copyright MMX, all rights reserved. MoneyTV does not provide an analysis of companies’ financial positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. MoneyTV provides companies a 3 to 4 month corporate profile with multiple appearances for a cash fee of $11,500.00 to $17,250.00, does not accept company stock as payment for services, does not hold any positions, options or warrants in featured companies. The information herein is not an endorsement by Donald Baillargeon, the producers, publisher or parent company of MoneyTV.

Contact:
Donald Baillargeon
Executive Producer
MoneyTV
949 388 5267
[email protected]

Click here to see all recent news from this company

Filed Under: Healthcare Business

Cain Brothers Advises Caritas Christi Health Care in Sale to Cerberus Capital Management’s Steward Health Care System

Posted on November 23, 2010 Written by Editor

SOURCE: Cain Brothers

NEW YORK, NY–(Marketwire – November 23, 2010) –  Cain Brothers & Company served Boston-based Caritas Christi Health Care (CCHC) as financial adviser in the recently completed successful sale to Steward Health Care System LLC (Steward), a newly formed affiliate of private equity firm Cerberus Capital Management, L.P. (Cerberus). Caritas and Cerberus announced that the transaction was completed on November 8, 2010. The system will continue to operate under the Caritas Christi banner and be led by CEO Dr. Ralph de la Torre and the current senior leadership team of CCHC.

The transaction represents the largest conversion of a not-for-profit health system to taxable status in Massachusetts’ history and the largest in the U.S. in many years. The transaction brings to CCHC approximately $895 million of new capital to be utilized for the assumption of pension obligations, repayment of debt, funding for operations, and significant capital projects. The CCHC hospitals will undergo major infrastructure improvements and benefit from significant investments in clinical technology and health care information technology.

Robert J. Fraiman, CEO of Cain Brothers and the leader of Cain Brothers’ transaction team, said, “We were pleased to assist Caritas CEO Ralph de la Torre, the Board of CCHC and the senior management team to complete this exceptional transaction. It is forward-looking in scope, and it will be good for the system and the communities and patients it serves. We are confident that Steward will be at the forefront of the trend towards community-based accountable care organizations (ACOs), which is driven by the health care reform legislation enacted earlier this year combined with the need for more efficient delivery of care to patients.”

Carsten Beith, Managing Director of Cain Brothers and leader of the firm’s tax-exempt merger and acquisition advisory service, said, “Although the Caritas-Cerberus transaction is unusually large, consolidation activity among hospitals and hospital systems is accelerating nationally. We expect to see a dramatic increase in the number of hospital M&A transactions among both not-for-profit and for-profit health care providers. The most significant factors leading to this activity include: capital markets that continue to be challenging, especially for providers that have significant capital improvement needs, as well as health care reform, with its heavy information technology requirements and the need better manage the risks of utilization and outcomes, while providing increased transparency for both patients and regulators.”

Cain Brothers is a leading investment banking firm that focuses exclusively on the health care industry. The firm’s clients include investor-owned and tax-exempt providers, payors, health care information technology and medical technology companies, and financial sponsors. The firm has one of the largest teams of experienced bankers and capital markets professionals on Wall Street dedicated to the health care industry. Operating out of nine offices across the country, the firm creates custom-tailored, market-based capital raising, M&A, real estate, and strategic and financial advisory solutions for its clients. 

Contacts:

Robert J. Fraiman
212-981-6947
Email Contact

Carsten Beith
312-456-0500
Email Contact

Filed Under: Healthcare Business, Hospitals and Health Systems

Quantum Health Recognized as One of America’s Best Places to Work

Posted on November 23, 2010 Written by Editor

SOURCE: Quantum Health, Inc.

COLUMBUS, OH–(Marketwire – November 23, 2010) – The adage “Choose a job you love and you will never have to work a day in your life” may well be true at Quantum Health. The company, after all, was recently recognized both locally and nationally as of one of America’s best places to work by two different publications.

In the 2010 Great Place to Work® Rankings of the Best Small & Medium Workplaces presented by Entrepreneur® magazine, Quantum Health ranked 23rd among the “50 Best” companies nationally. Columbus’s Business First also highlighted the company as a 2010 “Best Places To Work” in its small companies category. Quantum Health is a four-time recipient of this award and earned second place honors in this year’s competition — one spot higher than its third place finish in 2009.

“Quantum Health’s success in delivering value to its clients rests solely on recruiting, hiring and retaining the area’s best employees,” said Kara Trott, CEO. “We’re thrilled to be recognized as a great place to work by our employees and believe that it translates into great service to the people we serve every day.”

The Entrepreneur “50 Best” are selected and ranked by Great Place to Work® Institute, Inc., a workplace research and consulting firm. The determination of the best 50 companies is guided by a methodology that places the greatest weight on their responses to the survey, which accounts for two-thirds of the total score. The remaining one-third of the score comes from the Institute’s evaluation of each company’s culture. Companies are scored in five distinct areas: credibility, respect, fairness, pride and camaraderie.

Columbus Business First’s 2010 “Best Places To Work” honorees were chosen using an independent firm’s proprietary employee survey methodology and software to evaluate nominees. Companies were judged solely upon quantitative measurement of employee input.

ABOUT QUANTUM HEALTH
Quantum Health is an award-winning and fundamentally different healthcare company headquartered in Columbus, Ohio, serving employers nationally.

Quantum Health guarantees its clients a 5-8% reduction in total claims spend. By reorganizing benefits delivery and creating a “virtual medical home” for each member, Quantum Health maximizes each service opportunity to intercept patients when they have a problem to solve or questions about their benefits or healthcare. Real time, informed involvement allows our Care Coordinators to help patients, their families, and their physicians to work together to ensure proper care, eliminating redundant, delayed and questionable care — literally driving unnecessary medical events and cost out of the system. All with a 100% guarantee.

Filed Under: Healthcare Business

Toronto’s Newest Family Day Out Offers Something for Everyone

Posted on November 23, 2010 Written by Editor

TORONTO, ONTARIO–(Marketwire – Nov. 23, 2010) – The ultimate family funfest Funday Sunday arrives on November 28, 2010 to entertain Torontonians of all ages in support of Sunnybrook’s Women & Babies Program and the Canadian Hadassah-WIZO Toronto (CHW), which is dedicated to the health care of women and children in Israel. The event will run from 9 a.m. to 5 p.m. at the Metro Convention Centre, and with family passes priced at only $39, this is one event that Toronto families will not want to miss!

Presented by Dancap Productions, Funday Sunday offers something for everyone:

  • a marketplace with designer goods and deep discounts
  • a Children’s Village with bouncy castles, face painting, games and talented performers 
  • a fun zone with an arcade and a skateboard park for teens
  • an “ask an health expert” booth hosted by Sunnybrook staff

“We are honoured to have the support of this joint partnership between Sunnybrook and the CHW,” says Dr. Andrew Shennan, chief of the Women & Babies Program. “A part of the proceeds from Funday Sunday will help our world-class staff continue to deliver the highest level of care in what is now one of the most advanced maternity wards in North America.”

The new Women & Babies facility at Sunnybrook officially opened its doors to the public in September 2010. This 120, 000 square foot facility, which has received international acclaim for its leading-edge design, will now be able to accommodate up to 4,250 births each year – 500 more births than the previous facility.

“CHW Toronto’s partnership with Sunnybrook allows us to continue the important work of supporting our most vulnerable women and children,” says Sarah Granatowicz, president of the Canadian Hadassah-WIZO Toronto. “CHW has a long and rich history of supporting children, healthcare, and women both here in Toronto and in Israel.” 

For more information about Funday Sunday or to register online, visit fundaysunday.ca or email [email protected].

About CHW

Founded in 1917, Canadian Hadassah-WIZO (CHW) Organization of Canada is a non-political women’s volunteer organization dedicated to the support of education, career training, healthcare, women and youth services in Israel and Canada.

About Sunnybrook Health Sciences Centre’s Women & Babies Program

At Sunnybrook, women and babies get the very best care available, delivered in a family-centred environment. With a focus on high-risk pregnancy and critically premature babies, Sunnybrook accepts more emergency maternal transfers than any other hospital in Ontario.

Filed Under: Healthcare Business

Transax International Reports Third Quarter Results

Posted on November 23, 2010 Written by Editor

SOURCE: Transax International

PLANTATION, FL–(Marketwire – November 23, 2010) – Transax International Limited (Transax) (PINKSHEETS: TNSX), a network solutions company for healthcare providers and health insurance companies, today reported financial results for the first nine months of 2010 and third quarter ended September 30, 2010.

For the quarter ended September 30, 2010, Transax generated net revenues of $1,211,511 compared to $1,155,060 in net revenues during third quarter of 2009, a 4.9% increase. The increase in revenues is principally due to the continued roll out of new contracts signed during the previous year and organic growth from existing clients. Transaction volume increased to 2.61 million for the third quarter of 2010 with some 66% of transactions being performed by the company’s proprietary Web based solution compared with 50% during the same period in 2009.

Loss from operations in the third quarter of 2010 was $332,240 compared with a $448,694 loss during the same period in 2009 a decrease of 26%. The Company recorded a loss prior to income taxes, for the third quarter of 2010 of $460,823 compared with Income prior to income taxes of $1,781,821 in the third quarter of 2009. The increase in loss was principally due to a reversal from the gain in the fair value of the recording of derivative liabilities.

For the nine months ended September 30, 2010 revenues increased by 2.5% to $3,280,772 from $3,201,083 during the same period in 2009. The increase in revenue is predominantly due to increase in roll out of the additional solutions. The Company recorded a loss from operations of $1,271,420 for the nine months ending September 30, 2010 compared to a $1,009,865 loss from operations during the same period in 2009. The increase in loss is primarily attributed to increases in general and administrative costs and compensation expenses. Net Loss for the first nine months of 2010 was $1,828,306 compared to Net Loss of $1,939,994 during the same period in 2009.

At the end of the third quarter 2010 the Company had 24,833 solutions operational in Brazil including over 3,100 Point of Sales (POS) Solutions. During the nine months ended September 30, 2010 the company installed approximately 7800 Web solutions and disconnected over 100 Interactive Voice Response (IVR) Solutions allowing for greater operational flexibility and increased functionality for the client. The Company undertook 7.1 million real-time transactions during the nine months ending September 30, 2010 compared to 6.3 million transactions during the same period in 2009. The Company has twelve contracts in place in Brazil eleven of which were generating revenues and one under a pilot test environment. At the end of the third quarter 2010 approximately 68% of the Company’s transactions were being undertaken by the Company’s Web solution compared to 52% at the start of 2010.

In announcing the results Stephen Walters, President & CEO, stated, “Since January 2010 revenues have increased approximately 19% in line with the transaction volume which has increased from 2.2 million in the first quarter of 2010 up to 2.6 million transactions for the third quarter 2010. The company continues to seek operating efficiencies to reduce costs and operational losses while undertaking continued development of its product in the Brazil market place.” 

About Transax International Limited

Transax International is an emerging network solutions provider for the healthcare sector. Utilizing its proprietary MedLink™ technology, Transax provides a service similar to credit card processing for the health insurance and providers industries. A transaction consists of: approving eligibility, authorization, auto-adjudication of the health claim and generating the claim payable files — provided instantaneously in “real time” — regardless of method of claim generation.

Transax’s solutions have been proven to significantly decrease health insurance claim expenditures and healthcare provider costs. Based in Plantation, Fl, Transax maintains a major operations office in Rio de Janeiro, Brazil with approximately 40 staff and a Sales Office in Sao Paulo, Brazil. The Company has contracts in place with major health insurers in Brazil and currently undertakes approximately 850,000 transactions per month.

SAFE HARBOR STATEMENT: “THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY’S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE ‘SAFE HARBOR’ PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.”

Contacts:
Stephen Walters
President & CEO
Tel: 888.317.6984
http://www.transax.com

Filed Under: Healthcare Business

BroadcastMed Wins Gold eHealthcare Leadership(R) Award

Posted on November 22, 2010 Written by Editor

SOURCE: BroadcastMed, Inc.

ORLive.com Broadcasting Portal Named Best Overall Internet Site

WEST HARTFORD, CT–(Marketwire – November 22, 2010) – BroadcastMed, Inc., an interactive broadcasting company, has been recognized by the 2010 eHealthcare Leadership® Awards for its ORLive.com broadcasting portal, as a top overall internet site. The ORLive.com site was acknowledged along with The Cleveland Clinic and Mt. Sinai Medical Center. “We are extremely grateful and appreciative to be named a leading internet site by our peers in the health community,” said Ross Joel, CEO and Co-founder. Winners were recognized during a special presentation at the Fourteenth Annual Healthcare Internet Conference held November 15-17, 2010 in Las Vegas. 

Nearly 1,300 entries were received from a wide range of healthcare organizations. Factors considered in selecting the best overall internet site included delivery of strong health content, interactivity, medical care support, as well as strength of Web design and ease of navigation. Another Gold Award was bestowed on the Virtual Brain Tumor Board (MethodistHealth.or-live.com/vbtb) which BroadcastMed has developed for the Methodist University Hospital Neuroscience Institute. The Award was presented in the category of Best Health/Healthcare Content. Additionally, BroadcastMed’s work for CMEducation Resources was also cited with 12 additional awards. “Our commitment to provide comprehensive online solutions to a global audience makes this honor a huge motivator in continuing to educate our audiences with relevant content,” added Peter Gailey, President and Co-founder.

The eHealthcare Leadership Awards program exclusively recognizes the very best Web sites of healthcare organizations, online health companies, pharmaceutical/medical equipment firms, suppliers, and business improvement initiatives. The awards highlight the Internet’s role in achieving an organization’s business objectives and recognize the hard work that has gone into creating outstanding health Web sites. A total of 123 individuals familiar with healthcare and the Internet evaluated entries. Web sites were rated based on a standard of Internet excellence and how they compare with others in their group classification. For a list of winners, see: www.strategichealthcare.com/awards/winners.php. 

About BroadcastMed, Inc.

Since 1994, BroadcastMed has been providing online video solutions to hospitals, device manufacturers, and other health-related organizations. Our audience has access to thousands of hours of surgical broadcasts through our ORLive.com portal along with medical programs in other clinical disciplines, many of which include continuing medical education (CME) credit. 

Contact:

Todd Leddy
Email Contact

Click here to see all recent news from this company

Filed Under: Healthcare Business

Sun Healthcare Group, Inc. to Present at the Credit Suisse 2010 Healthcare Conference

Posted on October 29, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – October 29, 2010) –  Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced that L. Bryan Shaul, chief financial officer, and Brandi Riddle, treasurer, will be presenting at the Credit Suisse 2010 Healthcare Conference on Thursday, Nov. 11, at 1 p.m. Mountain. 

The conference is being held at the Arizona Biltmore Resort and Spa in Phoenix, Ariz., Nov. 10-12. 

A copy of the presentation material will be available on the company’s web site at www.sunh.com immediately prior to Sun’s scheduled presentation.

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 Oct. 1, 2010, SunBridge centers had 23,189 licensed beds located in 25 states, of which 22,407 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.

Contact:
Investor Inquiries
(505) 468-2341

Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business

Vangent Wins $3.7 Million Contract From Military Health System to Manage Patient Movement Item Tracking System

Posted on October 28, 2010 Written by Editor

SOURCE: Vangent

Vangent to Manage Award-Winning MHS System That Ensures Medical Equipment Is Accessible and Available for Wounded Warriors

ARLINGTON, VA–(Marketwire – October 28, 2010) –  Vangent, Inc., a leading global provider of information management and strategic business process solutions, today announced it was awarded the Patient Movement Item Tracking System (PMITS) Sustainment contract from the Military Health System in support of the Defense Health Services Systems Program Office.

PMITS is an award-winning MHS system, receiving the Agency Information Technology Award from Government Computer News in 2009. PMITS automatically tracks the storage of patient movement items during peacetime and its movement during contingency and wartime operations. PMITS ensures critical patient-movement equipment is available throughout patient evacuation to save critically injured warfighters’ lives.

Military commanders use PMITS to manage and redistribute patient movement assets to avoid shortages during patient evacuations. PMITS prevents the loss, shortages, and overages of aeromedical equipment by managing the equipment inventory, tracking its movement, and providing valuable information to personnel supporting aeromedical equipment, such as item identification, item location, and status. 

“Vangent is proud to support the Military Health System with a mission-critical system that provides essential equipment for our military’s wounded warriors,” said Kerry Weems, Senior Vice President and General Manager of Vangent’s Health Solutions business. 

Vangent’s subcontractor partner on this contract is Akimeka, LLC.

About Vangent, Inc. 
Vangent, Inc. is a global provider of consulting, systems integration, human capital management, and business process services to the U.S. federal and international governments, higher education institutions, and corporations. Vangent’s 8,500 employees support clients including the Centers for Medicare & Medicaid Services, the U.S. Departments of Defense, Education, Health and Human Services, Labor and Veterans Affairs; and the U.S. Office of Personnel Management, the U.S. Census Bureau, as well as Fortune 500 companies. Headquartered in Arlington, Virginia, the company has offices throughout the U.S. and in the U.K and Canada. For more information, visit www.vangent.com.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are those that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. Words such as, but not limited to, “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “targets,” “projects,” “likely,” “will,” “would,” “could” and similar expressions or phrases identify forward-looking statements. All forward-looking statements involve risks and uncertainties. The occurrence of the events described, and the achievement of the expected results, depend on many events, some or all of which are not predictable or within our control. In light of these risks and uncertainties, expected results or other anticipated events or circumstances discussed in this press release might not occur. We undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Eileen Cassidy Rivera
(703) 284-5674
Email Contact

Filed Under: Healthcare Business, Hospitals and Health Systems

Beach Business Bank Reports Strong Quarter and Record 12 Month Trailing Earnings

Posted on October 28, 2010 Written by Editor

SOURCE: Beach Business Bank

MANHATTAN BEACH, CA–(Marketwire – October 28, 2010) – Beach Business Bank (OTCBB: BBBC) (the
“Bank”) is pleased to report its results of operations for the third
quarter of 2010, the year to date 2010, and the trailing 12 months which
includes the fourth quarter of 2009.

Third Quarter Highlights

-- Improving After-Tax Earnings.  For the trailing 12 months, the Bank
   earned $1,201,000, a historical earnings record for the Bank.
   All three of the Bank's offices: Orange County, Long Beach and
   Manhattan Beach, performed well in the quarter.


                                        Third
(U.S.         Third       Second       Quarter      First 9      First 9
 Dollars)  Quarter 2010 Quarter 2010     2009     Months 2010  Months 2009
           ------------ ------------ -----------  ------------ -----------
Net Income      450,000      256,000  (5,895,000)    1,058,000  (5,693,000)
           ------------ ------------ -----------  ------------ -----------

-- Loan Growth and Improving Funding Quality.  The Bank's niche lending
   businesses to physicians and dental professionals and the Bank's SBA
   lending practice showed strength, resulting in further loan
   originations. Development of non-interest-bearing deposits was strong
   during the quarter. The Bank's non-CD based deposits were 89% of total
   deposits at the end of the third quarter.


                                        9/30/2010   9/30/2010   9/30/2010
                                            vs.         vs.         vs.
% growth                                6/30/2010   12/31/2009  9/30/2009
                                        ---------   ----------  ----------
Net Loans                                    (.04)%      13.51%      30.22%
                                        ---------   ----------  ----------
Total Assets                                 18.7%        18.5%       18.7%
                                        ---------   ----------  ----------
Demand deposits (non-interest-bearing)       11.9%        52.0%       56.5%
                                        ---------   ----------  ----------
Total Deposits                               10.8%       22.71%       23.1%
                                        ---------   ----------  ----------

-- Total new loan commitments in the quarter amounted to more than
   $20 million. Non-interest bearing demand deposits totaled $49.1 million
   at quarter end. Overall deposits totaled $260.3 million at quarter end.
   Total assets increased by $47.6 million, to $302.5 million at
   quarter-end, as compared to $254.9 million for the same quarter end
   last year.

Stronger Operating Performance


                                                                    YTD
                          3Q 2010   2Q 2010   3Q 2009   YTD 2010    2009
                          --------  --------  -------   --------  -------

Return on Average Assets      0.60%     0.38%   (9.08)%     1.52%   (2.30)%
                          --------  --------  -------   --------  -------
Return on Average Common
 Equity                       6.09%     3.50%  (68.21)%    14.41%  (65.81)%
                          --------  --------  -------   --------  -------
Net Interest Margin           3.85%     3.98%    3.33%      3.92%    3.56 %
                          --------  --------  -------   --------  -------
Efficiency Ratio             65.79%    68.52%  144.56%     72.85%  110.35 %
                          --------  --------  -------   --------  -------
Tangible Book Value per
 Common Share             $   7.30  $   7.21  $  7.10   $   7.30  $  7.10
                          --------  --------  -------   --------  -------

“We are pleased to be able to report these strong results,” commented Jim
Gray, the co-chairman of the Bank’s board of directors. He continued, “We
are committed to helping the small businesses in our market area to get
back to hiring new employees and increasing their business again. The
recently passed Small Business Bill that the President signed into law on
September 27 will be a huge benefit for business banks like ours, and for
our small business customers.”

Robert Franko, president and chief executive officer of the Bank,
commented, “Our team of skilled bankers has worked tirelessly to achieve
these results, by continuing to build our franchises among small businesses
in our local market areas and among medical professionals nationwide. To
support further growth we continue to make additional provisions from our
core earnings to give us the necessary balance sheet strength. Our local
community has continued to provide us with strong core deposit
relationships, even as our funding costs have continued to decline. We are
fortunate to be located in the finest market areas in the world, and to
have the support of so many excellent and enduring business relationships.”

Loan Portfolio and Credit Quality

-- The Bank's Allowance for Loan & Lease Losses (ALLL) stood at
   $6.2 million or 2.5% of loans outstanding at the quarter end.
-- As of the quarter end, non-accrual loans stood at $5.0 million, with
   no other loans more than 30 days past due.
-- The Bank had net charge-offs of $361,000 in the quarter. The Bank
   provided $520,000 to the ALLL in the quarter.
-- As of the quarter end, the aggregate of non-accrual loans and OREO
   measured as a percentage of Capital and Reserves (sometimes referred to
   as the Texas Ratio) stood at 12.03%.
-- At the quarter end, the Bank's Total Risk-based Capital Ratio was
   14.89%, compared to the regulatory minimum of 10.0% to be
   "Well Capitalized."
-- The Bank's other regulatory Capital measurements also continued to be
   significantly above the regulatory minimums for Well Capitalized.
   For example, the Bank's Tier 1 Risk-Based Capital was 13.62%, compared
   to the regulatory minimum of 6.0%, and the Bank's Tier 1 Leverage Ratio
   was 11.88%, compared to the regulatory minimum of 5.0%.

Financial statements in the form of the Bank’s Call Report, as filed with
the FDIC, will be available on the Bank’s web site at
www.beachbusinessbank.com, and should be available for review or
downloading from the FDIC web site at www.fdic.gov shortly after the end of
this month.

Beach Business Bank is headquartered at 1230 Rosecrans Avenue, Lobby Level,
in Manhattan Beach, and has two other full-service offices at 180 E. Ocean
Blvd. in Long Beach, CA and at 650 Town Center Drive in Costa Mesa, CA. The
Bank is first and foremost a community business bank serving Los Angeles,
Long Beach, the South Bay and Orange County residents and businesses. The
Bank also has a division named The Doctors Bank®, which serves physicians
and dentists nationwide. In addition, Beach Business Bank provides loans to
small businesses, focused around the SBA 7(a) and Express lending programs.
For more information on the Bank, please visit www.beachbusinessbank.com or
call toll-free to (866) 862-3878.

“Safe Harbor” statement under the Private Securities Litigation Reform Act
of 1995:

The financial information in this press release is based on our unaudited
financial results. Certain statements in this press release, including
statements regarding the anticipated development and expansion of the
Bank’s business, and the intent, belief, and current expectations of the
Bank, its directors, or its officers, are “forward-looking” statements (as
such term is defined in the Private Securities Litigation Reform Act of
1995). Such forward-looking statements are subject to risks and
uncertainties and therefore the Bank’s actual results may differ materially
from those expressed or implied by such forward-looking statements. The
risks and uncertainties that the Bank is subject to include, but are not
limited to, risks related to the local and national economy, including
fluctuations in interest rates and costs and changes in economic policy;
the ability of the Bank to perform in accordance with its plans;
competition; regulatory matters; and other risks detailed in its filings
with the State of California Department of Financial Institutions and the
Federal Deposit Insurance Corporation. The Bank cautions readers not to
place undue reliance on any forward-looking statements. The Bank does not
undertake, and specifically disclaims any obligation, to revise any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.

Summary Financial Information

The following tables present relevant financial data from
Beach Business Bank's recent performance.

                                           September  December   September
                                           30, 2010   31, 2009   30, 2009
                                           ---------  ---------  ---------
Balance Sheet Results (In thousands),
 except per share data:
       Total Assets                        $ 302,465  $ 255,321  $ 254,883
       Gross Loans                         $ 245,496  $ 217,361  $ 193,687
       Loans Held for Sale                 $   1,542  $   1,026  $   4,285
       Allowance for Loan Losses           $   6,188  $   6,870  $   6,819
       Total Net Loans                     $ 237,765  $ 209,465  $ 182,582
       Total Deposits                      $ 260,293  $ 212,083  $ 211,465
       Other Real Estate Owned             $       -  $   2,100  $   2,399
       Preferred Stock                     $   6,078  $   6,033  $   6,018
       Common Stock                        $  29,618  $  28,899  $  28,680
       Total Shareholders' Equity          $  35,696  $  34,932  $  34,698
       Net Loans to Deposits                   91.35%     98.77%     86.34%
       ALLL to Loans HTM                        2.54%      3.18%      3.60%
       Equity to Assets                        11.80%     13.68%     13.61%
       Ending Shares outstanding           4,055,972  4,036,984  4,036,984
       Ending Book Value per Common Share  $    7.30  $    7.16  $    7.10

                                                  Three Months Ended
                                           September  December   September
                                           30, 2010   31, 2009   30, 2009
                                           ---------  ---------  ---------
Quarterly Operating Results (In
 thousands):
       Net Interest Income                 $   2,780  $   2,230  $   2,041
       Non-interest Income                 $      57  $     583  $     302
       Non-interest Expense**              $   1,866  $   1,770  $   3,387
       Income Before Provision & Taxes     $     970  $   1,043  $  (1,045)
       Provision for Loan Losses           $     520  $     900  $   4,850
       Income Tax Expense                  $       -  $       -  $       -
       Net Income                          $     450  $     143  $  (5,895)
       Quarterly Return on Average Assets*      0.60%      0.22%     -9.08%
       Quarterly Return on Average Equity*      5.05%      1.63%    -58.11%
       Quarterly Net Interest Margin*           3.85%      3.46%      3.33%
       Quarterly Efficiency Ratio*             65.79%     62.93%    144.56%

                                            Nine Months Ended
                                           September  September
                                            30, 2010   30, 2009
                                           ---------  ---------
YTD Operating Results (In thousands):
       Net Interest Income                 $   7,909  $   6,410
       Non-interest Income                 $   1,072  $   1,060
       Non-interest Expense                $   6,542  $   8,243
       Income Before Provision & Taxes     $   2,438  $    (773)
       Provision for Loan Losses           $   1,380  $   4,920
       Income Tax Expense                  $       -  $       -
       Net Income                          $   1,058  $  (5,693)
       YTD Return on Average Assets*            0.38%     -2.30%
       YTD Return on Average Equity*            2.99%    -14.24%
       YTD Net Interest Margin*                 3.92%      3.56%
       YTD Efficiency Ratio*                   72.85%    110.35%


       *Percentages are reported on an annualized basis.
       Source: FDIC quarterly Call Reports for Beach Business Bank for the
       periods indicated.

Filed Under: Healthcare Business

MWI Veterinary Supply, Inc. Announces Its Fiscal Year 2010 Earnings Release Date and Conference Call Information

Posted on October 28, 2010 Written by Editor

SOURCE: MWI Veterinary Supply

MERIDIAN, ID–(Marketwire – October 28, 2010) –  MWI Veterinary Supply, Inc. (NASDAQ: MWIV) announced today that the Company will release financial results for its fourth quarter and fiscal year ended September 30, 2010 and provide its business outlook for its fiscal year ending September 30, 2011 on Thursday, November 4, 2010. MWI will host a conference call the same day at 11 am eastern time to discuss these results and its business outlook.

For calls within the United States you can access the conference call by dialing (877) 638-4561 and international callers can access the conference by dialing (720) 545-0002. Participants will be required to register their name and company affiliation for the conference call. 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 November 18, 2010 by calling (800) 642-1687 for calls within the United States or (706) 645-9291 for international calls using the passcode 19698332 or by accessing the Company’s web site.

About MWI Veterinary Supply, Inc.
MWI Veterinary Supply, Inc. is a leading distributor of animal health products to veterinarians across the United States and United Kingdom. The 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.

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

Filed Under: Healthcare Business

ExamWorks Group, Inc. Announces Pricing of Its Initial Public Offering

Posted on October 28, 2010 Written by Editor

SOURCE: ExamWorks Group, Inc.

Common Stock Will Begin Trading on NYSE

ATLANTA, GA–(Marketwire – October 28, 2010) –  ExamWorks Group, Inc. (NYSE: EXAM), a leading provider of independent medical examinations (IMEs), peer reviews, bill reviews and related services for the insurance and legal industries, today announced the pricing of its initial public offering of 10,300,000 shares of its common stock at a price to the public of $16.00 per share. Of the 10,300,000 shares being offered to the public 7,745,114 shares are being offered by ExamWorks Group and 2,554,886 shares are being offered by selling stockholders. In addition, the underwriters have a 30-day option to purchase up to an additional 1,545,000 shares from the company.

ExamWorks Group’s common stock is expected to begin trading on the New York Stock Exchange under the symbol “EXAM” on October 28, 2010. To celebrate the company’s IPO and NYSE listing, ExamWorks Group, led by Richard E. Perlman, Executive Chairman and James K. Price, Chief Executive Officer, will ring the NYSE Opening Bell.

Goldman, Sachs & Co., Credit Suisse and Barclays Capital are joint book runners for the offering. William Blair & Company and Needham & Company LLC are acting as co-managers of the offering.

A registration statement relating to this offering was declared effective by the U.S. Securities and Exchange Commission on October 27, 2010. This offering is being made solely by means of a prospectus. A copy of the prospectus relating to this offering may be obtained from Goldman, Sachs & Co., 200 West Street, New York, New York 10282-2198, Attention: Prospectus Department, telephone (866) 471-2526; or from Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, New York 10010, Attention: Prospectus Department, telephone (800) 221-1037.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About ExamWorks Group

ExamWorks Group, Inc. is a leading provider of independent medical examinations, or “IMEs”, peer and bill reviews, and related services, which include, litigation support services, administrative support services, and medical record retrieval services, and which we collectively refer to as IME services or the IME industry. We provide these IME services through our medical panel of independently contracted, credentialed physicians and other medical providers. Our clients include property and casualty insurance carriers, law firms, third-party claim administrators and government agencies that use independent services to confirm the veracity of claims by sick or injured individuals for workers’ compensation, automotive, personal injury liability and disability insurance coverage. We help our clients manage costs and enhance their risk management processes by verifying the validity, nature, cause and extent of claims, identifying fraud and providing fast, efficient and quality IME services. ExamWorks is focused on providing carriers with the national presence they need and with the local service that they have come to expect.

ExamWorks Group, Inc.
J. Miguel Fernandez de Castro
404-952-2400
Senior Vice President and Chief Financial Officer
[email protected]

Filed Under: Healthcare Business

Sun Healthcare Group, Inc. Reports Third-Quarter Operating Results; Meets Analyst Expectations for Diluted Earnings per Share From Continuing…

Posted on October 27, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – October 27, 2010) – Sun Healthcare Group, Inc. (NASDAQ: SUNH) today
announced its operating results for the third quarter ended Sept. 30, 2010.

Normalized results for the third-quarter period ended Sept. 30, 2010:

--  consolidated revenues rose 1.1 percent to $476.0 million, compared to
    the same period in 2009;
    --  increased patient acuity resulted in solid reimbursement rates in
        quarter;
    --  hospice and rehabilitation therapy businesses showed revenue
        growth;
--  consolidated adjusted EBITDAR was $60.6 million and adjusted EBITDAR
    margin was 12.7 percent;
--  diluted earnings per share from continuing operations (after giving
    effect to the issuance of 30.76 million shares in the Company's equity
    offering) were $0.18;
--  diluted earnings per share from continuing operations would have been
    $0.23 based on shares outstanding prior to the issuance of
    30.76 million shares in the Company's August equity offering and before
    the application of the offering proceeds, which equals the mean of
    diluted earnings per share from continuing operations estimates for the
    third quarter from analysts who publish on First Call;
--  free cash flow was $21.3 million for the quarter; and
--  results have been normalized to exclude the impact of $4.7 million for
    transaction costs associated with the separation transaction described
    in further detail below in this press release.

Commenting on the Company’s third-quarter results, Richard K. Matros, Sun’s
chairman and chief executive officer, remarked, “Although our sector
continues to experience a tough operating environment, I am pleased with
our ability to turn in a solid quarter, with normalized adjusted EBITDAR
comparable to that achieved in last year’s third quarter.”

Matros added, “With respect to the previously announced separation of our
operating assets and real estate assets, we have completed debt financings
for both the operating company and the real estate company and have
received all necessary regulatory approvals. We look forward to our
stockholders’ meeting on November 4 and to completing the separation
transaction on November 15.”

Segment Updates

On a year-over-year basis for the quarter, revenue growth in Sun’s
inpatient services business totaled $3.8 million, or 0.9 percent, due
principally to revenue growth in its hospice business, SolAmor. SolAmor’s
revenues increased from $7.2 million to $11.3 million, due to census
expansion derived from same store census growth as well as an October 2009
acquisition. SolAmor contributed $2.5 million of adjusted EBITDA for the
quarter and an adjusted EBITDA margin of 22.3 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. SunBridge’s acuity growth was
evidenced by its Medicare Rehab RUG use of 91.2 percent, which was up 250
basis points year-over-year, and its Medicare REX utilization of 44.4
percent, which was up 240 basis points year-over-year. On an overall basis,
the inpatient services business reported adjusted EBITDAR of $69.0 million
for the quarter, with an adjusted EBITDAR margin of 16.3 percent.

SunDance, Sun’s rehabilitation therapy services business, experienced
revenue growth of $6.8 million, or 15.0 percent, in the quarter on the
strength of growth in revenue per contract of 8.5 percent and growth in
total non-affiliated contracts of 4.9 percent. Given the strong revenue
results, adjusted EBITDA margin also expanded in the quarter by 190 basis
points, producing an 8.0 percent adjusted EBITDA margin.

Industry demand for temporary medical staffing continues to be down as a
result of the slow economy. Accordingly, revenues from CareerStaff, Sun’s
medical staffing services business, were down compared to revenues in the
same quarter of 2009, resulting in adjusted EBITDA margin of 6.2 percent
for the quarter.

Bill Mathies, president and chief operating officer of SunBridge and chief
operating officer over Sun’s operating subsidiaries, commented on the
segment results: “Our early assessment of the implementation of RUG IV, the
changes to concurrent therapy and the elimination of the look-back period
is that they are neutral on a consolidated basis, with the market basket
rate increases we received on October 1 being accretive to our results. Our
experience to date affirms our positive view of the opportunity that these
changes in the reimbursement system afford us, given our strategy of
serving
clinically-complex patients, as well as the savings the changes will
achieve for the Medicare program. Continuing our focus on short-stay
high-acuity patients requires the expansion of our portfolio of Rehab
Recovery Suites® (RRS). At the end of the quarter, our RRS centers
aggregated 1,647 beds, an increase of 44.6 percent over the number of RRS
beds in service in the third quarter of 2009. Our rehabilitation business
achieved solid revenue growth in the 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. Our
medical staffing business, as noted, continued to show a decline in
revenues, EBITDA, and margins but the revenue decline has slowed and
billable hours were actually up for the quarter.”

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, Oct.
28, 2010, at 10 a.m. Pacific / 1 p.m. Eastern to discuss the Company’s
earnings for the third quarter of 2010.

To listen to the conference call, dial (888) 437-9364 and refer to Sun
Healthcare Group. A recording of the call will be available from 4 p.m.
Eastern on Oct. 28, 2010, until midnight Eastern on Nov. 28, 2010, by
calling (888) 203-1112 and using access code 4118106.

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 Oct. 1, 2010, SunBridge centers had 23,189 licensed beds located in 25
states, of which 22,407 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 on Nov. 15, 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 the Company’s 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 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 the Company’s business; the ability to maintain the occupancy rates and
payor mix at the Company’s healthcare centers; potential liability for
losses not covered by, or in excess of, the insurance; the effects of
government regulations and investigations; the significant amount of the
Company’s indebtedness; covenants in debt agreements that may restrict the
Company’s activities, including the Company’s ability to make acquisitions,
incur more indebtedness and refinance indebtedness on favorable terms;
Sun’s ability to accomplish the Separation and the transactions related
thereto; the impact of the current economic downturn on the business;
increasing labor costs and the shortage of qualified healthcare personnel;
and the Company’s ability to receive increases in reimbursement rates from
government payors to cover increased costs. More information on factors
that could affect the Company’s business and financial results are included
in Sun’s public filings made with the Securities and Exchange Commission,
including its 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 the Company is presently unaware or that
it currently deems immaterial.

The forward-looking statements involve known and unknown risks,
uncertainties and other factors that are, in some cases, beyond the
Company’s control. Sun cautions 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. Sun disclaims 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 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 for the special meeting
of stockholders to be held on Nov. 4, 2010. The definitive proxy
statement/prospectus was mailed to Sun stockholders on or about Oct. 4,
2010. Before making any voting or investment decision, Sun stockholders and
investors are urged to read the proxy statement/prospectus and other
documents filed with the SEC carefully and in their entirety because they
contain important information about the proposed transactions.
Stockholders will be able to obtain these documents free of charge at the
SEC’s website 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. Investors and stockholders may also obtain a copy
of these documents by requesting them in writing from Sun’s proxy
solicitation agent, Innisfree M&A, at 501 Madison Avenue, New York, NY
10022, or by telephone at (212) 750-5833.

Sun and its directors and executive officers and other members of its
management and employees may be deemed 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 Dec. 31, 2009,
filed with the SEC on March 5, 2010, and in the definitive proxy
statement/prospectus for the special meeting of stockholders filed with the
SEC on Sept. 29, 2010. These documents may be obtained free of charge from
the sources indicated above. Additional information regarding the interests
of these participants is also included in the definitive proxy
statement/prospectus for the special meeting.


                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
                                         September 30,      September 30,
                                             2010               2009
                                       ----------------   ----------------

Revenue                                $        475,997   $        470,644

Depreciation and amortization                    12,733             11,457

Interest expense, net                            10,614             12,231

Pre-tax income                                   13,557             17,759

Income tax expense                                5,559              7,220

Income from continuing operations                 7,998             10,539

Loss from discontinued operations                  (442)              (881)
                                       ----------------   ----------------

Net income                             $          7,556   $          9,658
                                       ================   ================


Diluted earnings per share             $           0.13   $           0.22
                                       ================   ================


Adjusted EBITDAR                       $         55,858   $         60,509
Margin - Adjusted EBITDAR                          11.7%              12.9%

Adjusted EBITDAR normalized            $         60,605   $         60,509
Margin - Adjusted EBITDAR normalized               12.7%              12.9%


Adjusted EBITDA                        $         36,904   $         42,319
Margin - Adjusted EBITDA                            7.8%               9.0%

Adjusted EBITDA normalized             $         41,651   $         42,319
Margin - Adjusted EBITDA normalized                 8.8%               9.0%


Pre-tax income continuing operations -
 normalized                            $         18,304   $         18,631

Income tax expense - normalized        $          7,505   $          7,578

Income from continuing operations -
 normalized                            $         10,799   $         11,053

Diluted earnings per share from
 continuing operations - normalized    $           0.18   $           0.25

Net income - normalized                $         10,357   $         10,172

Diluted earnings per share -
 normalized                            $           0.17   $           0.23


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
                                         Nine Months        Nine Months
                                             Ended              Ended
                                         September 30,      September 30,
                                             2010               2009
                                       ----------------   ----------------

Revenue                                $      1,423,443   $      1,406,949

Depreciation and amortization                    37,732             33,329

Interest expense, net                            34,366             37,422

Pre-tax income                                   49,205             56,066

Income tax expense                               19,990             22,795

Income from continuing operations                29,215             33,271

Loss from discontinued operations                (1,488)            (3,275)
                                       ----------------   ----------------

Net income                             $         27,727   $         29,996
                                       ================   ================


Diluted earnings per share             $           0.55   $           0.68
                                       ================   ================


Adjusted EBITDAR                       $        177,609   $        182,485
Margin - Adjusted EBITDAR                          12.5%              13.0%

Adjusted EBITDAR normalized            $        184,604   $        186,785
Margin - Adjusted EBITDAR normalized               13.0%              13.3%


Adjusted EBITDA                        $        121,303   $        127,730
Margin - Adjusted EBITDA                            8.5%               9.1%

Adjusted EBITDA normalized             $        128,298   $        132,030
Margin - Adjusted EBITDA normalized                 9.0%               9.4%


Pre-tax income continuing operations -
 normalized                            $         56,200   $         61,238

Income tax expense - normalized        $         22,858   $         24,916

Income from continuing operations -
 normalized                            $         33,342   $         36,322

Diluted earnings per share from
 continuing operations - normalized    $           0.66   $           0.83

Net income - normalized                $         31,854   $         33,395

Diluted earnings per share -
 normalized                            $           0.63   $           0.76


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)



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

Current assets:
  Cash and cash equivalents            $        138,350   $        104,483
  Restricted cash                                21,961             24,034
  Accounts receivable, net                      216,391            220,319
  Prepaid expenses and other assets              15,093             21,757
  Deferred tax assets                            71,940             68,415
                                       ----------------   ----------------
    Total current assets                        463,735            439,008

Property and equipment, net                     622,355            622,682
Intangible assets, net                           51,428             53,931
Goodwill                                        338,364            338,296
Restricted cash, non-current                        350              3,317
Deferred tax assets                              89,818            108,999
Other assets                                      5,157              4,961
                                       ----------------   ---------------- 
    Total assets                       $      1,571,207   $      1,571,194
                                       ================   ================


 LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable                     $         47,799   $         57,109
  Accrued compensation and benefits              60,898             58,953
  Accrued self-insurance obligations,
   current                                       45,610             45,661
  Income taxes payable                            1,605                  -
  Other accrued liabilities                      58,234             55,265
  Current portion of long-term debt and
   capital lease obligations                     39,796             46,416
                                       ----------------   ----------------
  Total current liabilities                     253,942            263,404

Accrued self-insurance obligations,
 net of current portion                         127,040            121,948
Long-term debt and capital lease
 obligations, net of current portion            410,145            654,132
Unfavorable lease obligations, net               10,518             12,663
Other long-term liabilities                      60,016             69,983
                                       ----------------   ----------------
  Total liabilities                             861,661          1,122,130


Stockholders' equity:
  Preferred stock of $.01 par value,
   authorized 10,000,000 shares, no
   shares were issued and outstanding
   as of September 30, 2010 and
   December 31, 2009                                  -                  -
  Common stock of $.01 par value,
   authorized 125,000,000 shares,
   74,788,448 and 43,764,240 shares
   issued and outstanding as of
   September 30, 2010 and
   December 31, 2009, respectively                  748                438
  Additional paid-in capital                    885,083            655,667
  Accumulated deficit                          (176,285)          (204,012)
  Accumulated other comprehensive loss,
   net                                                -             (3,029)
                                       ----------------   ----------------
                                                709,546            449,064
                                       ----------------   ----------------
    Total liabilities and
     stockholders' equity              $      1,571,207   $      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
                                         September 30,      September 30,
                                             2010               2009
                                       ----------------   ----------------
                                         (unaudited)        (unaudited)

Total net revenues                     $        475,997   $        470,644
                                       ----------------   ----------------
Costs and expenses:
  Operating salaries and benefits               270,052            265,597
  Self-insurance for workers'
   compensation and general and
   professional liability insurance              14,621             14,162
  Operating administrative costs                 13,343             12,462
  Other operating costs                          98,089             97,015
  Center rent expense                            18,954             18,190
  General and administrative expenses            14,146             15,586
  Depreciation and amortization                  12,733             11,457
  Provision for losses on accounts
   receivable                                     5,141              5,313
  Interest, net of interest income of
   $59 and $106, respectively                    10,614             12,231
  Transaction costs                               4,747                  -
  Restructuring costs                                 -                872
                                       ----------------   ----------------
Total costs and expenses                        462,440            452,885
                                       ----------------   ----------------

Income before income taxes and
 discontinued operations                         13,557             17,759
Income tax expense                                5,559              7,220
                                       ----------------   ----------------
Income from continuing operations                 7,998             10,539
                                       ----------------   ----------------

Discontinued operations:
  Loss from discontinued operations,
   net of related taxes                            (442)              (862)
  Loss on disposal of discontinued
   operations, net of related taxes                   -                (19)
                                       ----------------   ----------------
Loss from discontinued operations, net             (442)              (881)
                                       ----------------   ----------------

Net income                             $          7,556   $          9,658
                                       ================   ================


Basic income per common and common
 equivalent share:
  Income from continuing operations    $           0.13   $           0.24
  Loss from discontinued operations,
   net                                                -              (0.02)
                                       ----------------   ----------------
Net income                             $           0.13   $           0.22
                                       ================   ================

Diluted income per common and common
 equivalent share:
  Income from continuing operations    $           0.13   $           0.24
  Loss from discontinued operations,
   net                                                -              (0.02)
                                       ----------------   ----------------
Net income                             $           0.13   $           0.22
                                       ================   ================

Weighted average number of common and
 common equivalent shares outstanding:
  Basic                                          59,516             43,923
  Diluted                                        59,538             44,015





                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

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


                                           For the            For the
                                         Nine Months        Nine Months
                                             Ended              Ended
                                         September 30,      September 30,
                                             2010               2009
                                       ----------------   ----------------
                                          (unaudited)       (unaudited)

Total net revenues                     $      1,423,443   $      1,406,949
                                       ----------------   ----------------
Costs and expenses:
  Operating salaries and benefits               804,302            789,744
  Self-insurance for workers'
   compensation and general and
   professional liability insurance              43,702             45,617
  Operating administrative costs                 38,932             38,231
  Other operating costs                         291,348            287,233
  Center rent expense                            56,306             54,755
  General and administrative expenses            44,570             48,057
  Depreciation and amortization                  37,732             33,329
  Provision for losses on accounts
   receivable                                    15,985             15,582
  Interest, net of interest income of
   $222 and $310, respectively                   34,366             37,422
  Transaction costs                               6,995                  -
  Loss on sale of assets, net                         -                 41
  Restructuring costs                                 -                872
                                       ----------------   ----------------
Total costs and expenses                      1,374,238          1,350,883
                                       ----------------   ----------------

Income before income taxes and
 discontinued operations                         49,205             56,066
Income tax expense                               19,990             22,795
                                       ----------------   ----------------
Income from continuing operations                29,215             33,271
                                       ----------------   ----------------

Discontinued operations:
  Loss from discontinued operations,
   net of related taxes                          (1,488)            (2,941)
  Loss on disposal of discontinued
   operations, net of related taxes                   -               (334)
                                       ----------------   ----------------
Loss from discontinued operations, net           (1,488)            (3,275)
                                       ----------------   ----------------

Net income                             $         27,727   $         29,996
                                       ================   ================


Basic income per common and common
 equivalent share:
  Income from continuing operations    $           0.58   $           0.76
  Loss from discontinued operations,
   net                                            (0.03)             (0.08)
                                       ----------------   ----------------
Net income                             $           0.55   $           0.68
                                       ================   ================

Diluted income per common and common
 equivalent share:
  Income from continuing operations    $           0.58   $           0.76
  Loss from discontinued operations,
   net                                            (0.03)             (0.08)
                                       ----------------   ----------------
Net Income                             $           0.55   $           0.68
                                       ================   ================

Weighted average number of common and
 common equivalent shares outstanding:
  Basic                                          50,184             43,807
  Diluted                                        50,251             43,926





                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (in thousands)


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

Cash flows from operating activities:
  Net income                           $          7,556   $          9,658
  Adjustments to reconcile net income
   to net cash provided by operating
   activities, including discontinued
   operations:
     Depreciation and amortization               12,736             11,460
     Amortization of favorable and
      unfavorable lease intangibles                (504)              (474)
     Provision for losses on accounts
      receivable                                  5,289              5,318
     Loss on sale of assets, including
      discontinued operations, net                    -                 31
     Stock-based compensation expense             1,661              1,476
     Deferred taxes                               3,286              5,500
  Changes in operating assets and
   liabilities, net of acquisitions:
     Accounts receivable                         (1,307)             1,079
     Restricted cash                              2,769               (710)
     Prepaid expenses and other assets            5,399                382
     Accounts payable                            (4,909)            (6,762)
     Accrued compensation and benefits           (2,117)             4,561
     Accrued self-insurance obligations             199                  4
     Income taxes payable                         1,267                  -
     Other accrued liabilities                    4,429              9,355
     Other long-term liabilities                   (676)            (1,004)
                                       ----------------   ----------------
       Net cash provided by operating
        activities                               35,078             39,874
                                       ----------------   ----------------

Cash flows from investing activities:
  Capital expenditures                          (13,774)           (16,456)
                                       ----------------   ----------------
     Net cash used for investing
      activities                                (13,774)           (16,456)
                                       ----------------   ----------------

Cash flows from financing activities:
  Borrowings of long-term debt                   20,500             20,822
  Principal repayments of long-term
   debt and capital lease obligations          (234,116)           (22,562)
  Proceeds from issuance of common
   stock                                        226,001                 55
  Deferred financing costs                       (2,312)                 -
                                       ----------------   ----------------
     Net cash used for financing
      activities                                 10,073             (1,685)
                                       ----------------   ----------------

Net (decrease) increase in cash and
 cash equivalents                                31,377             21,733
Cash and cash equivalents at beginning
 of period                                      106,973             95,672
                                       ----------------   ----------------
Cash and cash equivalents at end of
 period                                $        138,350   $        117,405
                                       ================   ================

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

  Net cash provided by operating
   activities                          $         35,078   $         39,874
  Capital expenditures                          (13,774)           (16,456)
                                       ----------------   ----------------
    Free cash flow                     $         21,304   $         23,418
                                       ================   ================

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
                                         Nine Months        Nine Months
                                             Ended              Ended
                                         September 30,      September 30,
                                             2010               2009
                                       ----------------   ----------------
                                         (unaudited)        (unaudited)

Cash flows from operating activities:
  Net income                           $         27,727   $         29,996
  Adjustments to reconcile net income
   to net cash provided by operating
   activities, including discontinued
   operations:
     Depreciation and amortization               37,744             33,336
     Amortization of favorable and
      unfavorable lease intangibles              (1,452)            (1,350)
     Provision for losses on accounts
      receivable                                 16,428             15,599
     Loss on sale of assets, including
      discontinued operations, net                    -                607
     Stock-based compensation expense             4,748              4,385
     Deferred taxes                              14,976             18,019
  Changes in operating assets and
   liabilities, net of acquisitions:
     Accounts receivable                        (12,500)           (20,588)
     Restricted cash                              5,040              8,811
     Prepaid expenses and other assets            8,012                144
     Accounts payable                            (3,628)           (11,825)
     Accrued compensation and benefits            1,945              4,927
     Accrued self-insurance obligations           5,041              1,255
     Income taxes payable                         1,605                  -
     Other accrued liabilities                    4,442              8,530
     Other long-term liabilities                 (5,775)               177
                                       ----------------   ----------------
       Net cash provided by operating
        activities                              104,353             92,023
                                       ----------------   ----------------

Cash flows from investing activities:
  Capital expenditures                          (41,488)           (41,458)
  Purchase of leased real estate                      -             (3,275)
  Proceeds from sale of assets held for
   sale                                               -              2,174
                                       ----------------   ----------------
     Net cash used for investing
      activities                                (41,488)           (42,559)
                                       ----------------   ----------------

Cash flows from financing activities:
  Borrowings of long-term debt                   20,500             20,822
  Principal repayments of long-term
   debt and capital lease obligations          (271,093)           (44,249)
  Payment to non-controlling interest            (2,025)              (311)
  Distribution to non-controlling
   interest                                         (69)              (549)
  Proceeds from issuance of common
   stock                                        226,001                 75
  Deferred financing costs                       (2,312)                 -
                                       ----------------   ----------------
     Net cash used for financing
      activities                                (28,998)           (24,212)
                                       ----------------   ----------------

Net increase in cash and cash
 equivalents                                     33,867             25,252
Cash and cash equivalents at beginning
 of period                                      104,483             92,153
                                       ----------------   ----------------
Cash and cash equivalents at end of
 period                                $        138,350   $        117,405
                                       ================   ================

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

  Net cash provided by operating
   activities                          $        104,353   $         92,023
  Capital expenditures                          (41,488)           (41,458)
                                       ----------------   ----------------
    Free cash flow                     $         62,865   $         50,565
                                       ================   ================

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
                                         September 30,    September 30,
                                             2010              2009
                                       ----------------   ----------------
                                          (unaudited)        (unaudited)

  Total net revenues                   $        475,997   $        470,644
                                       ----------------   ----------------

  Net income                           $          7,556   $          9,658
                                       ----------------   ----------------


    Income from continuing operations             7,998             10,539

    Income tax expense                            5,559              7,220

    Interest, net                                10,614             12,231

    Depreciation and amortization                12,733             11,457
                                       ----------------   ----------------

  EBITDA                               $         36,904   $         41,447

    Restructuring costs                               -                872
                                       ----------------   ----------------

  Adjusted EBITDA                      $         36,904   $         42,319


    Center rent expense                          18,954             18,190
                                       ----------------   ----------------

  Adjusted EBITDAR                     $         55,858   $         60,509
                                       ================   ================

EBITDA is defined as earnings before loss on discontinued operations,
income taxes, interest, net, depreciation and amortization.  Adjusted
EBITDA is defined as EBITDA before restructuring costs and 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 be
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
                                         Nine Months        Nine Months
                                             Ended             Ended
                                         September 30,     September 30,
                                             2010               2009
                                       ----------------   ----------------
                                          (unaudited)        (unaudited)

  Total net revenues                   $      1,423,443   $      1,406,949
                                       ----------------   ----------------

  Net income                           $         27,727   $         29,996
                                       ----------------   ----------------


    Income from continuing operations            29,215             33,271

    Income tax expense                           19,990             22,795

    Interest, net                                34,366             37,422

    Depreciation and amortization                37,732             33,329
                                       ----------------   ----------------

  EBITDA                               $        121,303   $        126,817

    Loss on sale of assets, net                       -                 41

    Restructuring costs                               -                872
                                       ----------------   ----------------

  Adjusted EBITDA                      $        121,303   $        127,730


    Center rent expense                          56,306             54,755
                                       ----------------   ----------------

  Adjusted EBITDAR                     $        177,609   $        182,485
                                       ================   ================

EBITDA is defined as earnings before loss on discontinued operations,
income taxes, interest, net, depreciation and amortization.  Adjusted
EBITDA is defined as EBITDA before restructuring costs and 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 be
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 September 30, 2010
                                (unaudited)



                          Rehabil-                    Elimination
                          itation   Medical                of
               Inpatient  Therapy   Staffing  Other &  Affiliated  Consoli-
                Services  Services  Services  Corp Seg  Revenue     dated
                --------  --------  --------  --------  --------  --------
Nonaffiliated
 revenue        $424,160  $ 30,342  $ 21,481  $     14  $      -  $475,997
Affiliated
 revenue               -    21,397       724         -   (22,121)        -
                --------  --------  --------  --------  --------  --------
  Total revenue $424,160  $ 51,739  $ 22,205  $     14  $(22,121) $475,997
                --------  --------  --------  --------  --------  --------

Income (loss)
 from
 continuing
 operations     $ 36,134  $  3,961  $  1,195  $(33,292) $      -  $  7,998
Income tax
 expense               -         -         -     5,559         -     5,559
Interest, net      2,570         -         -     8,044         -    10,614
Depreciation
 and
 amortization     11,630       173       181       749         -    12,733
                --------  --------  --------  --------  --------  --------

  EBITDA        $ 50,334  $  4,134  $  1,376  $(18,940) $      -  $ 36,904

Restructuring
 costs                 -         -         -         -         -         -
                --------  --------  --------  --------  --------  --------

  Adjusted
   EBITDA       $ 50,334  $  4,134  $  1,376  $(18,940) $      -  $ 36,904

Center rent
 expense          18,629       123       202         -         -    18,954
                --------  --------  --------  --------  --------  --------

  Adjusted
   EBITDAR      $ 68,963  $  4,257  $  1,578  $(18,940) $      -  $ 55,858
                ========  ========  ========  ========  ========  ========

  Normalized
   Adjusted
   EBITDA       $ 50,334  $  4,134  $  1,376  $(14,193) $      -  $ 41,651
  Normalized
   Adjusted
   EBITDAR      $ 68,963  $  4,257  $  1,578  $(14,193) $      -  $ 60,605


Adjusted EBITDA
         margin     11.9%      8.0%      6.2%                          7.8%
       Adjusted
 EBITDAR margin     16.3%      8.2%      7.1%                         11.7%
     Normalized
       Adjusted
  EBITDA margin     11.9%      8.0%      6.2%                          8.8%
     Normalized
       Adjusted
 EBITDAR margin     16.3%      8.2%      7.1%                         12.7%

   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 Nine Months Ended September 30, 2010
                                (unaudited)



                       Rehabil-                     Elimination
                       itation   Medical                 of
           Inpatient   Therapy   Staffing   Other &  Affiliated
            Services   Services  Services  Corp Seg   Revenue  Consolidated
           ----------  --------  --------  ---------  --------  ----------
Nonaffiliated
 revenue   $1,265,980  $ 89,723  $ 67,712  $      28  $      -  $1,423,443
Affiliated
 revenue            -    63,584     1,364          -   (64,948)          -
           ----------  --------  --------  ---------  --------  ----------
  Total
   revenue $1,265,980  $153,307  $ 69,076  $      28  $(64,948) $1,423,443
           ----------  --------  --------  ---------  --------  ----------

Income
 (loss)
 from
 continuing
 opera-
 tions     $  113,355  $ 11,757  $  4,479  $(100,376) $      -  $   29,215
Income tax
 expense            -         -         -     19,990         -      19,990
Interest,
 net            8,087         -        (1)    26,280         -      34,366
Depreciation
 and
 amortization  34,320       484       543      2,385         -      37,732
           ----------  --------  --------  ---------  --------  ----------

  EBITDA   $  155,762  $ 12,241  $  5,021  $ (51,721) $      -  $  121,303

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

  Adjusted
   EBITDA  $  155,762  $ 12,241  $  5,021  $ (51,721) $      -  $  121,303

Center
 rent
 expense       55,326       364       616          -         -      56,306
           ----------  --------  --------  ---------  --------  ----------

  Adjusted
   EBITDAR $  211,088  $ 12,605  $  5,637  $ (51,721) $      -  $  177,609
           ==========  ========  ========  =========  ========  ==========

  Normalized
   Adjusted
   EBITDA  $  155,762  $ 12,241  $  5,021  $ (44,726) $      -  $  128,298
  Normalized
   Adjusted
   EBITDAR $  211,088  $ 12,605  $  5,637  $ (44,726) $      -  $  184,604


  Adjusted
    EBITDA
    margin       12.3%      8.0%      7.3%                             8.5%
  Adjusted
   EBITDAR
    margin       16.7%      8.2%      8.2%                            12.5%
Normalized
  Adjusted
    EBITDA
    margin       12.3%      8.0%      7.3%                             9.0%
Normalized
  Adjusted
   EBITDAR
    margin       16.7%      8.2%      8.2%                            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 September 30, 2009
                                (unaudited)


                          Rehabil-                    Elimination
                          itation   Medical                of
               Inpatient  Therapy   Staffing  Other &  Affiliated  Consoli-
                Services  Services  Services  Corp Seg  Revenue     dated
                --------  --------  --------  --------  --------  --------
Nonaffiliated
 revenue        $420,374  $ 26,394  $ 23,864  $     12  $      -  $470,644
Affiliated
 revenue               -    18,592       545         -   (19,137)        -
                --------  --------  --------  --------  --------  --------
  Total revenue $420,374  $ 44,986  $ 24,409  $     12  $(19,137) $470,644
                --------  --------  --------  --------  --------  --------

Income (loss)
 from
 continuing
 operations     $ 39,481  $  2,606  $  2,091  $(33,639) $      -  $ 10,539
Income tax
 expense               -         -         -     7,220         -     7,220
Interest, net      3,024         -        (1)    9,208         -    12,231
Depreciation
 and
 amortization     10,480       140       179       658         -    11,457
                --------  --------  --------  --------  --------  --------

  EBITDA        $ 52,985  $  2,746  $  2,269  $(16,553) $      -  $ 41,447

Restructuring
 costs                 -         -         -       872         -       872
                --------  --------  --------  --------  --------  --------

  Adjusted
   EBITDA       $ 52,985  $  2,746  $  2,269  $(15,681) $      -  $ 42,319
Center rent
 expense          17,848       119       223         -         -    18,190
                --------  --------  --------  --------  --------  --------

  Adjusted
   EBITDAR      $ 70,833  $  2,865  $  2,492  $(15,681) $      -  $ 60,509
                ========  ========  ========  ========  ========  ========

  Normalized
   Adjusted
   EBITDA       $ 52,985  $  2,746  $  2,269  $(15,681) $      -  $ 42,319
  Normalized
   Adjusted
   EBITDAR      $ 70,833  $  2,865  $  2,492  $(15,681) $      -  $ 60,509


Adjusted EBITDA
         margin     12.6%      6.1%      9.3%                          9.0%
       Adjusted
 EBITDAR margin     16.8%      6.4%     10.2%                         12.9%
     Normalized
       Adjusted
  EBITDA margin     12.6%      6.1%      9.3%                          9.0%
     Normalized
       Adjusted
 EBITDAR margin     16.8%      6.4%     10.2%                         12.9%

   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 Nine Months Ended September 30, 2009
                                (unaudited)


                       Rehabil-                       Elimina-
                       itation   Medical              tion of
           Inpatient   Therapy   Staffing   Other &   Affiliated
            Services   Services  Services  Corp Seg    Revenue
Consolidated
           ----------  --------  --------  ---------  --------  ----------
Nonaffiliated
 revenue   $1,251,524  $ 78,063  $ 77,335  $      27  $      -  $1,406,949
Affiliated
 revenue            -    55,168     1,668          -   (56,836)          -
           ----------  --------  --------  ---------  --------  ----------
  Total
   revenue $1,251,524  $133,231  $ 79,003  $      27  $(56,836) $1,406,949
           ----------  --------  --------  ---------  --------  ----------

Income
 (loss)
 from
 continuing
 opera-
 tions     $  120,395  $  8,572  $  6,401  $(102,097) $      -  $   33,271
Income tax
 expense            -         -         -     22,795         -      22,795
Interest,
 net            9,345        (2)       (1)    28,080         -      37,422
Depreciation
 and
 amortization  30,323       399       601      2,006         -      33,329
           ----------  --------  --------  ---------  --------  ----------

  EBITDA   $  160,063  $  8,969  $  7,001  $ (49,216) $      -  $  126,817

Loss on sale
 of assets,
 net                7        34         -          -         -          41
Restructuring
 costs              -         -         -        872         -         872
           ----------  --------  --------  ---------  --------  ----------

  Adjusted
   EBITDA  $  160,070  $  9,003  $  7,001  $ (48,344) $      -  $  127,730
Center
 rent
 expense       53,707       348       700          -         -      54,755
           ----------  --------  --------  ---------  --------  ----------

  Adjusted
   EBITDAR $  213,777  $  9,351  $  7,701  $ (48,344) $      -  $  182,485
           ==========  ========  ========  =========  ========  ==========

  Normalized
   Adjusted
   EBITDA  $  164,370  $  9,003  $  7,001  $ (48,344) $      -  $  132,030
  Normalized
   Adjusted
   EBITDAR $  218,077  $  9,351  $  7,701  $ (48,344) $      -  $  186,785


  Adjusted
    EBITDA
    margin       12.8%      6.8%      8.9%                             9.1%
  Adjusted
   EBITDAR
    margin       17.1%      7.0%      9.7%                            13.0%
Normalized
  Adjusted
    EBITDA
    margin       13.1%      6.8%      8.9%                             9.4%
Normalized
  Adjusted
   EBITDAR
    margin       17.4%      7.0%      9.7%                            13.3%

   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               Nine Months Ended
                 September 30,                   September 30,
            -----------------------       ---------------------------
              2010           2009            2010             2009
Consolidated
 Company
            --------       --------       ----------       ----------
Revenues -
 Non-
 affiliated
 (in
 thousands)
  Skilled
   Nursing
   and
   similar
   facilit-
   ies      $412,295       $412,550        1,230,684        1,230,551
  Hospice     11,277          7,242           33,633           19,249
  Other -
   Inpatient
   Services      588            582            1,663            1,724
            --------       --------       ----------       ----------
   Inpatient
    Services 424,160        420,374        1,265,980        1,251,524
  Rehabili-
   tation
   Therapy
   Services   30,342         26,394           89,723           78,063
  Medical
   Staffing
   Services   21,481         23,864           67,712           77,335
  Other -
   non-core
   businesses     14             12               28               27
            --------       --------       ----------       ----------
    Total   $475,997       $470,644       $1,423,443       $1,406,949
            ========       ========       ==========       ==========


Revenue Mix
 -
 Non-
 affiliated
 (in
 thousands)
  Medicare  $138,125   29% $137,857   29%    421,398   30%    417,059   30%
  Medicaid   194,936   41%  189,878   40%    574,856   40%    559,358   40%
  Private
   and
   Other     113,610   24%  114,143   25%    339,492   24%    341,424   24%
  Managed
   Care /
   Insurance  24,178    5%   24,393    5%     72,636    5%     76,591    5%
  Veterans     5,148    1%    4,373    1%     15,061    1%     12,517    1%
            --------  ---  --------  ---  ----------  ---  ----------  ---
    Total   $475,997  100% $470,644  100% $1,423,443  100% $1,406,949  100%
            ========  ===  ========  ===  ==========  ===  ==========  ===


Inpatient
 Services
 Stats
 Number of
  centers:       202            202              202              202
 Number of
  available
  beds:       22,407         22,331           22,407           22,331
 Occupancy
  %:            86.9%          88.1%            87.1%            88.3%


 Payor Mix
  % based
  on
  patient
  days:
   Medicare
    - SNF
    Beds        14.7%          15.3%            15.2%            15.8%
   Managed
    care /
    Ins. -
    SNF
    Beds         3.9%           3.9%             4.0%             4.1%
            --------       --------       ----------       ----------
     Total
      SNF
      skilled
      mix       18.6%          19.2%            19.2%            19.9%
            --------       --------       ----------       ----------
  Medicare      13.4%          14.0%            13.9%            14.4%
  Medicaid      62.5%          60.6%            62.2%            60.4%
  Private
   and
   Other        19.4%          20.8%            19.1%            20.4%
  Managed
   Care /
   Insurance     3.5%           3.6%             3.6%             3.8%
  Veterans       1.2%           1.0%             1.2%             1.0%

 Revenue
  Mix % of
  revenues:
   Medicare
    - SNF
    Beds        31.1%          32.2%            31.9%            32.9%
   Managed
    care /
    Ins. -
    SNF
    Beds         6.0%           6.1%             6.0%             6.4%
            --------       --------       ----------       ----------
     Total
      SNF
      skilled
      mix       37.1%          38.3%            37.9%            39.3%
            --------       --------       ----------       ----------
  Medicare      31.4%          31.9%            32.2%            32.4%
  Medicaid      46.0%          45.2%            45.4%            44.7%
  Private
   and
   Other        15.8%          16.1%            15.5%            15.8%
  Managed
   Care /
   Insurance     5.6%           5.8%             5.7%             6.1%
  Veterans       1.2%           1.0%             1.2%             1.0%


 Revenues
  PPD:
  LTC only
   Medicare
   (Part A) $ 463.36       $ 457.79       $   464.46       $   454.15
  Medicare
   Blended
   Rate
   (Part A
   & B)     $ 505.73       $ 496.11       $   504.05       $   491.94
  Medicaid  $ 173.49       $ 172.06       $   173.29       $   170.86
  Private
   and
   Other    $ 182.95       $ 175.29       $   184.95       $   175.82
  Managed
   Care /
   Insurance$ 375.76       $ 371.09       $   369.09       $   373.86
  Veterans  $ 238.74       $ 234.74       $   241.44       $   229.95

Rehab
 contracts
Affiliated       132            121              132              121
Non-affiliated   344            328              344              328

Average
 Qtrly
 Revenue
 per
 Contract
 (in thou-
 sands)     $    109       $    100       $      107       $       99






                SUN HEALTHCARE GROUP, INC. AND SUBSIDIARIES

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

                             AS REPORTED - 3rd QUARTER 2010
             -------------------------------------------------------------
                                                  Income
                                                   from
                     Adjusted  Adjusted         Continuing  Disc     Net
             Revenue  EBITDAR   EBITDA  Pre-tax Operations   Ops    Income
             -------- -------  -------  -------  -------  -------  -------

As Reported
 3rd QUARTER
 2010        $475,997 $55,858  $36,904  $13,557  $ 7,998  $  (442) $ 7,556
  Percent of
     Revenue             11.7%     7.8%     2.8%     1.7%    -0.1%     1.6%
Normalizing
 Adjustments:

 REIT
  separation
  transaction
  costs             -   4,747    4,747    4,747    2,801        -    2,801
             -------- -------  -------  -------  -------  -------  -------

Normalized
 As Reported
 - 3rd
 QUARTER
 2010        $475,997 $60,605  $41,651  $18,304  $10,799  $  (442) $10,357
             ======== =======  =======  =======  =======  =======  =======
  Percent of
     Revenue             12.7%     8.8%     3.8%     2.3%    -0.1%     2.2%

Diluted EPS:
 As Reported                                     $  0.13  $     -  $  0.13
 As Normalized                                   $  0.18  $ (0.01) $  0.17



Weighted average
 number of common
 and common
 equivalent
 shares
 outstanding
 on a diluted                                                      Diluted
 basis:                                                             Shares
                                                                   -------

 As Reported
  / As
  Normalized
  diluted
  shares                                                            59,538
 Stock
  offering
  impact on
  diluted
  shares                                                           (15,412)
                                                                   -------

 As Adjusted
  diluted
  shares                                                            44,126
                                                                   =======






                             AS REPORTED - 3rd QUARTER 2009
             -------------------------------------------------------------
                                                  Income
                                                   from
                     Adjusted  Adjusted         Continuing  Disc     Net
             Revenue  EBITDAR   EBITDA  Pre-tax Operations   Ops    Income
             -------- -------  -------  -------  -------  -------  -------

As Reported
 - 3rd
 QUARTER
 2009        $470,644 $60,509  $42,319  $17,759  $10,539  $  (881) $ 9,658
Percent of
 Revenue                 12.9%     9.0%     3.8%     2.2%    -0.2%     2.1%
Normalizing
 Adjustments:

 Restructuring
  costs             -       -        -      872      514        -      514
             -------- -------  -------  -------  -------  -------  -------

Normalized
 As Reported
 - 3rd
 QUARTER
 2009        $470,644 $60,509  $42,319  $18,631  $11,053  $  (881) $10,172
             ======== =======  =======  =======  =======  =======  =======
  Percent of
     Revenue             12.9%     9.0%     4.0%     2.3%    -0.2%     2.2%

Diluted EPS:
 As Reported                                     $  0.24  $ (0.02) $  0.22
 As Normalized                                   $  0.25  $ (0.02) $  0.23





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 REIT separation transaction costs and
restructuring costs.

Normalizing adjustments do not include any adjustment for the August 2010
equity offering or the use of proceeds to pay down debt, avoiding interest
expense.

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 -NINE MONTHS 2010
             -------------------------------------------------------------
                                                    Income
                                                     from
                                                  Continuing
                        Adjusted  Adjusted   Pre-   Opera-   Disc     Net
              Revenue   EBITDAR    EBITDA     tax   tions     Ops   Income
             ---------- --------  --------  ------  ------  ------  ------

As Reported
 - Nine
 Months 2010 $1,423,443 $177,609  $121,303 $49,205 $29,215 $(1,488)$27,727
  Percent of
     Revenue                12.5%      8.5%    3.5%    2.1%   -0.1%    1.9%

Normalizing
 Adjustments:

 REIT
  separation
  transaction
  costs               -    6,995     6,995   6,995   4,127       -   4,127
             ---------- --------  --------  ------  ------  ------  ------

Normalized
 As Reported
 - Nine
 Months 2010 $1,423,443 $184,604  $128,298 $56,200 $33,342 $(1,488)$31,854
             ========== ========  ========  ======  ======  ======  ======
  Percent of
     Revenue                13.0%      9.0%    3.9%    2.3%   -0.1%    2.2%

Diluted EPS:
 As Reported                                        $ 0.58  $(0.03) $ 0.55
 As
  Normalized                                        $ 0.66  $(0.03) $ 0.63




Weighted average
 number of common and
 common equivalent
 shares
 outstanding
 on a diluted                                                      Diluted
 basis:                                                             Shares
                                                                    ------

 As Reported
  / As
  Normalized
  diluted
  shares                                                            50,251
 Stock
  offering
  impact on
  diluted
  shares                                                            (5,879)
                                                                    ------

 As Adjusted
  diluted
  shares                                                            44,372
                                                                    ======





                             AS REPORTED - NINE MONTHS 2009
             -------------------------------------------------------------
                                                    Income
                                                     from
                                                  Continuing
                        Adjusted  Adjusted   Pre-   Opera-   Disc     Net
              Revenue   EBITDAR    EBITDA     tax   tions     Ops   Income
             ---------- --------  --------  ------  ------  ------  ------

As Reported
 - Nine
 Months 2009 $1,406,949 $182,485  $127,730 $56,066 $33,271 $(3,275)$29,996
  Percent of
     Revenue                13.0%      9.1%    4.0%    2.4%   -0.2%    2.1%

Normalizing
 Adjustments:

 Restructuring
  costs               -        -         -     872     514       -     514
 Prior
  periods'
  self-
  insurance
  costs               -    4,300     4,300   4,300   2,537     348   2,885
             ---------- --------  --------  ------  ------  ------  ------

Normalized
 As Reported
 - Nine
 Months 2009 $1,406,949 $186,785  $132,030 $61,238 $36,322 $(2,927)$33,395
             ========== ========  ========  ======  ======  ======  ======
  Percent of
     Revenue                13.3%      9.4%    4.4%    2.6%   -0.2%    2.4%

Diluted EPS:
 As Reported                                        $ 0.76  $(0.08) $ 0.68
 As Normalized                                      $ 0.83  $(0.07) $ 0.76



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 REIT separation transaction costs,
restructuring costs and prior periods' self-insurance costs.

Normalizing adjustments do not include any adjustment for the August 2010
equity offering or the use of proceeds to pay down debt, avoiding interest
expense.

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

TomoTherapy Announces Third Quarter Financial Results

Posted on October 27, 2010 Written by Editor

SOURCE: TomoTherapy

Reports $43.6 Million of Revenue and $35.0 Million of Equipment Orders; Raises 2010 Revenue Guidance

MADISON, WI–(Marketwire – October 27, 2010) – TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for cancer care, today
released financial results for the third quarter ended September 30, 2010.

Third Quarter Results

Third quarter 2010 revenue was $43.6 million, an increase of 27% from $34.4
million in the third quarter of 2009. Revenue from product sales was $29.8
million in the third quarter of 2010, up 23% compared to the same quarter
last year, and revenue from service and other was $13.8 million in the
third quarter of 2010, up 37% compared to the same quarter last year. The
company reported a third quarter 2010 loss from operations of $14.6
million, a 10% decrease from the $16.1 million loss from operations for the
same period last year.

The company incurred a net loss attributable to shareholders of $10.9
million, or $0.21 per share, for the third quarter of 2010, compared to a
net loss of $13.9 million, or $0.27 per share, for the third quarter of
2009.

As of September 30, 2010, the company had $140.0 million of cash, cash
equivalents and short-term investments, representing a $5.6 million
decrease from June 30, 2010. There were no borrowings against the
company’s credit facility during the quarter.

As of September 30, 2010, the company had a revenue backlog of $146.4
million, a 5% increase from the $139.2 million backlog as of June 30, 2010.
The backlog includes $35.0 million of equipment orders received during the
third quarter of 2010. Backlog includes firm orders that the company
believes are likely to ship within the next two years, as well as the
minimum payments for system rental contracts. Backlog does not include any
revenue from service contracts, which represents a growing portion of the
company’s overall revenue.

“We are encouraged by our third quarter financial performance, which
reflects substantial improvement from the same period last year and
demonstrates that our efforts on several key fronts are yielding results,”
said Fred Robertson, TomoTherapy’s CEO. “Importantly, our year-over-year
revenue growth is attributable to strength in product sales as well as
service. On the product side, we have increased our backlog for two
consecutive quarters as a result of a stronger, more integrated global
sales and marketing efforts combined with the market’s demand for our new,
more diverse product offerings. Service and other sales also continued to
grow at a significant rate in comparison to the prior year, and at the same
time, we maintained leading customer service rankings. We are focused on
driving product sales in the geographic regions we have targeted, while
simultaneously continuing to improve the reliability of our systems,
including enhancing machine uptime and reducing maintenance required, as we
continue on our path to return to profitability.”

Nine-Month Results

For the nine months ended September 30, 2010, revenue was $133.3 million, a
26% increase from $106.1 million for the nine months ended September 30,
2009. Revenue from product sales was $93.2 million in the first nine
months of 2010, up 23% compared to the first nine months of 2009, and
revenue from service and other was $40.1 million in the first nine months
of 2010, up 33% compared to the first nine months of 2009.

The company reported a year-to-date 2010 loss from operations of $28.9
million, a 27% decrease from the loss from operations of $39.8 million
during the first nine months of 2009. The company incurred a net loss
attributable to shareholders of $22.5 million, or $0.43 per share, for the
nine months ended September 30, 2010, compared to a net loss attributable
to shareholders of $34.0 million, or $0.67 per share, for the same period
last year.

During the first nine months of 2010, the company’s cash, cash equivalents
and short-term investments decreased by $14.3 million. In the same period,
the company’s backlog increased by $10.6 million, from $135.8 million as of
December 31, 2009 to $146.4 million as of September 30, 2010.

Outlook

The company is revising upward its revenue guidance for full-year 2010.
Management now expects 2010 revenue to be $175 million to $185 million, as
compared to the previous range of $160 million to $180 million.
Additionally, the net loss attributable to shareholders is now projected to
be in the range of $0.65 to $0.75 per share, as compared to the previous
projection of $0.65 to $0.85 per share.

Robertson concluded, “Our year-to-date results continue to show improving
revenue and margins. Coupled with our backlog growth, we now expect
stronger top-line results than we had anticipated earlier in the year.
While global market conditions remain difficult to assess, there have been
positive indications recently that demand is stabilizing. We are seeing
strong indications of interest in our new product offerings throughout
North America, Europe and the Asia Pacific region and continue to believe
there are significant growth opportunities across these geographies.
Moreover, based on many published reports regarding TomoTherapy treatment,
we believe that the market is increasingly recognizing the benefits of this
radiation therapy approach.”

Investor Conference Call

TomoTherapy will conduct a conference call regarding its third quarter 2010
results at 5:00 p.m. ET today, October 27, 2010 (4:00 p.m. CT). 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
1-800-638-4817 from inside the United States or 1-617-614-3943 from outside
the United States, and enter pass code 19539609. 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
40905886. The telephone replay will be available through 10:59 p.m. CT on
November 3, 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     Nine Months Ended
                                    September 30,         September 30,
                                --------------------  --------------------
                                  2010       2009       2010       2009
                                ---------  ---------  ---------  ---------
Revenue:
 Product                        $  29,759  $  24,252  $  93,230  $  75,937
 Service and other                 13,823     10,126     40,062     30,144
                                ---------  ---------  ---------  ---------
  Total revenue                    43,582     34,378    133,292    106,081
                                ---------  ---------  ---------  ---------
Cost of revenue:
 Product                           16,233     13,782     46,372     39,779
 Service and other                 20,339     17,038     54,848     51,690
                                ---------  ---------  ---------  ---------
  Total cost of revenue            36,572     30,820    101,220     91,469
                                ---------  ---------  ---------  ---------
   Gross profit                     7,010      3,558     32,072     14,612
                                ---------  ---------  ---------  ---------
Operating expenses:
  Research and development          8,228      7,218     24,728     20,086
  Selling, general and
   administrative                  13,342     12,470     36,286     34,347
                                ---------  ---------  ---------  ---------
   Total operating expenses        21,570     19,688     61,014     54,433
                                ---------  ---------  ---------  ---------
Loss from operations              (14,560)   (16,130)   (28,942)   (39,821)
Other income (expense):
  Interest income                     342        617      1,289      2,009
  Interest expense                     (4)       (18)       (27)       (47)
  Other income (expense), net       1,539        105        513       (258)
                                ---------  ---------  ---------  ---------
   Total other income (expense)     1,877        704      1,775      1,704
                                ---------  ---------  ---------  ---------
Loss before income tax and
 noncontrolling interests         (12,683)   (15,426)   (27,167)   (38,117)
  Income tax expense (benefit)         47        256         13       (162)
                                ---------  ---------  ---------  ---------
Net loss                          (12,730)   (15,682)   (27,180)   (37,955)
  Noncontrolling interests          1,842      1,802      4,691      3,953
                                ---------  ---------  ---------  ---------
Net loss attributable to
 shareholders                   $ (10,888) $ (13,880) $ (22,489) $ (34,002)
                                =========  =========  =========  =========

Weighted-average common shares
 outstanding -
 basic and diluted                 51,934     50,748     51,739     50,645
                                =========  =========  =========  =========

Loss per common share - basic
 and diluted                    $   (0.21) $   (0.27) $   (0.43) $   (0.67)
                                =========  =========  =========  =========



                TOMOTHERAPY INCORPORATED AND SUBSIDIARIES

                  CONDENSED CONSOLIDATED BALANCE SHEETS
                              (In thousands)
                                (unaudited)

                                                 September 30, December 31,
                                                      2010         2009
                                                  ------------ ------------
                   ASSETS
Cash and cash equivalents                         $    110,424 $     76,108
Short-term investments                                  29,612       78,225
Receivables, net                                        34,454       33,559
Inventories, net                                        53,014       47,669
Prepaid expenses and other current assets                3,352        3,633
                                                  ------------ ------------
  Total current assets                                 230,856      239,194
Property and equipment, net                             21,305       18,628
Other non-current assets, net                           11,168       12,429
                                                  ------------ ------------
 TOTAL ASSETS                                     $    263,329 $    270,251
                                                  ============ ============


           LIABILITIES AND EQUITY
Accounts payable                                  $     14,095 $      6,269
Accrued expenses                                        23,415       19,588
Accrued warranty                                         4,115        4,173
Deferred revenue                                        30,877       34,145
Customer deposits                                       14,801       13,266
                                                  ------------ ------------
  Total current liabilities                             87,303       77,441
Other non-current liabilities                            3,213        5,475
                                                  ------------ ------------
  TOTAL LIABILITIES                                     90,516       82,916

Total shareholders' equity                             167,007      183,424
Noncontrolling interests                                 5,806        3,911
                                                  ------------ ------------
  TOTAL EQUITY                                         172,813      187,335
                                                  ------------ ------------
  TOTAL LIABILITIES AND EQUITY                    $    263,329 $    270,251
                                                  ============ ============

Filed Under: Healthcare Business

MTA and University Richmond Partner for Medical Tourism Certification

Posted on October 27, 2010 Written by Editor

WEST PALM BEACH, FLORIDA–(Marketwire – Oct. 27, 2010) – The Medical Tourism Association and the University of Richmond have launched a “Medical Tourism Certification” program, which will officially launch in 2011. The University of Richmond’s School of Continuing Studies will work in partnership with the Medical Tourism Association in creating a curriculum and selecting instructors.

The professional certificate program will require six courses to complete, and each course will be available in both English and Spanish. The courses will be offered completely online, allowing the program to reach an international audience. Each course will cost $199 and will take four weeks to complete. Students will be able to participate in these courses anywhere, at any time, and at their own pace during the four-week period.

In the online classroom, students will be able to view lectures and presentations, read articles, engage in discussions with other students and faculty, answer questions and take quizzes.

In addition to earning the Professional Studies Certificate from the University of Richmond, students will also earn Continuing Education Units, or CEUs, for each class they complete. Courses can be taken individually, or as part the entire certificate program. The Medical Tourism Certification will provide a standard of best practices for those who work in this field.

“This is the first certification program for medical tourism taught by an established and leading university and educational system. This program will be a great opportunity for those individuals in the industry who are looking for advanced education and to set them apart,” said, Renée-Marie Stephano, President of the Medical Tourism Association and Chief Editor of the Medical Tourism Magazine.

“We are very excited to partner with the Medical Tourism Association, who has clearly established itself as the leader in the industry. We feel this program will be invaluable to potential students from around the world who are looking for certification in medical tourism,” said Stephanie Bowlin, Non-Credit Program Manager at the University of Richmond. “We are looking forward to working with the MTA to put together a cutting edge curriculum and schedule and bringing in some of the leaders in medical tourism and international healthcare as professors and teachers for this online certificate program.” 

About the Medical Tourism Association

The Medical Tourism Association™ (Global Healthcare Association) is the international non-profit trade association for the medical tourism and global healthcare industry made up of the top international hospitals, healthcare providers, medical travel facilitators, insurance companies, and other affiliated companies and members with the common goal of promoting the highest level of quality of healthcare to patients in a global environment. Our Association promotes the interests of its healthcare provider and medical tourism facilitator members. The Medical Tourism Association™ (Global Healthcare Association) has three tenets: Transparency in Quality and Pricing, Communication and Education.

For more information about the MTA http://www.medicaltourismassociation.com.

About the University of Richmond

The University of Richmond is a highly selective, liberal arts university located on a 350-acre suburban campus located in Richmond, Virginia. Founded in 1830, the University of Richmond provides a learning environment unlike any other in higher education, offering students an extraordinary combination of the liberal arts with law, business, leadership studies, and continuing education. The School of Continuing Studies primarily serves non-traditional students, offering a variety of undergraduate and graduate degrees for adults as well as non-credit certification and professional development programs.

For More Information on University of Richmond: http://scs.richmond.edu/medical-tourism. 

For More Information about this Medical Tourism Certification or to request an opportunity to provide curriculum for the program, please contact:

Gaby Vicuña

Global Program Coordinator

[email protected]

US 561-791-2000

Filed Under: Healthcare Business

ISSYS Inc. Awarded Another Patent for Wireless, Batteryless, Implantable Sensors

Posted on October 27, 2010 Written by Editor

SOURCE: Integrated Sensing Systems

YPSILANTI, MI–(Marketwire – October 27, 2010) –  Integrated Sensing Systems, Inc. (ISSYS) announced that the U.S Patent Office has granted a patent titled “Wireless Device and System for Monitoring Physiological Parameters” (US Patent No. 7,686,762) which covers the overall structure of ISSYS’ miniature, wireless, batteryless, implantable sensors for non-invasive monitoring of biological pressures for the effective management of chronic diseases.

ISSYS has also developed accompanying anchors and delivery systems that allow its wireless, batteryless, sensors to be implanted within the body via 3 distinct approaches: transcatheter delivery, open heart surgery, and minimally invasive surgery. 

Dr. Nader Najafi, ISSYS CEO, stated that “ISSYS’ intellectual properties (patents, know how, and trade secrets) cover a wide spectrum including MEMS pressure sensor, the overall system, delivery and anchoring, and a variety of medical applications. Another major competitive advantage for ISSYS is its newly expanded manufacturing facility that is capable of producing tens of thousands of the miniature implants per year. The particular targets of ISSYS products are cardiovascular disease, especially congestive heart failure (CHF), hydrocephalus (high brain pressure), and traumatic brain injuries (TBI). ISSYS plans to start its cardiovascular clinical studies in 2011.”

Company Background: ISSYS is a leader in advanced MEMS technologies for industrial, medical, microfluidic and scientific analytical sensing applications. Founded in 1995, ISSYS is one of the oldest independent MEMS companies in the US. ISSYS operates a comprehensive, state-of-the-art MEMS fabrication facility located near Ann Arbor, Michigan. ISSYS is currently ISO 9001:2008 certified and compliant to EN13980:2002 for its ATEX (intrinsically safe) and CE approved products. ISSYS Quality System is also designed to meet the ISO13485:2003 standard. ISSYS is a vertically integrated company dedicated to developing and manufacturing system-level products based on MEMS technology (MEMS Inside), please visit: http://www.mems-issys.com/

Contact:
Dr. Nader Najafi
Integrated Sensing Systems Inc. (ISSYS)
391 Airport Industrial Dr., Ypsilanti, MI 48198
Tel: (734) 547-9896 Ext. 103
Fax: (734) 547-9964
Email: [email protected]

Filed Under: Healthcare Business

AdCare Health Systems Closes $11,050,000 Convertible Note Offering

Posted on October 26, 2010 Written by Editor

SOURCE: AdCare

SPRINGFIELD, OH–(Marketwire – October 26, 2010) – AdCare Health Systems, Inc. (NYSE Amex: ADK), a recognized innovator in senior living and health care facility management, has closed a private placement of $11,050,000 of unsecured subordinated convertible notes due October 2013 to certain accredited investors.

The notes, which are unsecured and subordinated in right of payment to existing and future senior indebtedness, will pay interest quarterly at an annual rate of 10.0% and are convertible into shares of common stock of AdCare at an initial conversion price of $4.13 per share, which is equal to an initial conversion rate of 242.13 shares per $1,000 principal amount of the notes. The initial conversion price, which is equal to 115% of the 15-day volume-weighted average price of AdCare’s common stock prior to the closing of the transaction, is subject to full-ratchet anti-dilution protection, subject to customary exclusions as set forth in the notes.

If after six (6) months from the closing of the transaction, AdCare’s common stock trades at or above 200% of the conversion price for 20 out of 30 consecutive trading days, with an average daily trading volume of over 50,000 shares, then AdCare may, subject to the satisfaction of certain other conditions, redeem the notes in cash at a price equal to the sum of (i) 100% of the principal being redeemed plus (ii) any accrued and unpaid interest on the principal, plus late charges, if any.

Approximately $3.5 million in principal amount of the notes were issued in exchange for, and as a result of the cancellation of, an equal principal amount of promissory notes previously issued on September 30, 2010, as reported by AdCare in a Form 8-K filed with the Securities and Exchange Commission on October 6, 2010. 

AdCare expects to use the proceeds from this financing for general corporate purposes, including the acquisition of two nursing home facilities in Alabama, and general and administrative expenses.

C. K. Cooper & Company acted as lead placement agent for the offering, with GVC Capital, LLC and Cantone Research Partners serving as co-placement agents.

The notes were offered and issued only to accredited investors in a private placement transaction under Section 4(2) under the Securities Act of 1933 and the rules and regulations promulgated thereunder. Accordingly, the securities offered in this placement have not been registered under the Securities Act of 1933 or state securities laws, and cannot be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements. As part of the transaction, AdCare has agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock to be issued upon conversion of the notes.

This news release is neither an offer to sell nor a solicitation of an offer to buy any of the securities discussed herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any state.

About AdCare Health Systems
AdCare Health Systems, Inc. (NYSE Amex: ADK) is a recognized innovator in senior living and health care facility management. AdCare develops, owns and manages assisted living facilities, nursing homes and retirement communities, as well as provides home health care services. Since its inception in 1988, AdCare’s mission has been to provide the highest quality of healthcare services to the elderly. For more information about AdCare, visit www.adcarehealth.com.

Forward-Looking Statements Disclaimer
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such forward-looking statements reflect management’s beliefs and assumptions and are based on information currently available to management, and involve known and unknown risks, results, performance or achievements of the company which may differ materially from those expressed or implied in such statements. Such factors are identified in the public filings made by the company with the Securities and Exchange Commission and include, among others, the company’s ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the industry, changes in reimbursement levels including those under the Medicare and Medicaid programs and changes in the competitive marketplace. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements. Except where required by law, AdCare undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

Company Contacts
David A. Tenwick
Chairman
Tel (740) 549-0400, or
Chris Brogdon
Vice Chairman and CAO
Tel (937) 964-8974
AdCare Health Systems, Inc.
Email Contact

Investor Relations
Scott Liolios or Ron Both
Liolios Group, Inc.
Tel (949) 574-3860
Email: Email Contact

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Filed Under: Healthcare Business, Hospitals and Health Systems

SCI Solutions Completes Fiscal Year With Record New Contract Sales

Posted on October 26, 2010 Written by Editor

SOURCE: SCI Solutions

Web-Based Access Management Company Expands Self-Service Capabilities

LOS GATOS, CA–(Marketwire – October 26, 2010) – SCI Solutions, the premier Access Management solution provider for healthcare, today announced it has completed its 2010 fiscal year with another record-setting sales period. SCI Solutions signed 42 new customer contracts representing 86 hospitals, for its award-winning Access Management Solutions: Order Facilitator®, Schedule Maximizer®, Revenue Accelerator® and Consumer and Provider self-scheduling Portals. Schedule Maximizer is an Internet-based, enterprise Access Management solution that combines sophisticated workflow technology to streamline a hospital’s complex patient and resource scheduling requirements. Order Facilitator is an Internet-based web solution for automating outpatient orders for hospital services from community physicians. Revenue Accelerator is a revenue cycle workflow system that streamlines pre-registration, prepares patients for arrival and expedites service delivery. SCI’s self-service scheduling portals provide 24×7 self-service scheduling options to both consumers and physicians.

Founded in 1999, SCI Solutions, then known as scheduling.com, brought web-native technology and a dramatically new business model to healthcare. With a focus on improving the increasingly complex nature of scheduling healthcare services and procedures, SCI was the first to offer effective, mission-critical, enterprise solutions via the Internet. Over the past ten years, SCI has demonstrated how a focus on efficient, effective, patient access processes can generate significant benefits for integrated delivery networks and healthcare communities. SCI’s current customer base is comprised of over 390 healthcare delivery systems dedicated to improving customer service, maximizing resources, ensuring accurate data collection, and improving overall access to care.

According to Stuart Hammond, SCI’s Senior Vice President of Sales, “Despite the economic challenges faced by the healthcare industry this year, SCI has successfully proven the value of advanced healthcare Access Management solutions.” He continued, “Our new and existing customers truly understand how the impact of improved access and revenue cycle directly affects the profitability and overall health of their organization.”

“SCI’s customer base ranges from Alaska to Florida encompassing many of the 50 states,” stated John Holton, SCI’s President and CEO. He continued, “This is a testament to the range of healthcare facilities nationwide that have turned to advanced Access Management solutions to honor their commitment to organizational and financial improvements.”

About SCI Solutions
SCI Solutions is transforming healthcare Access Management with products and services that facilitate the efficient and secure exchange of clinical and financial information between patients, physicians and healthcare facilities. SCI provides a variety of products and self-service portals that help physicians and patients interact easily and at their convenience for many of their access-related needs. From a hospital’s clinical departments, to its financial executives, to its physicians, SCI improves their effectiveness while making the patient’s service experience first class.

SCI Solutions is headquartered in Los Gatos, CA with additional offices in Tucson, AZ, Pensacola, FL and employees throughout the United States. For more information about SCI Solutions visit www.scisolutions.com.

Executive Contact:
Cindy Dullea
Senior VP, Marketing
408.378.0262 ext. 522
Email Contact

Marketing Contact:
Cheryl Monahan
Marketing Support Specialist
408.378.0262 ext. 530
Email Contact

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Filed Under: Healthcare Business

Sun Healthcare Group, Inc. Announces Anticipated Record and Distribution Dates in Connection With Its Restructuring Plan

Posted on October 26, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – October 26, 2010) –  Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced details concerning the anticipated timing of Sun’s previously announced plan to restructure its business by separating its operating assets and its real estate assets into two separate publicly-traded companies. As previously described, the separation of Sun’s operating assets will occur by means of a spin-off transaction pursuant to which Sun will distribute to its stockholders on a pro rata basis (the “Distribution”) all of the outstanding shares of common stock of its wholly-owned subsidiary, SHG Services, Inc. (“New Sun”). Following the Distribution, Sun will merge with and into its wholly-owned subsidiary, Sabra Health Care REIT, Inc., a Maryland corporation (“Sabra”). Immediately following completion of both transactions, New Sun will be renamed Sun Healthcare Group, Inc. and will own all of Sun’s operating subsidiaries, while Sabra, through its subsidiaries, will own substantially all of Sun’s currently owned real property assets. 

Sun expects to make the Distribution on Nov. 15, 2010 to its stockholders of record at the close of business on Nov. 5, 2010. At the same time as it makes the Distribution, Sun also intends to make a cash distribution to the same stockholders of record. The amount of the cash distribution is currently expected to equal approximately $0.17 per share (for an aggregate cash distribution to Sun’s stockholders of approximately $13 million), although the actual amount of the cash distribution will not be determined until the time the Distribution is declared by Sun’s board of directors. The merger of Sun with and into Sabra (the “REIT Conversion Merger”) is expected to be completed on Nov. 15, 2010, following the Distribution.

The actual record and distribution dates for the Distribution and cash distribution, and the actual amount of the cash distribution, are subject to approval and declaration by Sun’s board of directors, which is currently expected to occur on Nov. 4, 2010, subject to the satisfaction of certain conditions, including approval of the Distribution and REIT Conversion Merger by Sun’s stockholders at a special meeting of stockholders to be held on Nov. 4, 2010.

Commenting on the restructuring plan, Richard K. Matros, Sun’s chairman and chief executive officer, remarked, “The management teams of both Sabra and New Sun look forward to the completion of the transactions and the opportunity to enhance stockholder value through the growth of both companies.”

In connection with the Distribution, each Sun stockholder will receive one share of New Sun common stock for every three shares of Sun common stock held at the close of business on the record date for the Distribution. In addition, in connection with the REIT Conversion Merger, each Sun stockholder will receive one share of Sabra common stock in exchange for every three shares of Sun common stock held at the effective time of the REIT Conversion Merger. Sun stockholders will receive cash in lieu of any fractional shares of New Sun common stock and Sabra common stock to which such stockholders would otherwise have been entitled.

Shares of Sun common stock will continue to trade “regular way” on the NASDAQ Global Select Market under the symbol “SUNH” through the distribution date for the Distribution. Any holders of Sun common stock who sell their Sun shares regular way on or before the distribution date will also be selling their right to receive shares of New Sun common stock in connection with the Distribution and the additional cash distribution. Holders of Sun common stock also will not be entitled to receive shares of Sabra common stock in connection with the REIT Conversion Merger if they do not own Sun common stock at the effective time of the merger. Shares of Sun common stock will cease trading on the NASDAQ Global Select Market at the close of business on the date of the Distribution and REIT Conversion Merger. Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling Sun common stock prior to this time.

New Sun common stock is expected to begin trading on a “when-issued” basis on the NASDAQ Global Select Market under the symbol “SUNHV” beginning on Nov. 8, 2010, the first business day after the record date for the Distribution. When-issued trading of New Sun common stock is expected to end and “regular-way” trading under the symbol “SUNHD” is expected to begin on Nov. 16, 2010, the first business day after the distribution date for the Distribution. Trading of New Sun common stock under the symbol “SUNHD” is expected to continue for approximately 20 trading days following the date of the Distribution. After this time, New Sun common stock will trade on the NASDAQ Global Select Market under the symbol “SUNH.”

Sabra common stock also is expected to begin trading on a “when-issued” basis on the NASDAQ Global Select Market under the symbol “SBRAV” beginning on Nov. 8, 2010. When-issued trading of Sabra common stock is expected to end and “regular-way” trading under the symbol “SBRA” is expected to begin on Nov. 16, 2010, the first business day after the REIT Conversion Merger. 

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 Oct. 1, 2010, SunBridge centers had 23,189 licensed beds located in 25 states, of which 22,407 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 Sun with the Securities and Exchange Commission (“SEC”) and include Sun’s ability to complete the Distribution and REIT Conversion Merger on terms and conditions satisfactory to Sun or at all, as well as other risks and uncertainties, including those detailed from time to time in Sun’s SEC Commission filings. More information on factors that could affect the business and financial results are included in Sun’s public filings made with the SEC, 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 Sun’s control. Investors are cautioned that any forward-looking statements made by Sun are not guarantees of future performance. Sun disclaims 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.

Additional Information

In connection with the transactions described in this release, 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 prospectus and proxy statement for the special meeting. The definitive proxy statement/prospectus was mailed to Sun stockholders on Oct. 4, 2010. Before making any voting or investment decision, Sun stockholders and investors are urged to read the proxy statement/prospectus 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. Investors and stockholders may also obtain a copy of these documents by requesting them in writing from Sun’s proxy solicitation agent, Innisfree M&A, at 501 Madison Avenue, New York, NY 10022, or by telephone at
(212) 750-5833.

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 definitive proxy statement/prospectus for the special meeting.

Contact:
Investor Inquiries
(505) 468-2341

Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business

Gemino Healthcare Finance Receives Rating Upgrade; Extends Credit Facility

Posted on October 26, 2010 Written by Editor

SOURCE: Gemino Healthcare Finance

PHILADELPHIA, PA–(Marketwire – October 26, 2010) –  Gemino Healthcare Finance (“Gemino”) today announced it has received a rating upgrade from rating agency DBRS to A from BBB. The rating change was based upon the historical performance of the loan portfolio, underlying collateral pools and the structural integrity of the transactions.

Mike Gervais, Chief Executive Officer of Gemino, said, “Obtaining the upgrade to A was another milestone for Gemino. It validates the quality of our clients, credit team, and overall business. We have funded over 40 deals since we launched Gemino in 2007 and are very focused on continuing to expand our business.”

Gemino Extends WestLB Credit Facility
Gemino also announced that it has received a two year extension on its credit facility with WestLB.

“We are excited about extending our facility with WestLB and having them continue to support the growth of our business. They have been a valuable partner the last three years through a difficult lending environment,” said Stacy Allen, Vice President of Operations and Treasurer for Gemino.

Matt Tallo, Executive Director for WestLB, said, “WestLB is happy to continue to support Gemino. We have an extensive history with the team and look forward to working with them as they grow their business.”

About Gemino Healthcare Finance (www.gemino.com)
Gemino, a privately held commercial finance company, provides senior loans to healthcare service providers throughout the U.S., with typical financing needs ranging from $2 million and up in the form of revolving lines of credit and term loans.

Based in Philadelphia, with offices in Atlanta, Dallas and Los Angeles, Gemino provides loans to growing healthcare companies for working capital, recapitalizations, acquisitions and other general corporate purposes.

About WestLB Structured Finance
WestLB develops sophisticated structured solutions through a team of highly experienced investment banking professionals. WestLB has a long-standing presence in the corporate, structured and project financing sectors supporting clients’ needs with capital commitments, advisory services and innovative financing solutions. The bank’s global relationships, coupled with its unique understanding of local economies, industries and cultures, help WestLB bankers consistently deliver high quality advice and service. For more information, please visit www.westlb.com.

About WestLB
WestLB AG is one of Germany´s leading financial services providers and offers the full range of products and services of a universal bank, focusing on lending, corporate and structured finance, capital market and private equity products and transaction services. WestLB has total assets of EUR 251.2 billion, as of June 30, 2010. For more information, please visit www.westlb.com.

In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB’s wholly owned subsidiary WestLB Securities Inc., a registered broker-dealer and member of the NASD and SIPC.

CONTACT:
Joni Miller
770-321-4033
Email Contact

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Filed Under: Healthcare Business

Sirona to Report 2010 Fourth Quarter and Full Year Financial Results on November 18th

Posted on October 25, 2010 Written by Editor

SOURCE: Sirona Dental Systems Inc.

LONG ISLAND CITY, NY–(Marketwire – October 25, 2010) – Sirona (NASDAQ: SIRO), the dental technology leader, today announced that the Company will report its fiscal 2010 fourth quarter and full year financial results on Thursday, November 18, 2010, at 6:30 AM E.T. Sirona’s management team will host an investor conference call at 8:30 AM that morning. A presentation relating to the call will be available at http://ir.sirona.com

To access the call, domestic participants may dial 866 730 5771 at least 10 minutes before the call is scheduled to begin. International participants may dial 857 350 1595. Participants will be required to provide the Conference ID number 67107595.

A live webcast of the presentation will be available at http://ir.sirona.com. The webcast will be archived for a period of twelve months.

About Sirona Dental Systems, Inc.

Sirona, the dental technology leader, has served dealers and dentists worldwide for more than 130 years. Sirona develops, manufactures, and markets a complete line of dental products, including CAD/CAM restoration systems (CEREC), digital intra-oral, panoramic and 3D imaging systems, dental treatment centers and handpieces. Visit http://www.sirona.com for more information about Sirona and its products.

Contact information:
John Sweeney, CFA
Sirona Dental Systems, Inc.
Vice President, Investor Relations
+1 718 482 2184
[email protected]

Filed Under: Healthcare Business

High Interest From VC Forums in Atlanta Catheter Therapies

Posted on October 25, 2010 Written by Editor

SOURCE: Atlanta Catheter Therapies

Company Selected to Present at SEBIO and Tennessee Valley Venture Forum

ATLANTA, GA–(Marketwire – October 25, 2010) –  Medical device company Atlanta Catheter Therapies, Inc. (ACT) is generating high interest in its innovative intravascular catheterization which integrates drug delivery. The company has been selected to present at the upcoming 14th Annual Tennessee Valley Venture Forum (TVVF) as well as the Southeast BIO (SEBIO) Investor Forum.

The TVVF will be held October 27 at the Crowne Plaza in Knoxville, Tennessee. Southeast BIO (SEBIO) Investor Forum being held November 3-4, 2010 at the Ritz-Carlton Buckhead in Atlanta, Georgia.

ACT is focused on developing innovative catheter technologies for the treatment of vascular disease and restenosis. ACT’s lead product, an innovative catheter that integrates drug delivery with vascular catheterization, has completed the prototyping phase.

The Occlusion Perfusion Catheter™ (OPC) allows endovascular specialists who have already cleared blocked blood vessels to then immediately circumferentially infuse the media with an agent or live cell to reduce or eliminate restenosis (re-blockage). The OPC follows the same guide wire used by the debulking catheter to deliver anti-restenosis agents or drugs and other therapies directly and precisely to the treatment site.

In addition to the OPC, the company is attacking the problem of vascular disease by developing leading edge technology for atherectomy, thrombectomy and other catheter-based devices. ACT currently has seven devices in its product development pipeline, including the OPC.

Southeast BIO (SEBIO) is a regional nonprofit organization dedicated to fostering the growth of the Southeast’s life sciences industry. Presenting companies, which represent the best life science deals in the Southeast, are determined by a Selection Committee comprised of regional and national venture capitalists. Since 1999, companies that have participated in the SEBIO Investor Forum have raised over $2.5 billion in public and private offerings, making it the region’s most successful venue for linking industry investors with the Southeast’s top life sciences companies.

About Atlanta Catheter Therapies
Atlanta Catheter Therapies is an early stage research and development medical device company with an innovative and targeted portfolio of catheter technologies for the treatment of vascular disease and restenosis. Learn more at www.atlcath.com.

Media Contact:
Lynn Hood
Email Contact
678-427-5040

Company Contact:
Paul Fitzpatrick
Email Contact
770-321-8439

Click here to see all recent news from this company

Filed Under: Healthcare Business

Improving the Patient Experience in Revenue Cycle Management — A Varolii Webinar

Posted on October 25, 2010 Written by Editor

SOURCE: Varolii

SEATTLE, WA–(Marketwire – October 25, 2010) – Is there customer service in healthcare? When it comes to the billing process, many would say ‘no.’ As more patients deal with the burden of bill payments, healthcare providers are being challenged with maintaining patient relationships through improved communication, while increasing revenue during a sometimes difficult billing process. Most healthcare institutions regularly deal with a handful of insurance companies, but as a greater portion of financial responsibility for medical services moves toward patients, few are well-equipped to manage the payment process for literally thousands of individual consumers.

In this complimentary Webinar, Gregory VandenBosch, president at MedDirect, and Dr. George Gellert, MD, on behalf of Varolii Corporation, will share how the right conversation can inform patients about their healthcare expenses and increase payments more easily. They will also explain how effective revenue cycle management, helps healthcare organizations be more patient-centric and cost-effective at the same time. The session will also share real-world examples of how MedDirect and Varolii are revolutionizing the way providers and patients communicate.

WHEN: Wednesday, Oct. 27, 2:00 – 2:30 p.m. ET / 11:00 – 11:30 a.m. PT

WHAT: A complimentary Webinar highlighting how MedDirect helps patients manage their health expenses to resolve more accounts and improve patient satisfaction. The Webinar will help attendees discover:

  • Why patients are reluctant to pay (it’s not what you think)  
  • How healthcare providers can improve account resolution and improve patient satisfaction simultaneously
  • Why the key findings from FierceHealthcare’s “Revenue Cycle Management 2010 Survey” matter

WHO: Gregory VandenBosch, president at MedDirect, helps leading healthcare providers increase patient-pay revenue and offload the retail revenue cycle process. Prior to co-founding MedDirect in 2000, VandenBosch worked in the banking industry and later joined ES Financial, Inc. He is a graduate of Hope College with a degree in Economics.

WHO: Dr. George Gellert, MD, is a physician epidemiologist and executive with 20 years of experience in health information and communication. Dr. Gellert is the former Chief Medical Officer and EVP for HCORP Inc. and Senior VP of Strategic Alliances at WebMD.

REGISTER: https://www.varolii.com/go/2010/rcmwebinar

Media Contact:
Robin Rees
Varolii Corporation
206.902.3944
Email Contact

Jessica Kendall
Edelman PR for Varolii
206.268.2231
Email Contact

Filed Under: Healthcare Business, Hospitals and Health Systems

Industry Leader in Healthcare Revenue Cycle Management Processes 750 Millionth Healthcare Transaction — Adds to Executive Management Team

Posted on October 24, 2010 Written by Editor

SOURCE: ZirMed

Vice Presidents of Marketing and Sales Added to Continue Company’s Substantial Year-Over-Year Growth

LOUISVILLE, KY–(Marketwire – October 24, 2010) –  ZirMed®, a leading national provider of revenue cycle management solutions, today announced several significant company milestones.

This month, ZirMed processed its 750 millionth healthcare transaction. The company currently processes over 20 million monthly transactions that include patient payments, claims, remittances and eligibility verifications.

“We now process as many transactions in a month as we did in all of 2004,” said Jerry Merritt, president and chief executive officer of ZirMed Inc. “Our substantial organic growth is self-funded, not inflated by acquisitions. We have achieved growth through our partner relationships and integration of our solution into practice management and EMR systems.”

Over the last five years, ZirMed’s revenue has grown at a Compound Annual Growth Rate (CAGR) of 39%.

To help manage and accelerate ZirMed’s growth, the company recently added two new senior executives.

Kevin Weinstein joins ZirMed as Vice President of Marketing and will oversee industry relations, messaging and new opportunity generation as well as managing the company’s brand. He was previously Vice President of Marketing and Sales Operations at Allscripts. Mr. Weinstein also worked as a management consultant with Oliver Wyman and earlier oversaw the investment process for an early stage venture capital fund. Mr. Weinstein earned a Master of Business Administration from Northwestern University’s Kellogg School of Management and a Bachelor of Arts in English from Colgate University.

Kraig Brown joins ZirMed as the Vice President of Sales and will lead sales execution for the company. Mr. Brown comes to the company from PGi, a web, video conferencing and document delivery company, where he was Senior Vice President of Sales. While at PGi, Mr. Brown oversaw inside and web based sales, building significant industry partner relationships with companies such as Cisco Webex, Adobe, and Microsoft. Prior to joining PGi, Mr. Brown was Senior Vice President of Sales at Xpediate Consulting, a high-growth private company focused on healthcare compliance. Kraig Brown received his Bachelor of Science in Education at the University of Georgia and his Master of Arts at David Lipscomb University.

Showcasing at MGMA Annual Conference:

ZirMed will be showcasing its solutions October 24-27 at the MGMA Annual Conference, at the Ernest N. Morial Convention Center in New Orleans. ZirMed will be demonstrating its revenue cycle management solutions in Exhibit Booth #838. For more information about ZirMed, visit the company’s MGMA exhibit or visit www.zirmed.com.

About ZirMed:
ZirMed is a nationally recognized leader in delivering revenue cycle management solutions to healthcare providers. ZirMed enables healthcare providers to leverage the power of technology to cure administrative burdens and increase cash flow. ZirMed solutions include eligibility verification, credit/debit card processing, check processing, claims management, coding compliancy and reimbursement management, electronic remittance advice, patient statements, patient e-commerce solutions, provider credentialing, and lock box services. ZirMed solutions are designed to complement provider workflow and to provide innovative, creative and flexible solutions for healthcare’s most pressing administrative challenges. For more information about ZirMed, visit www.zirmed.com.

PRESS CONTACT:
Hanni Itah
S&S Public Relations
847.415.9316
Email Contact

ZIRMED CONTACT:
Kevin Weinstein
Vice President of Marketing
ZirMed
502.657.5587
Email Contact

Filed Under: Healthcare Business, Senior Care

Vangent Wins $15.6 Million Contract With Office of the National Coordinator for Health Information Technology

Posted on October 21, 2010 Written by Editor

SOURCE: Vangent

Ensures Continued Support of the Federal Health Architecture (FHA) Program Management Office (PMO); FHA’s CONNECT Solution Also Named a Wall Street Journal “Technology Innovator”

ARLINGTON, VA–(Marketwire – October 21, 2010) –  Vangent, Inc., a leading global provider of information management and strategic business process solutions, announced today it was awarded a $15.6 million contract by the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption of health information technology, improve methods of health information exchange (HIE) and provide subject matter expertise as program manager for the Federal Health Architecture (FHA) and CONNECT initiative.

Under the contract, Vangent will provide ONC with program management and health IT management consulting capabilities and run the FHA and CONNECT Program Management Office (PMO). This contract award also calls for Vangent’s health IT subject matter experts to work directly with federal healthcare agencies such as the Department of Health and Human Services (HHS) and the Department of Veterans Affairs (VA) to increase adoption of the CONNECT solution.

“Vangent is pleased to continue advancing the adoption of CONNECT and other FHA initiatives and to work with the federal government to ensure that all citizens have electronic health records by 2014,” said Mac Curtis, President and CEO, Vangent. “By providing technical solutions like Health Information Exchange Open Source (HIEOS™) that serve as part of the CONNECT solution stack, in addition to consulting and program management services to the FHA PMO, Vangent helps ONC work towards its goal of improved quality of care and increased program efficiency.”

Vangent serves as program manager for the National Health Information Network CONNECT Gateway solution, which was named one of the most innovative technologies of the year by The Wall Street Journal.  The CONNECT software, of which Vangent’s HIEOS™ solution is a part, is an open source software solution that uses standards and governance to ensure that HIEs are compatible with one another, both locally and at the national level. Vangent’s HIEOS™ solution was selected by the Office of the National Coordinator (ONC) as the default XDS.b registry (record locator services) and repository (record storage services) implementation in the CONNECT Gateway in October 2009.

Under the new contact, Vangent will also support FHA integration with the National Health Information Network Standards and Interoperability (S&I) Framework and federal involvement with the National Health Information Network DIRECT project. The Vangent Team will also manage FHA and CONNECT operational performance and financial tasks. The Vangent team of partners (Iris Partners, SAIC, and Spire Communications) has already built a solid foundation of success from its previous work with the FHA and CONNECT, serving as manager of the FHA Program Management Office since its inception in 2004 and and program manager for the CONNECT initiative since its inception in 2006.

The maximum duration of the contract with FHA is five years, and if all options are exercised, the value of the contract is $15.6 million.

“Vangent’s work with the Office of the National Coordinator for Health Information Technology has enriched our team’s experience in the health IT industry,” said Kerry Weems, Senior Vice President and General Manager of Vangent’s Health Solutions business. “Technology is quickly changing the way healthcare organizations exchange critical data, and Vangent is honored to be a part of these exciting initiatives.”

About Vangent, Inc.
Vangent, Inc. is a global provider of consulting, systems integration, human capital management, and business process services to the U.S. federal and international governments, higher education institutions, and corporations. Vangent’s 8,000 employees support clients including the Centers for Medicare & Medicaid Services, the U.S. Departments of Defense, Education, Health and Human Services, Labor and Veterans Affairs; and the U.S. Office of Personnel Management, as well as Fortune 500 companies. Headquartered in Arlington, Virginia, the company has offices throughout the U.S. and in the U.K. and Canada. For more information, visit www.vangent.com.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are those that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. Words such as, but not limited to, “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “targets,” “projects,” “likely,” “will,” “would,” “could” and similar expressions or phrases identify forward-looking statements. All forward-looking statements involve risks and uncertainties. The occurrence of the events described, and the achievement of the expected results, depend on many events, some or all of which are not predictable or within our control. In light of these risks and uncertainties, expected results or other anticipated events or circumstances discussed in this press release might not occur. We undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Eileen Cassidy Rivera
Vangent, Inc.
(703) 284-5674
Email Contact

Filed Under: Health Technology and AI, Healthcare Business

HearUSA Reports Expanded Managed Care Contracts for 2011

Posted on October 20, 2010 Written by Editor

SOURCE: HearUSA

Expected to Increase Revenues by $3 Million in 2011

WEST PALM BEACH, FL–(Marketwire – October 20, 2010) –  HearUSA, Inc. (NYSE Amex: EAR), the recognized leader in hearing care for the nation’s top managed care providers, reported that several of its contracted health partners have expanded or reinstated hearing benefits for their members, effective January 1, 2011.

Several plans have enhanced their Medicare offerings for 2011, including Preferred Care Partners (Florida), BCBS Horizon Medicare Blue (New Jersey) and BCBS Medicare Blue HMO (Florida). In addition, Humana Inc. (NYSE: HUM), one of the nation’s largest health benefits companies, has reinstated hearing benefits in its 2011 senior HMO product in Florida.

The new agreements will provide hearing aid benefits to an additional 400,000 members who are located in HearUSA’s major markets, including Florida and New Jersey. These new agreements are expected to increase revenues by approximately $3 million in 2011 and will bring the total number of enrollees covered by HearUSA’s exclusive capitated and fee for service contracts to 2 million. The new and expanded managed care contracts are capitated contracts.

HearUSA has contracts with more than 400 payors in the health plan market, including agreements with the nation’s top five largest insurance companies and eight of the top 10. HearUSA also has national partnerships with several major health plans, including Kaiser Foundation Health Plan, Humana Health Plans, and WellCare Health Plans, and has expanded its service agreements to keep pace with the growing managed care Medicare market. The company is also a hearing care provider for the Veterans Administration, providing hearing services to thousands of qualified veterans.

“Partnering with health plans that seek quality care and value for their membership continues to be a key strategy for HearUSA,” said Stephen J. Hansbrough, HearUSA’s president and CEO. “We have added several new plans for 2011 that will be serviced by our Hearing Care Network, as well as key accounts in our company owned territories. This represents an important segment of our business in an area where HearUSA is generally regarded as the industry leader. We estimate that these enhancements for 2011 will result in a $3 million increase in revenues from the increased directed business and related capitation payments.”

Independent studies, like those from the National Council on Aging, have demonstrated the negative impact of untreated hearing loss on quality of life and independence — factors very important to seniors and their families. Despite concerns over reimbursement levels related to national healthcare reform, many plans are continuing to offer important ancillary coverage, including hearing. Full or partial hearing aid coverage helps to defray out of pocket costs and is an important benefit for the Medicare population.

According to Dr. Cindy Beyer, audiologist and senior vice president of professional services at HearUSA: “These plans recognize the important role that hearing plays in our overall health and well-being. By making hearing aids more affordable, plans enable their members to benefit from today’s advanced digital technology.”

The Better Hearing Institute reports about 10% of Americans, or more than 36 million people, have some degree of hearing loss. Fifteen percent of adult baby boomers (age 45-64) and almost one third of those over age 65 have hearing loss. Increased exposure to noise is cited as a primary cause of hearing loss, which is most often found in males (60%) compared to females.

HearUSA is uniquely qualified to partner with managed care organizations because of its company-owned centers’ accreditation by URAC, a leader in promoting health care quality through its accreditation, education and measurement programs (www.urac.org). URAC offers a wide range of quality benchmarking programs and services that keep pace with the rapid changes in the health care system, and provide a symbol of excellence for organizations to validate their commitment to quality and accountability. By contracting with an accredited and qualified hearing care provider network, the health plan ensures that their membership receives quality care, consistent delivery of services and products, and added value features, including discounted rates.

About HearUSA
HearUSA (NYSE Amex: EAR) is the recognized leader in hearing care for the nation’s top managed care organizations through its network of more than 2,000 hearing care providers and 176 company-owned centers. HearUSA is the nation’s only hearing care network accredited by URAC, an independent, nonprofit health care accrediting organization dedicated to promoting health care quality through accreditation, certification and commendation. HearUSA is also the administrator of the AARP Hearing Care Program, designed to help millions of Americans aged 50+ who have untreated hearing loss.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995 including those relating to the company’s expectations that the new agreements will increase revenues by approximately $3 million in 2011 and will bring the total number of enrollees covered by HearUSA’s exclusive capitated and fee for service contracts to 2 million. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include effective marketing to the expanded covered members, changes in the pricing environment; general economic conditions in those geographic regions where the members are located; consumer confidence in the general economy; the impact of competitive products; and other risks and uncertainties described in the company’s filings with the Securities and Exchange Commission, including the company’s Form 10-K for the fiscal year ended December 26, 2009 and Form 10-Q for the quarter ended June 26, 2010.

Company Contact:
Paige Brough
Senior Vice President
Email Contact
Tel 561-478-8770 (Ext. 134)

Investor Relations
Scott Liolios or Ron Both
Liolios Group, Inc.
Email Contact
Tel 949-574-3860

Filed Under: Healthcare Business, Medicare

DiaMedica Announces Appointment of Vice President of Finance

Posted on October 20, 2010 Written by Editor

WINNIPEG, MANITOBA–(Marketwire – Oct. 20, 2010) – DiaMedica (TSX VENTURE:DMA) today announces the appointment of James Parsons, CA as Vice President of Finance. Mr. Parsons will be assuming the role previously held by Mr. Eric Johnstone. Mr. Parsons has an extensive background in the life sciences industry and over 20 years of finance management experience. He was previously the Chief Financial Officer for both private and public life science companies including Amorfix Life Sciences, Trillium Therapeutics and Lorus Therapeutics. He has also consulted for numerous firms including Astra Zeneca.

“The board of directors of DiaMedica welcomes Mr. Parsons to the DiaMedica team”, stated Rick Pauls, President and CEO of DiaMedica. “James brings to DiaMedica a wealth of expertise through his numerous years of experience as CFO with public and private biotech companies where his responsibilities included the negotiation of product licenses and strong links with the investment community. We would also like to express our gratitude to Mr. Eric Johnstone for his contributions.” continued Mr. Pauls. 

DiaMedica today issued 40,000 stock options that are exercisable at a price of $0.44 for 5 years and are subject to acceptance by the TSX Venture exchange.

Please also note DiaMedica’s new office address below.

About DiaMedica

DiaMedica is a biopharmaceutical company focused on developing novel treatments for type 1 diabetes, type 2 diabetes and other disorders. DiaMedica has completed two successful proof-of-concept Phase II studies with DM-71 and DM-99, which demonstrated human efficacy in lowering blood glucose levels in patients with type 2 diabetes.

DiaMedica’s lead product DM-199 is a novel recombinant next generation form of DM-99, which has shown the potential to increase insulin sensitivity, reduce the autoimmune attack and trigger proliferation of pancreatic beta cells, neural stem cells and bone marrow cells. DiaMedica is listed on the TSX Venture Exchange under the trading symbol “DMA”. For further information please visit www.diamedica.com.

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, the “forward-looking statements“). These forward-looking statements relate to, among other things, DiaMedica’s objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, and can, in some cases, be identified by the use of words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “will,” “may” and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Specifically, this press release contains forward-looking statements regarding matters such as, but not limited to, the anticipated use of proceeds from the Offering, management’s assessment of DiaMedica’s future plans, information with respect to the advancement of DiaMedica’s research and development programs, and DiaMedica’s other estimates and expectations. These statements reflect management’s current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: uncertainties and risks related to our research and development programs, the availability of additional financing, risks and uncertainties relating to the anticipated use of proceeds, changes in debt and equity markets, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, the cost and supply of raw materials, management of growth, effects of insurers’ willingness to pay for products, risks related to regulatory matters and risks related to intellectual property matters. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release, as well as under the heading “Risk Factors” contained in DiaMedica’s 2009 annual information form. DiaMedica cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on DiaMedica’s forward-looking statements to make decisions with respect to DiaMedica, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Such forward-looking statements are based on a number of estimates and assumptions, which may prove to be incorrect, including, but not limited to, assumptions regarding the availability of additional financing for research and development companies, and general business and economic conditions. These risks and uncertainties should be considered carefully and investors and others should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, DiaMedica cannot provide assurance that actual results will be consistent with these forward-looking statements. DiaMedica undertakes no obligation to update or revise any forward-looking statement. 

Filed Under: Healthcare Business

TomoTherapy Reschedules Announcement of Third Quarter Financial Results to Wednesday, October 27, 2010

Posted on October 19, 2010 Written by Editor

SOURCE: TomoTherapy

Reschedule Is Due to Other Industry Earnings Conference Calls

MADISON, WI–(Marketwire – October 19, 2010) –  TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for cancer care, announced today that its 2010 third quarter earnings conference call, originally scheduled for Thursday, October 28, 2010 at 4:00 p.m. CDT, has been rescheduled for one day earlier, to Wednesday, October 27, 2010 at 4:00 p.m. CDT. The call has been rescheduled to avoid conflicts with other industry earnings calls. TomoTherapy will release its 2010 third quarter results on October 27, 2010 at 3:00 p.m. CDT.

During the investment community conference call, Fred Robertson, M.D., CEO, and Thomas Powell, CFO, will review third quarter performance and discuss the company’s strategies. To join the conference call, dial 1-800-638-4817 (international 1-617-614-3943) and enter passcode 19539609. A replay of the conference call will be available one hour after the call ends through 10:59 p.m. CDT on November 3, 2010. To access the replay, dial 1-888-286-8010 (international 1-617-801-6888) and enter passcode 40905886.

For individual investors, a live Webcast of the conference call will be available on the Investor Relations page of TomoTherapy.com. Institutional investors can access the Webcast through a password-protected site www.streetevents.com. An archived Webcast of TomoTherapy’s conference call will be available for two weeks.

About TomoTherapy Incorporated 
TomoTherapy Incorporated develops, markets and sells advanced radiation therapy solutions that can be used to 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 include 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.

©2010 TomoTherapy Incorporated. All rights reserved. TomoTherapy, Tomo, TomoDirect, TQA, the TomoTherapy logo and Hi·Art are among trademarks, service marks or registered trademarks of TomoTherapy Incorporated in the United States and other countries.

Investor Contact:
Thomas E. Powell
Chief Financial Officer
608.824.2800
Email Contact

Media Contact:
Kevin O’Malley
Manager, Corporate Communications
608.824.3384
Email Contact

Filed Under: Healthcare Business

Companies, Workers Can’t Control Soaring Healthcare Costs Without Prevention, Says Virgin HealthMiles CEO at 2010 Integrated Care Summit

Posted on October 19, 2010 Written by Editor

SOURCE: Virgin HealthMiles

BOSTON, MA and WASHINGTON, DC–(Marketwire – October 19, 2010) –  Large companies forced to scale back healthcare coverage. Employees left stranded, picking up the difference. The stakes for American business are at an all-time high. Unmanaged, preventable healthcare costs are one of the largest drains on corporate income statements. But, employers have the power to turn the tables. They play a vital role in encouraging healthy behaviors amongst their workforce and must create a workplace culture of prevention to avoid a profitability crisis of epic proportions. 

That’s the message delivered to major employers by Chris Boyce, CEO of Virgin HealthMiles at the 2010 Integrated Care Summit in Washington, DC on October 15. Virgin HealthMiles is a leading provider of employee health and productivity programs that pay people to get active. More about Boyce’s and other experts’ perspectives on creating a workplace culture of prevention and insights on employee health trends can be found on Virgin HealthMiles’ new blog, www.theuprisingblog.com.

More than 75 percent of today’s healthcare costs stem from preventable, chronic diseases that are largely driven by our own personal health behaviors. And while companies pay for employee healthcare coverage at amounts rising more than 10 percent each year, said Boyce, they’re also absorbing 70-80 percent of these cost increases. At the same time, employees are incurring higher out-of-pocket costs and larger shares of their premiums. The Kaiser Family Foundation found the average family coverage premium increased 131 percent from 1999-2009, while worker contributions increased 128 percent.

Employers can no longer shoulder this burden alone. With the US median wage at about $43,000 per year, employees can’t bear much more, either. The good news? Companies can take action and impact the prevalence of lifestyle-related diseases and their resulting medical and productivity costs by getting employees to make healthy behavior changes.

Boyce said many employers are proactively managing these costs by creating a workplace culture of prevention and getting employees to become more physically active. Yet, more employers could, and should do more. According to a recent PricewaterhouseCoopers survey, 94 percent of employers believe they could do a better job in supporting their employees’ health improvement efforts. What’s more, an April 2010 study by Virgin HealthMiles showed nearly 85 percent of the 1,926 employee respondents believe an employer has a responsibility to take a leadership role in encouraging and promoting wellness in the workplace.  

“Chronic diseases drain our nation’s health, our businesses, and our economy. It’s imperative we focus on prevention and keeping people healthy so we can avoid the rising demand for costly healthcare services,” said Boyce. “Focusing on prevention promotes personal responsibility and links lifestyle choices to good health. It also allows companies to ensure their interests are aligned with those of their employees so they can productively work together to drive down lifestyle-related healthcare costs.”

Savvy companies across the country are using innovative, technology-based employee wellness incentive programs to build this culture of prevention, reported Boyce. These programs go beyond traditional wellness programs by motivating entire employee populations to participate through meaningful and affordable incentives. The programs are measurable, and help both companies and workers quantifiably track progress and program impact. And they’re manageable, so organizations can integrate various, splintered wellness efforts and incentives structures while aligning incentives for actual performance. When employed, such strategies fuel long-term healthy behavior change and healthcare cost reductions for employees and companies alike.

About Virgin HealthMiles
Virgin HealthMiles provides employee health programs that pay people to get active. The company’s Pay-for-Prevention™ approach, based on physical activity and healthy lifestyle change, attracts an average of 40 percent of employees who participate, which helps organizations reduce medical costs and improve employee productivity and satisfaction. The program is offered by employers, government entities, and insurers. Over 120 industry leaders representing more than 500,000 employees across the U.S., including American Diabetes Association, Intuit, MWV, OhioHealth, Ochsner Health System, Protective Life, SunGard, SunTrust, and Timberland have selected Virgin HealthMiles’ award-winning program for their employees. The company is a member of Sir Richard Branson’s Virgin Group. For more information, visit www.virginhealthmiles.com

Media Contact:
Daisy Wall
Email Contact
404-695-0195

Click here to see all recent news from this company

Filed Under: Health Insurance Coverage, Healthcare Business

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