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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.

Healthcare IT Solutions Exchange (HITSE) Announces Speakers and Session Updates for Upcoming HITSE New England Conference

Posted on October 19, 2010 Written by Editor

SOURCE: Interbit Data

Conference Benefiting Hospital Information Systems Users Takes Place October 26 and 27 in Westborough, MA

NATICK, MA–(Marketwire – October 19, 2010) –  The Healthcare IT Solutions Exchange (HITSE) announces its slate of speakers and updates on tracks to be featured at its healthcare IT conference, HITSE New England 2010, to be held October 26 and 27 at the Doubletree Hotel, Westborough, MA. This is the first in a series of conferences to provide healthcare IT professionals with continuing education, purchase planning assistance and peer networking around issues facing hospitals and healthcare systems. 

HITSE New England‘s speakers include healthcare industry experts and CIOs, who will discuss topics related to the four conference tracks:

  • Computerized Physician Order Entry (CPOE);
  • Meaningful Use;
  • Migrating to MEDITECH 6.0; and
  • Revenue Cycle Management. 

Each track includes two speaker presentations, one panel discussion and an interactive session with vendors responding to issues raised by the speakers and attendees. Issues such as interoperability, business continuance and workforce scheduling will be addressed and case studies, product demonstrations and participation in user group discussions will be offered.

Key presentations are scheduled featuring the following speakers:

  • Ray Campbell, Executive Director and CEO, Massachusetts Health Data Consortium, provides information and updates on Meaningful Use; 
  • Dr. Cupid Gascon, Medical Director of Emergency Services at Oswego Hospital, discusses CPOE: A Physician’s Perspective;
  • Bill O’Toole, Founder of O’Toole Law Group, provides valuable insight on Contract Considerations for MEDITECH 6.0;
  • Ron Kilmer, Patient Services Manager at Nathan Littauer Hospital, presents The Evolving Role of Case Management in the Revenue Cycle; and
  • Chuck Duncan, CEO of Healthcare Revenue Strategies, shares his experience in Effective Revenue Cycle Management.

“By organizing the HITSE New England conference, we are trying to leverage the benefit of peer-to-peer interaction, particularly to the delivery of healthcare,” states Arthur Young, president of Interbit Data and one of the founding HITSE members. “Healthcare IT professionals will have the opportunity to share experiences and exchange information and best practices, as well as collaborate with vendors on implementing solutions.”

All members of the healthcare IT community can participate and benefit from HITSE, including CIOs, IT managers, IT department managers, IT staff and consultants, as well as IT vendors. Vendor exhibition and sponsor opportunities have already sold out for this conference, however vendors are welcome to register as conference attendees.

More information on HITSE New England conference registration can be found at http://www.hitse.org.

About Interbit Data
Founded in 1997 and named to the 2009 and 2010 Inc. 5000 list of America’s fastest growing companies, Interbit Data helps healthcare organizations deliver better, more consistent patient care with secure, reliable and cost-effective software solutions that improve operational efficiency. The company’s information distribution products deliver information securely over the Internet in multiple formats, such as fax, print, email, encrypted file or HL7 message format, and integrate it easily into physicians’ practice EMRs. Interbit Data’s business continuance products give healthcare providers continuous access to patient data in the event of a network or system outage. Interbit Data products are used by more than 650 MEDITECH® customers worldwide. For more information about Interbit Data and its NetSolutions products, visit the company Website at www.interbitdata.com.

Contact:
Beth Bryant
508-786-3013
Email Contact

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Filed Under: Healthcare Business, Hospitals and Health Systems

Extendicare REIT Announces Third Quarter 2010 News Release and Conference Call Information

Posted on October 19, 2010 Written by Editor

MARKHAM, ONTARIO–(Marketwire – Oct. 19, 2010) – Extendicare Real Estate Investment Trust (“Extendicare REIT” or “Extendicare”) (TSX:EXE.UN) today announced it will hold a conference call and live audio webcast on Friday, November 5, 2010 at 10:00 a.m. (ET) to discuss financial results for the third quarter ended September 30, 2010.

Following the issuance of the news release on November 4, 2010, Extendicare will post a copy, along with an update of the supplemental information package, on its website www.extendicare.com under the investors/financial reports section.

The call will be hosted by Tim Lukenda, President and Chief Executive Officer; Doug Harris, Senior Vice President and Chief Financial Officer, and Paul Tuttle, President of Canadian Operations. Following management’s presentation, there will be a question and answer session for analysts and institutional investors.

To participate in the November 5, 2010, conference call, please dial 1-866-696-5910 or 416-340-2217 followed by the passcode 8528242#. The conference call will also be accessible via webcast at www.extendicare.com under the investors/presentations & webcasts section. A replay of the call will be available approximately two hours after completion of the live call until midnight on November 19, 2010. To access the rebroadcast dial 1-800-408-3053 or 416-695-5800, followed by the passcode 1846353#.

About Us

Extendicare REIT is a leading North American provider of long-term and short-term senior care services through its network of owned and operated health care centers. We employ 37,800 qualified and experienced individuals dedicated to helping people live better through a commitment to quality service that includes post-acute care, rehabilitative therapies and home health care services. Our 263 senior care centers in North America have capacity for approximately 29,200 residents. Extendicare REIT is a specified investment flow-through trust (SIFT) that has been subject to the SIFT tax since January 1, 2007.

Filed Under: Healthcare Business, Senior Care

Callidus Software Announces New Onboarding Solution

Posted on October 19, 2010 Written by Editor

SOURCE: Callidus Software Inc.

Callidus Continues to Extend Sales Performance Management Leadership Through New Onboarding Offering for the Extended Enterprise

PLEASANTON, CA–(Marketwire – October 19, 2010) –  Callidus Software Inc. (NASDAQ: CALD), the leader in Sales Performance Management (SPM), today announced the launch of its new Onboarding solution for the extended enterprise. With the new solution, Callidus now enables businesses to target, communicate with, and onboard sales professionals and independent channel partners as part of a comprehensive sales talent lifecycle management solution. The Onboarding solution has already been successfully implemented at one of the nation’s largest providers of healthcare programs.

“The sales professional is the principal driver of top-line business performance and one of the most costly hires businesses make,” said Leslie Stretch, president and CEO, Callidus Software. “The Callidus Onboarding solution is an integral component of managing the sales talent lifecycle to optimize on business goal execution. Companies with large independent partner networks in particular require a solution to seamlessly onboard new producers and drive sales velocity. The new solution automates each step of agent and producer deployment, accelerating recruiting, licensing, contracting, and field communications to enable companies to eliminate the bottlenecks that can threaten critical sales capacity targets, and control the costs of doing business with large producer volumes. At the same time, through built-in background checking and accreditation processing and tracking, the solution manages the risk of new appointments for our customers, enabling them to focus on driving revenue and long-term sales growth.”

By integrating the new Onboarding solution with its SPM suite, Callidus extends its footprint to provide the most comprehensive offering of sales talent lifecycle management solutions in the market today. The new solution leverages Callidus’ Business Process Management platform, adds sales professional and channel partner marketing and targeting, communications, and onboarding support to the suite’s capabilities to deliver a comprehensive operations platform that includes recruiting, licensing and appointing, goal setting, pay for performance, and coaching and training.

Key features of the solution include:

  • Integrated agent marketing and communications for recruiting and capturing greater channel mindshare
  • Flexible workflow platform that can easily be customized to meet a wide range of onboarding process configuration requirements
  • Comprehensive electronic signature tracking
  • Real-time verification of sales and agent data for background checking and accreditation requirements, including seamless integration with third-party registries and services
  • Integrated with single repository for storing all agent demographics and contracts throughout onboarding and appointing
  • Support for self-service portal for all field information, forms, and reports
  • Full integration with the Callidus SPM suite for channel management, compensation management, and reporting and analytics

For more information on Callidus’ new Onboarding solution, click here.

“The needs of the selling network are fundamentally unique,” said Lorna Heynike, senior vice president, marketing at Callidus Software, commenting on the launch. “Sales lifecycle management, emerging from the discipline of sales performance management, is experiencing dramatic growth as more businesses make a strategic investment in their sales talent to drive top-line results. Callidus’ SPM suite makes it possible for businesses to significantly increase the likelihood for success in meeting top-line goals by driving goal execution throughout the sales force and channel network. Our new Onboarding solution strengthens our position as the leader in this very important market.”

Callidus Software’s award-winning solutions manage the entire sales lifecycle from onboarding, to incentives and rewards, to talent development, while providing visibility into sales operations and financial performance. This gives customers the ability to align their sales force and channels with their top business goals to consistently and reliably execute on target results. The software is used by leading companies in a broad range of verticals including high-tech, telecommunications, banking, insurance, and pharmaceuticals. Since its inception nearly 15 years ago, the company has evolved into the most experienced, proven, and reliable SPM vendor in the marketplace. Callidus Software manages over $50 billion in incentives and compensation for more than two million payees in over 140 countries.

About Callidus Software®
Callidus Software (NASDAQ: CALD) is the market and technology leader in Sales Performance Management (SPM). Callidus customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales effectiveness. Our award-winning Software-as-a-Service (SaaS) applications set the standard for performance management of a company’s sales force and channel partners. Over 2 million employees and channel partners have their performance managed by Callidus Software. For more information, please visit www.callidussoftware.com

©1997-2010 Callidus Software Inc. All rights reserved. Callidus Software, the Callidus Software logo, and TrueComp Manager are trademarks, service marks, or registered trademarks of Callidus Software Inc. in the United States and other countries. All other brand, service or product names are trademarks or registered trademarks of their respective companies or owners.

Press Contact:
Cheryl Hall
Callidus Software Inc.
925-251-2259
[email protected]

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Filed Under: Health Technology and AI, Healthcare Business

Vanguard Health Systems, Inc. Invites You to Join Its 2011 First Quarter Earnings Conference Call/Webcast

Posted on October 18, 2010 Written by Editor

SOURCE: Vanguard Health Systems

NASHVILLE, TN–(Marketwire – October 18, 2010) –  In conjunction with Vanguard Health Systems, Inc.’s 2011 First Quarter Earnings press release, you are invited to listen to its conference call that will be broadcast live over the Internet with senior management of Vanguard discussing the operating results.

WHAT:

Vanguard Health Systems, Inc.’s 2011 First Quarter Earnings Conference Call on the Web

WHEN: 

Tuesday, November 9, 2010 at 11:00 a.m. Eastern time

WHERE:

http://www.vanguardhealth.com or
http://www.visualwebcaster.com/event.asp?id=73288

HOW: 

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

Vanguard Health Systems, Inc. will release its 2011 first quarter operating results on Monday, November 8, 2010, after 4:00 p.m. Eastern time. The Company’s earnings press release will be posted under the “Latest News” link on the Investor Relations page of the Company’s web site www.vanguardhealth.com.

Vanguard Health Systems, Inc. owns and operates 18 acute care hospitals and complementary facilities and services in Chicago, Illinois; Phoenix, Arizona; San Antonio, Texas and Massachusetts.

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

Contact:
Vanguard Health Systems, Inc.
Gary Willis
Senior Vice President and Chief Accounting Officer
(615) 665-6098

Filed Under: Healthcare Business, Hospitals and Health Systems

Carl Zeiss Meditec Introduces New Innovations: ‘Creating What’s to Come’ at AAO 2010

Posted on October 16, 2010 Written by Editor

SOURCE: Carl Zeiss Meditec

Featured Products Include the FORUMTM Glaucoma WorkplaceTM and the VISULAS 532s VITE Laser System; New Indications Cleared for the VisuMax® Femtosecond Laser

CHICAGO, IL–(Marketwire – October 16, 2010) –  AAO Booth #1408 — Carl Zeiss Meditec today unveiled its newest product innovations at the 2010 American Academy of Ophthalmology annual meeting in Chicago. Powered by the FORUM Ophthalmic Data Management System, the new Glaucoma Workplace features FORUM HFA-Cirrus Combined Report (CR™), the world’s first commercially available OCT and visual field integration. In addition, new FDA-cleared products commercially available for the first time in the United States will be on display during the exhibition.

The FORUM Glaucoma Workplace

As part of Carl Zeiss Meditec’s ‘Creating What’s to Come’ theme, the FORUM Glaucoma Workplace delivers essential diagnostic technologies, such as perimetry, spectral domain OCT, fundus photography and scanning laser polarimetry, for unprecedented clinical utility and paperless workflow.

The FORUM Glaucoma Workplace adds a new diagnostic assessment feature — HFA-Cirrus Combined Report — the industry’s first integration of OCT and visual field diagnostic analysis. By combining data from the gold-standard Humphrey® Field Analyzer (HFA™) and Cirrus™ HD-OCT, this FORUM Combined Report provides structure and function status at-a-glance to help doctors make time-saving clinical assessments. This one-page digital snapshot delivers key patient exam information at the point-of-care for both right and left eyes of visual function, RNFL and optic nerve analysis.

“Clinical assessment of glaucoma patients, or particularly patients who have suspect glaucoma, requires assessment of visual function test results and structural parameters comparing both diagnostic modalities in each eye,” said Anders Heijl, MD, PhD, Professor and Chairman, Department of Ophthalmology, University of Lund, Sweden. “Automatically providing structural OCT and visual field data in a single combined on-screen report will save time and facilitate such comparisons. This type of development is important for the quality of clinical decision-making in routine glaucoma care.”

“FORUM’s Glaucoma Workplace and the new HFA-Cirrus Combined Report is a big step forward, and I am excited about the potential of this unique new capability,” said Michael S. Jacobs, MD, of Athens Eye Associates, Athens, GA. “Having OCT and perimetry data available in a single format will allow me to perform a more focused exam and ultimately to spend more time making the decisions that only I can make.”

With an estimated 25,000 Humphrey Field Analyzer II-i perimetry systems and approximately 6,000 Cirrus HD-OCT platforms in use worldwide, Carl Zeiss Meditec customers with both platforms can seamlessly integrate FORUM Glaucoma Workplace and the Combined Report into their practice. In addition, key ZEISS diagnostic instruments sold today are FORUM ready and include DICOM Gateway software and a DICOM Gateway license.*

New FDA-Cleared Products

Also being introduced at this year’s AAO meeting is the VISULAS 532s VITE photocoagulator which recently received marketing clearance from the U.S. Food and Drug Administration (FDA). The new keratoplasty indication for the VisuMax® Femtosecond Laser has also been granted FDA clearance, which is expected to significantly expand the product’s treatment range. 

  • VISULAS 532s VITE — This unique photocoagulation laser features variable and interactive multi-spot treatment cascades, giving ophthalmologists the greatest choice of treatment options to enhance therapeutic workflow and patient comfort during retinal photocoagulation procedures. Based on the concept of flexible treatment multi-spot cascades, linear, circular and customized coagulation strategies can be pursued in addition to traditional single-spot photocoagulation.

  • Keratoplasty Application for the VisuMax® Femtosecond Laser — The VisuMax Femtosecond Laser has received clearance from the U.S. FDA to perform lamellar resection of the cornea, lamellar keratoplasty, penetrating keratoplasty and corneal harvesting procedures. With a fast repetition rate of 500 kHz, the VisuMax delivers highly reproducible incisions with optimized surgical workflow.

“We are pleased to deliver a new suite of innovations that represents our philosophy of ‘Creating What’s to Come’ at this year’s AAO meeting,” said Ludwin Monz, CEO of Carl Zeiss Meditec. “Evolving from the FORUM Ophthalmic Data Management System that we introduced just one year ago, we now offer the Glaucoma Workplace and FORUM Combined Report, each of which will deliver time-saving and workflow advantages to ophthalmic practices worldwide. In addition, we are pleased to introduce new FDA-cleared therapeutic lasers that span refractive and retina treatment capabilities, reinforcing our commitment to continually advance our integrated product offerings for the benefit of our customers and their patients.” 

The FORUM Glaucoma Workplace and new FDA-cleared products will be on display at Carl Zeiss Meditec’s booth #1408 at McCormick Place in Chicago, IL. In addition, meeting delegates are invited to attend the Company-sponsored evening event, “A Vision For Your Future…Today” on Saturday, October 16, 2010 at the River East Art Center. Dual education symposia: “OCT Breakfast Conference with the Experts,” and the “Innovations in Refractive and Corneal Surgery,” will be held for meeting delegates on Sunday morning, October 17, 2010 at the Palmer House Hilton Hotel.

Brief profile
Carl Zeiss Meditec AG (ISIN: DE 0005313704), which is listed on TecDAX of the German stock exchange, is one of the world’s leading medical technology companies.

The Company supplies innovative technologies and application-oriented solutions which enable doctors to improve the quality of life of their patients. The Company offers complete solutions, including implants and consumables, to diagnose and treat ophthalmic diseases. In the field of Neuro/ENT surgery, the Company provides innovative visualization solutions. Carl Zeiss Meditec’s medical technology portfolio is rounded off by promising future technologies such as intraoperative radiotherapy.

The Company’s approximately 2,100 employees generated revenue of about EUR 600 million in fiscal year 2007/08 (ended Sept. 30). The headquarters of Carl Zeiss Meditec are located in Jena, Germany. In addition to other subsidiaries in Germany, the Company is represented by over 50 percent of its employees at sites in the USA, Japan, Spain and France.

Thirty-five percent of Carl Zeiss Meditec’s shares are in free float. The remaining 65 percent are held by Carl Zeiss AG, one of the world’s leading groups engaged in the optical and opto-electronics industry. The five independently run business segments of Carl Zeiss AG operate in the future-oriented markets “Medical and Research Solutions,” “Industrial Solutions” and “Lifestyle Products.” Carl Zeiss AG is headquartered in Oberkochen, Germany. During fiscal year 2007/08 (ended Sept. 30) the Company generated revenues of about EUR 2.7 billion. Carl Zeiss has around 13,000 employees in more than 30 countries, including more than 8,000 in Germany.

For further information please visit our website at: www.meditec.zeiss.com

* FORUM-Ready is not available for FDT and Matrix.

Contact:
Eva Sesselmann
Director Group Communications
Carl Zeiss Meditec AG
Göschwitzer Strasse 51-52
07745 Jena
Telefon: +49 3641 220-331
Telefax: +49 3641 220-332
Email: Email Contact

Carmen Caricchio
President
CoActive Health Communications
2600 18th Street, Suite 21
San Francisco, CA 94110
Telephone: +415 621-6626
Fax: +415 621-6636
Email: Email Contact

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Filed Under: Healthcare Business, Hospitals and Health Systems

TomoTherapy to Host Analyst and Investor Presentation at 2010 ASTRO Meeting in San Diego

Posted on October 15, 2010 Written by Editor

SOURCE: TomoTherapy

MADISON, WI–(Marketwire – October 15, 2010) – TomoTherapy Incorporated (NASDAQ: TOMO) announced today that it will host an analyst and investor presentation in conjunction with the annual ASTRO (American Society for Radiation Oncology) meeting in San Diego, Calif., on Monday, November 1, 2010, at 8:00 a.m. PDT.

Analysts and institutional investors are invited to register for this event by visiting: http://www.tomotherapy.com/register/2010_astro_analyst_investor_presentation.
Space is limited and early registration is advised.

TomoTherapy’s management team will present an update on its business and highlights of new developments for the TomoTherapy® radiation therapy platform. The company’s presentation will be Webcast. To access the live Webcast on November 1, 2010, go to the Investor Relations page of TomoTherapy.com and click on the Webcast icon. A replay of the Webcast will be available beginning at 11:00 a.m. PDT on the same day.

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

Susan Lehman
Rockpoint Public Relations
510.832.6006
Email Contact

Filed Under: Healthcare Business

Extendicare REIT Declares October 2010 Distribution

Posted on October 15, 2010 Written by Editor

MARKHAM, ONTARIO–(Marketwire – Oct. 15, 2010) – Extendicare Real Estate Investment Trust (“Extendicare REIT” or the “REIT”) (TSX:EXE.UN) today announced that it has declared a cash distribution of C$0.07 per unit of the REIT (the “REIT Units”) for the month of October 2010, which is payable to unitholders of record at the close of business on October 29, 2010, and will be paid on November 15, 2010.

Extendicare Limited Partnership (the “Partnership”) also announced that it has declared a cash distribution of C$0.07 per Class B limited partnership unit (the “Exchangeable LP Units”) for the month of October 2010, which is payable to unitholders of record at the close of business on October 29, 2010, and will be paid on November 15, 2010.

The current annualized distribution rate of the REIT and Partnership is C$0.84 per unit, payable in monthly distributions of C$0.07 per unit. In accordance with the distribution policy of both the REIT and the Partnership, unitholders of record at the close of business on the last business day of each calendar month will be paid a distribution on or about the 15th day of the following month.

Management estimates that approximately 70% of the 2010 distributions of the REIT and Partnership will be characterized as tax-deferred returns of capital for Canadian residents. To the extent the remaining 30% of distributions of the REIT and Extendicare LP to be made in 2010 are taxed as dividends, those paid to Canadian residents are eligible dividends as per the Income Tax Act (Canada). The REIT is not required to, and does not, calculate its “earnings and profits” pursuant to the United States Internal Revenue Code of 1986, as amended, and therefore no portion of its distributions represent qualified dividend income for U.S. tax purposes.

The REIT has a Distribution Reinvestment Plan, which provides Canadian resident holders of REIT Units and Exchangeable LP Units with the opportunity to increase their respective investments at a 3% discount to the volume weighted average trading price of the REIT Units on the TSX for the five trading days immediately preceding the distribution payment date. A copy of the Plan package is available under the investors section of the REIT’s website.

About Us

Extendicare REIT is a leading North American provider of long-term and short-term senior care services through its network of owned and operated health care centers. We employ 37,800 qualified and experienced individuals dedicated to helping people live better through a commitment to quality service that includes post-acute care, rehabilitative therapies and home health care services. Our 263 senior care centers in North America have capacity for approximately 29,200 residents. Extendicare REIT is a specified investment flow-through trust (SIFT) that has been subject to the SIFT tax since January 1, 2007.

Forward-looking Statements

Information provided by Extendicare REIT from time to time, including this release, contains or may contain forward-looking statements concerning anticipated financial events, results, circumstances, economic performance or expectations with respect to the REIT and its subsidiaries, including its business operations, business strategy, and financial condition. Forward-looking statements can be identified because they generally contain the words “expect”, “intend”, “anticipate”, “believe”, “estimate”, “project”, “plan” or “objective” or other similar expressions or the negative thereof. Forward-looking statements reflect management’s beliefs and assumptions and are based on information currently available, and the REIT assumes no obligation to update or revise any forward-looking statement, except as required by applicable securities laws. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the REIT to differ materially from those expressed or implied in the statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on the REIT’s forward-looking statements. Further information can be found in the disclosure documents filed by Extendicare REIT with the securities regulatory authorities, available at www.sedar.com and on the REIT’s website at www.extendicare.com.

Filed Under: Healthcare Business

Sun Healthcare Group, Inc. Schedules Conference Call to Announce Third-Quarter Earnings for 2010

Posted on October 14, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – October 14, 2010) – Sun Healthcare Group, Inc. (NASDAQ: SUNH) invites investors 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’s subsidiaries provide nursing, rehabilitative and related specialty healthcare services principally to the senior population in the United States. Sun’s core business is providing, through its subsidiaries, inpatient services, primarily through 166 skilled nursing centers, 16 combined skilled nursing, assisted and independent living centers, 10 assisted living centers, two independent living centers and eight mental health centers. On a consolidated basis, Sun has annual revenues of $1.9 billion and approximately 30,000 employees in 46 states. At June 30, 2010, SunBridge centers had 23,209 licensed beds located in 25 states, of which 22,427 were available for occupancy. Sun also provides rehabilitation therapy services to affiliated and non-affiliated centers through its SunDance subsidiary, medical staffing services through its CareerStaff Unlimited subsidiary and hospice services through its SolAmor subsidiary.

In May 2010, Sun announced a plan to restructure its business by separating its real estate assets and its operating assets into two separate publicly traded companies through a series of internal restructurings (the “Restructuring”), subject to the approval of stockholders and other conditions. In connection with the Restructuring, SHG will own and continue to operate all of Sun’s operating subsidiaries, with stockholders of Sun receiving a pro rata distribution of the stock of SHG (the “Separation”). Substantially all of Sun’s currently-owned real estate assets will be owned by Sabra Health Care REIT, Inc., a subsidiary of Sun (“Sabra”) and, immediately after the Separation, Sun will merge into Sabra. Following this merger, SHG 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 Restructuring (including the Separation) is expected to be completed in the fourth quarter of 2010.

Contact:
Investor Inquiries
(505) 468-2341

Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business

Microlog Wins Contract From Moncrief Army Community Hospital at Fort Jackson for Its New Wellness Management Suite(TM) Software Application

Posted on October 14, 2010 Written by Editor

SOURCE: Microlog Corporation

GAITHERSBURG, MD–(Marketwire – October 14, 2010) –  Microlog Corporation (PINKSHEETS: MLOG), a Gaithersburg, Maryland-based technology leader in Integrated Voice Response (IVR) and Computer Telephony Integration (CTI) solutions for the Government, Healthcare and Lotteries has been awarded a contract from Moncrief Army Community Hospital, the main medical center at Ft. Jackson in Columbia, South Carolina, for its Wellness Management Suite™ software application and to increase system capacity of the already installed ServiceFirst™ Contact Center. 

“We look forward to providing Moncrief Army Community Hospital with upgrades to our existing products while also installing one of our newest Microlog products,” said Microlog CEO Richard Meccarielli. “We are confident our Wellness Management Suite™ will promote health and wellness at medical facilities and also enable staff to more efficiently keep up with Healthcare Effectiveness and Information Set (HEDIS) information, which has been a troubling issue for many health centers.”

The Wellness Management Suite™ automatically sorts HEDIS data and develops a call list for each health campaign (Diabetes, Colon Cancer, PAP, Mammogram, etc.) to notify patients of wellness appointments needed. The WMS™ application is then prompted to call patients, their identity is verified, and the patient records responses whether or not they would like to set appointments. Data of those requesting appointments is then sent to hospital staff so that they can more efficiently keep track of each patient’s HEDIS record.

Along with the addition of the Wellness Management Suite™, Microlog upgraded the system hardware for their ServiceFirst™ Contact Center to increase system capacity and allow for greater call flow and less downtime for outside callers. 

About Microlog:

Microlog Corporation designs, implements and services patented software applications that enhance the productivity of the customer contact center experience, as well as providing consultation on a variety of system integration options. The company’s services encompass the migration of e-commerce into the traditional call center environment by Web enablement. Microlog’s award winning products support this Web enablement, as well as supporting all inbound and outbound media, telephone, e-mail, fax, and Web for contact centers.

For further information about Microlog’s products and solutions, please contact Vanessa Meccarielli, Investor Relations, at (202) 746-7776 or by email at [email protected].

MEDIA CONTACT:
Vanessa Meccarielli
Microlog Corporation
(202) 746-7776
[email protected]

Click here to see all recent news from this company

Filed Under: Healthcare Business, Hospitals and Health Systems

TRDX Enters Into Advanced Discussions for Rights Acquisition of Eco-tabs, an Innovative Environmental Business

Posted on October 14, 2010 Written by Editor

SOURCE: Trend Exploration, Inc.

JERICHO, NY–(Marketwire – October 14, 2010) – SciMeDent Health, Corp. f/k/a Trend Exploration, Inc. (“TRDX” or the “Company”) (PINKSHEETS: TRDX) today announces that it has entered into discussion to acquire the exclusive rights to Eco-tabs, an innovative environmental product (www.eco-tabs.com).

Eco-tabs™ are patent pending, multifunctional tablets engineered to oxygenate wastewater, remove hydrogen sulfide odors, prevent corrosion, and initiate aerobic biological breakdown of organic sludge, including natural oils and grease.

The Company expects discussions to continue advancing towards a transaction in the near term.

Dr. Stahl, CEO of TRDX, commented: “We have a lot a belief in the global sales potential of Eco-tabs. I look forward to completing the next steps with them.”

About SCIMEDENT f/k/a Trend Exploration, Inc. (PINKSHEETS: TRDX)
SciMeDent (www.scimedenthealth.com) is a company focused on being a leading developer and marketer of products and services for medicine, dentistry and life sciences. SciMeDent plans to achieve growth initially through mergers and acquisitions.

Cautionary Statement Regarding Forward-Looking Statements

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

Filed Under: Healthcare Business

TomoTherapy to Announce Third Quarter Financial Results on Thursday, October 28, 2010

Posted on October 14, 2010 Written by Editor

SOURCE: TomoTherapy

MADISON, WI–(Marketwire – October 14, 2010) –  TomoTherapy Incorporated (NASDAQ: TOMO), maker of advanced radiation therapy solutions for cancer care, announced today that it will release its 2010 third quarter results on Thursday, October 28, 2010 at 3:00 p.m. CDT.

TomoTherapy will hold an investment community conference call on Thursday, October 28, 2010 beginning at 4:00 p.m. CDT. 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 4, 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

FONAR Announces Financial Results for Fiscal 2010

Posted on October 13, 2010 Written by Editor

SOURCE: Fonar Corporation

MELVILLE, NY–(Marketwire – October 13, 2010) – FONAR Corporation (NASDAQ: FONR), The Inventor
of MR Scanning™, today announced its financial results for the fiscal
year ending June 30, 2010. Total revenues were $31.8 million for the fiscal
year ended June 30, 2010 as compared to $39.7 million for fiscal 2009. The
net loss for the fiscal year ended June 30, 2010, was $3.0 million, as
compared to a net income of $1.1 million for fiscal 2009. The net loss per
share (basic and diluted) for the fiscal year ended June 30, 2010 was
$0.61, as compared to a net income per share (basic and diluted) of $0.21
for the fiscal year ended June 30, 2009.

Revenues from the management of the UPRIGHT® Multi-Position™ MRI
Centers was at $11.1 million for the year ended June 30, 2010 as compared
to $10.3 million one year earlier.

Revenues from UPRIGHT® MRI service and repair fees increased to $11.1
million for the fiscal year ended June 30, 2010 as compared to $10.5
million one year earlier.

Revenues from product sales of the FONAR UPRIGHT® Multi-Position™ MRI
scanners were $9.1 million in the fiscal year ended June 30, 2010, as
compared to $17.2 million in the fiscal year ended June 30, 2009. On June
30, 2010 there were 143 FONAR UPRIGHT® Multi-Position™ MRI scanners
installed in the United States and around the world.

“Total costs and expenses related to operations decreased 15%, from $40.4
million in the fiscal year ended June 30, 2009, to $34.4 million in the
fiscal year ended June 30, 2010,” said Raymond Damadian, M.D., Chairman and
President of Fonar Corporation. “The Company has taken strenuous steps to
controlling costs while continuing to run its business including producing
the FONAR UPRIGHT® Multi-Position™ MRI scanner. These cost cutting
programs were first begun over two years ago.”

At June 30, 2010, total assets were $21.6 million, total current assets
were $14.7 million, total current liabilities were $24.7 million, total
stockholders’ deficiency was $5.8 million and total long-term liabilities
were $2.7 million. Total cash and marketable securities were $1.3 million.
The backlog for MRI product was $14.9 million.

Dr. Damadian remarked, “FONAR has been faced with an ongoing recession and
uncertainty with regard to reimbursement and health care reform. Perhaps
most significant is the prevention of FONAR customers to obtain credit in
this difficult banking environment. Subsequently, FONAR has had to make a
massive amount of cost cuts. Reductions have been made in many categories
most significantly in research and development (R&D), and selling, general
and administrative (S, G & A) areas. Overall, R&D and S, G & A expenses
were reduced over 15% to $14.4 million for the fiscal year ending June 30,
2010 as compared to $17.0 million during the fiscal year ending at June 30,
2009.”

Dr. Damadian said, “FONAR’s prospects have much improved since our nation’s
financial difficulties last year and our customers’ uncertainties regarding
the Deficit Reduction Act (DRA) have eased. Over the past few years, the
medical evidence continues to grow indicating that the FONAR UPRIGHT®
Multi-Position™ MRI is the best MRI for diagnosing spinal problems such
as low back pain or motor vehicle whiplash injuries of the neck as well as
symptoms in other weight-bearing structures of the human body (e.g. knee,
hip, ankle, foot, shoulder, etc.). So as pent-up demand for MRI scanners
surfaces, we look forward to rising sales.”

Fiscal Year Highlights

Dr. Damadian said, “Many of the 2010 fiscal year highlights included
UPRIGHT® MRI installations, an important journal research paper and
significant increases in the patient scan totals among the 9 UPRIGHT®
Multi-Position™ (STAND-UP® MRI) imaging centers managed by FONAR’s
subsidiary Health Management Corporation of America (HMCA). In fact for
fiscal 2010, the scanning centers are now performing collectively
approximately 300 scans per month at each of the nine centers, a 16%
increase over that of the previous year.”

The July 2010 issue of the medical journal “Brain Injury”
(www.fonar.com/news/072110.htm) published a very significant study of 1200
neck pain patients comparing the FONAR UPRIGHT® Multi-Position™ MRI to
a conventional recumbent MRI and the ability to diagnose whiplash trauma
from a motor vehicle accident. The 1200 neck pain patients were divided
into 4 groups, consisting of 2 control neck pain groups that did not
experience whiplash trauma and 2 neck pain groups that did. The
radiologists who read the study images were blinded as to which images were
the patient images and which were the control images. The patients were
examined in both the upright and recumbent positions. The recumbent MRI
images were obtained in a conventional recumbent MRI and the upright images
were obtained in the FONAR UPRIGHT® MRI. The “Brain Injury” study showed
that the fallen cerebellar tonsils (CTE) caused by motor vehicle whiplash
injuries were being missed 60% of the time where the patient was scanned
recumbent-only in a conventional “lie-down MRI” and not scanned upright.
As a result of this study, the medical evidence indicated that the fallen
cerebellar tonsils of a whiplash injury patient can now be reliably
visualized by using the FONAR UPRIGHT® Multi-Position™ MRI. In fact a
customer who recently purchased the FONAR UPRIGHT® MRI said that ‘From
our point of view, here in Germany, the newly published 1200 patient study
in “Brain Injury” sets a “new standard of care” for whiplash injury
patients.’ (www.fonar.com/news/080310.htm)

During the fiscal year ended June 30, 2010, FONAR added to its world-wide
installed base of FONAR UPRIGHT® Multi-Position™ MRIs. Among them was
an installation at Hospital ZorgSaam Zeeuws-Vlaanderen, Terneuzen, The
Netherlands. This 340-bed hospital performs a significant amount of
orthopedic and spine surgery. In addition, it is one of the biggest
centers in The Netherlands for the treatment of bariatric patients. The
UPRIGHT® MRI was sold by Tecserena GmbH, FONAR’s European distributor
since 2006. At the time of the sale, radiologists at Hospital ZorgSaam
Zeeuws-Vlaanderen said they sought the advanced technology provided by the
FONAR UPRIGHT® Multi-Position™ MRI to increase the diagnostic
precision of the images of weight-bearing anatomy, establishing for their
hospital a new standard of excellence throughout Europe for orthopedic
surgical outcomes.

The year was also a big year for North Carolina installations. Prior to
this year there were no FONAR UPRIGHT® Multi-Position™ MRIs in the
state. This year UPRIGHT® MRIs were installed in Charlotte and Durham.
Introducing the FONAR UPRIGHT® Multi-Position™ MRI in North Carolina
was a lengthy process as that state has certificate of need laws designed
to limit the number of advanced medical equipment units entering the state.

Pocatella, Idaho, Las Vegas, Nevada, and Duluth, Minnesota were also
recipients of the UPRIGHT® MRI scanner. For Minnesota, this is the third
scanner purchased by the Center for Diagnostic Imaging (CDI), one of the
nation’s premier diagnostic center businesses. In addition, as the fiscal
year ended, installation of the first UPRIGHT® MRI scanner in Africa was
nearing completion.

Dr. Damadian said, “We are delighted with the results of our efforts on
‘selling scans’ at the nine UPRIGHT® Multi-Position™ MRI, aka
STAND-UP® MRI, managed sites. Currently, the Company manages nine
STAND-UP® MRIs and an earlier model FONAR QUAD™ MRI through its
wholly-owned subsidiary, HMCA (Health Management Corporation of America;
www.hmca.com). The centers’ performance improved steadily monthly. In fact,
the nine STAND-UP® MRIs performed a record 3,183 scans during the month
of March, 2010, an average of 354 per scanner. This is a 35% increase as
compared to 2,354 scans done during the month of March 2009, one year
earlier.”

“We are delighted with the response of referring physicians to the
STAND-UP® MRI. It is becoming increasingly obvious to referring
physicians that scanning patients without the force of gravity, which is
the case with all single-position, recumbent-only MRI scanners, results in
missed, critical pathology,” said Dr. Damadian. “These physicians are now
referring their patients to the scanner and experiencing more accurate
diagnoses and better outcomes for their patients as a result of scanning
them upright and fully weight-bearing in the exact position that generates
their symptoms, which the FONAR UPRIGHT® Multi-Position™ MRI makes
possible. Additionally, patients themselves appreciate the spacious,
non-claustrophobic process of being seated comfortably while watching
television throughout their scan. Mothers can enter the scanner with their
infant on their laps. The infant watching his favorite television cartoon
throughout the scan, remains motionless thereby avoiding the need for
anesthesia which currently is required for scanning the vast majority of
children under the age of seven when they are scanned in a conventional
lie-down MRI.”

Matters concerning holders of FONAR Corporation stock certificates

Recently, many of our shareholders have received letters from CST (Computer
Share Trust), www.computershare.com, telephone 800-962-4284. It is very
important for investors to respond to these letters or else risk of being
subject to state escheatment laws. Essentially, shareholders holding
older, pre-reverse stock-split certificates must exchange their old
certificates for new ones.

In addition, investors may have changed addresses or appeared to have
abandoned their stock. If this could possibly be you, we urge you to
contact CST to update your information.

Again please call CST at 800-962-4284. For more information on FONAR stock
please visit: www.fonar.com/invest_faq.htm

For investor and other information visit: www.fonar.com.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR
Scanning™, Full Range of Motion™, pMRI™, Dynamic™,
Multi-Position™, True Flow™, The Proof is in the Picture™,
Spondylography™ Spondylometry™ and Upright Radiology™ are
trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that
may or may not materialize. Additional information on factors that could
potentially affect the company’s financial results may be found in the
company’s filings with the Securities and Exchange Commission.

                  FONAR CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS

                                ASSETS
                                ------


                                                         June 30,
                                                --------------------------
                                                    2010          2009
                                                ------------  ------------
Current Assets:
  Cash and cash equivalents                     $  1,299,493  $  1,225,619
  Marketable securities                               27,613        22,652
  Accounts receivable - net of allowances for
   Doubtful accounts of $2,289,049 and
   $2,393,326 at June 30, 2010 and 2009,
   respectively                                    4,820,541     5,391,822
  Medical receivables - net of allowances for
   Doubtful accounts of $1,622,000 and
   $1,343,500 at June 30, 2010 and 2009,
   respectively                                       25,225       374,225
  Management fee receivable - net of allowances
   for Doubtful accounts of $5,808,345 and
   $5,093,345 at June 30, 2010 and 2009,
   respectively                                    2,568,526     3,273,756
  Management fee receivable - related medical
   Practices - net of allowances for doubtful
   Accounts of $1,129,818 and $1,094,818 at
   June 30, 2010 and 2009, respectively            1,921,983     2,196,580
  Costs and estimated earnings in excess of          
   billings on uncompleted contracts                 277,384     1,475,706
  Inventories                                      2,826,211     3,172,397
  Current portion of advances and notes to
   related medical practices                          83,423       164,611
  Current portion of note receivable - net of
   allowances for doubtful accounts of $115,000
   and $65,000 at June 30, 2010 and at
   June 30, 2009, respectively                       271,796       517,934
  Prepaid expenses and other current assets          552,800       472,397
                                                 -----------   -----------
      Total Current Assets                        14,674,995    18,287,699

Property and Equipment - Net                       2,108,556     2,892,380

Advances and Notes to Related Medical Practices -
 net of allowances for doubtful accounts of
 $264,791 at June 30, 2010 and at June 30, 2009        -            89,032

Notes Receivable                                       -         1,778,626

Other Intangible Assets - Net                      4,291,419     4,920,241

Other Assets                                         553,875       391,237
                                                ------------  ------------
      Total Assets                              $ 21,628,845  $ 28,359,215
                                                ============  ============


                  FONAR CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS

                              LIABILITIES
                              -----------


                                                         June 30,
                                                --------------------------
                                                    2010          2009
                                                ------------  ------------
Current Liabilities:
  Current portion of long-term debt and capital
   Leases                                       $    579,436  $    277,494
  Current portion of long-term debt - related
   party                                              87,835        79,509
  Accounts payable                                 3,191,960     3,518,609
  Other current liabilities                        8,065,069     8,460,042
  Unearned revenue on service contracts            5,219,547     5,526,006
  Customer advances                                4,813,327     9,237,921
  Billings in excess of costs and estimated
   earnings on uncompleted contracts               2,743,398     2,026,441

                                                ------------  ------------
      Total Current Liabilities                   24,700,572    29,126,022
                                                ------------  ------------
Long-Term Liabilities:
  Accounts payable                                    62,622       184,168
  Due to related medical practices                   527,891       643,135
  Long-term debt and capital leases, less
   current portion                                 1,566,622       759,211
  Long-term debt, less current portion -
   related party                                      72,341       160,176
  Other liabilities                                  474,763       427,365
                                                ------------  ------------
      Total Long-Term Liabilities                  2,704,239     2,174,055
                                                ------------  ------------
      Total Liabilities                           27,404,811    31,300,077
                                                ------------  ------------
Commitments, Contingencies and Other Matters


                  FONAR CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS

                       STOCKHOLDERS' DEFICIENCY
                       ------------------------


                                                         June 30,
                                                --------------------------
                                                    2010          2009
                                                ------------  ------------
Stockholders' Deficiency:
  Class A non-voting preferred stock - $.0001
   par value; authorized - 1,600,000 shares;
   issued and outstanding - 313,451 shares
   at June 30, 2010 and 2009                    $         31  $         31
  Preferred stock - $.001 par value;
   authorized - 2,000,000 shares; issued
   and outstanding - none                               -             -
  Common stock - $.0001 par value; authorized -
   30,000,000 shares at June 30, 2010 and 2009,
   respectively; issued - 4,985,850 and
   4,917,918 shares at June 30, 2010 and 2009,
   respectively; outstanding - 4,974,207 and
   4,906,275 shares at June 30, 2010 and 2009,
   respectively                                          497           491
  Class B common stock (10 votes per share) -
   $.0001 par value; authorized - 800,000
   shares; issued and outstanding - 158 shares
   at June 30, 2010 and 2009                            -             -
  Class C common stock (25 votes per share) -
   $.0001 par value; authorized - 2,000,000
   shares; issued and outstanding - 382,513
   shares at June 30, 2010 and 2009                       38            38
  Paid-in capital in excess of par value         172,379,863   172,280,600
  Accumulated other comprehensive loss               (18,489)      (20,995)
  Accumulated deficit                           (177,271,349) (174,258,607)
  Notes receivable from employee stockholders       (191,167)     (267,030)
  Treasury stock, at cost - 11,643 shares
   of common stock at June 30, 2010 and 2009        (675,390)     (675,390)
                                                ------------  ------------
      Total Stockholders' Deficiency              (5,775,966)   (2,940,862)
                                                ------------  ------------
      Total Liabilities and Stockholders'
        Deficiency                              $ 21,628,845  $ 28,359,215
                                                ============  ============


                  FONAR CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF OPERATIONS

                                               For the Years Ended June 30,
                                               ---------------------------
                                                   2010           2009
                                               ------------   ------------
Revenues
  Product sales - net                          $  9,056,307   $ 17,175,417
  Service and repair fees - net                  10,864,927     10,345,091
  Service and repair fees - related parties -
   net                                              220,000        192,500
  Management and other fees                       7,302,216      7,342,614
  Management and other fees - related
   medical practices - net                        3,786,612      2,911,318
  License fees and royalties                        585,493      1,755,493
                                               ------------   ------------
      Total Revenues - Net                       31,815,555     39,722,433
                                               ------------   ------------
Costs and Expenses
  Costs related to product sales                  7,248,756     10,758,201
  Costs related to service and repair fees        3,026,598      3,992,557
  Costs related to service and repair fees
   - related parties                                 61,284         74,293
  Costs related to management and other fees      5,320,756      4,507,587
  Costs related to management and other fees
   - related medical practices                    2,962,826      2,790,745
  Research and development                        2,458,342      3,593,470
  Selling, general and administrative,
   inclusive of compensatory element of stock
   issuances of $99,269 and $4,061 for the
   years ended June 30, 2010 and 2009,
   respectively                                  11,939,223     13,423,066
  Provision for bad debts                         1,378,500      1,286,451
                                               ------------   ------------
      Total Costs and Expenses                   34,396,285     40,426,370
                                               ------------   ------------
      Loss from Operations                       (2,580,730)      (703,937)

Other Income and (Expenses):
  Interest expense                                 (313,416)      (333,229)
  Interest expense - related parties                (74,486)         -
  Investment income                                 249,290        325,688
  Interest income - related parties                  10,926         20,818
  Other income - net                                 45,674        399,662
  Loss on note receivable                          (350,000)         -
  Gain on sale of consolidated subsidiary             -          1,448,196
                                               ------------   ------------
      (Loss) Income Before Provision For
       Income Taxes                              (3,012,742)     1,157,198

Provision for Income Taxes                            -             35,931
                                               ------------   ------------
       Net (Loss) Income                       $ (3,012,742)  $  1,121,267
                                               ============   ============

Filed Under: Healthcare Business

SpectraScience Names New Chairman of the Board

Posted on October 13, 2010 Written by Editor

SOURCE: SpectraScience, Inc.

SAN DIEGO, CA–(Marketwire – October 13, 2010) –  SpectraScience, Inc. (OTCBB: SCIE), a San Diego based medical device company, today announced that Jim Hitchin, the Company’s current Chairman and CEO, resigned as Chairman effective October 8, 2010 and that the Board elected Mark McWilliams to assume the duties of Chairman of the Board of Directors.

Jim Hitchin, SpectraScience’s CEO, said, “The Company is planning its future growth strategy and as a part of best practices and good governance is separating the Chairmanship from the Chief Executive Officer role consistent with Sarbanes-Oxley guidance.”

Mr. McWilliams has served as a Director of the Company since 2004 and brings his expertise in managing and growing technology companies, a strong network of contacts in the medical device industry and experience in technology transactions. Mr. McWilliams also serves as the CEO of Medipacs, Inc., a development stage infusion pump company. Prior to that, from December 2003 to November 2005, he was Director of Cell Imaging and Analysis at Beckman Coulter after the sale of Q3DM to Beckman in December 2003. He was President and Chief Executive Officer and Director of Q3DM, from October 2001 to December 2003, a life-sciences startup that raised several angel and venture capital funding rounds that was acquired by Beckman Coulter. Previously, he was founder and COO of Medication Delivery Devices (“MDD”), an alternate care infusion systems company that was acquired by Baxter Healthcare in 1996. Mr. McWilliams served as a VP of Research and Development at Baxter Healthcare for three years following the sale of MDD. Prior to MDD, he served as Product Development Manager at the founding of Block Medical where he was responsible for bringing the company’s first two FDA approved products rapidly to market. Block was sold to Hillenbrand Industries in 1991. He previously worked for Hughes Aircraft, Vacuum General and Martin Marietta. Mr. McWilliams has expertise in managing and growing small technology companies and has a strong network of contacts within the medical devices industry. He earned his MSME from the Massachusetts Institute of Technology, his BSME from Northeastern University and holds eight utility patents.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties that may cause SpectraScience’s actual results to differ materially from results discussed in forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by SpectraScience in this news release, its most recent Form 10-K and in SpectraScience’s other reports filed with the Securities and Exchange Commission (“SEC”) that attempt to advise interested parties of the risks and factors that may affect SpectraScience’s business. These forward-looking statements are qualified in their entirety by the cautions and risk factors filed by SpectraScience in its annual report on Form 10-K and other documents.

About SpectraScience, Inc.
SpectraScience is a San Diego based medical device company that designs, develops, manufactures and markets spectrophotometry systems capable of determining whether tissue is normal, pre-cancerous or cancerous without physically removing tissue from the body. The WavSTAT Optical Biopsy System uses light to optically scan tissue and provide the physician with an immediate analysis. With FDA approval for sale in the U.S. and the CE Mark for the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use. The Company’s LUMA imaging technology has received FDA approval for an optical non-invasive system that is proven to more effectively detect cervical cancer precursors than conventional methods available in the market today.

Contact:
SpectraScience, Inc.
Jim Hitchin
Chief Executive Officer
(858) 847-0200 x201

Hayden Communications
Investor Relations
Todd Pitcher
(858) 518-1387

Filed Under: Healthcare Business, Senior Care

Charles Harris Joins Access Plans, Inc. as President of America’s Health Care/Rx Plan Agency, Inc.

Posted on October 13, 2010 Written by Editor

SOURCE: Access Plans, Inc.

NORMAN, OK–(Marketwire – October 13, 2010) –  Access Plans, Inc. (OTCBB: APNC), a leading membership benefits marketing company, today announced the appointment of Charles Harris as President of America’s Health Care/Rx Plan Agency, Inc. (“AHCP”), the Company’s insurance marketing division and subsidiary. 

“We are very pleased to welcome Charles Harris to our management team,” commented Danny Wright, Chief Executive Officer of Access Plans, Inc. “He brings to our Company over 25 years of experience in the health insurance industry, where he has served in a number of management positions, and AHCP will benefit greatly from his exceptional overall understanding of the business. Charles’ solid marketing, accounting and compliance experience, in addition to his familiarity with AHCP, its founding management and the challenges that confront the industry today, make him uniquely qualified to lead AHCP.” 

Mr. Harris most recently served as President and Chief Executive Officer of National Health Insurance Company in Ft. Worth, Texas.

About Access Plans, Inc.

Access Plans, Inc. (OTCBB: APNC) is a leading membership benefits marketing company with two distribution channels. The Wholesale/Retail Plans distribution channel specializes in turnkey, private-label membership benefit plans that provide discount products and services, protection benefits, and retail services to more than one million customers in the United States and Canada. America’s Health Care/Rx Plans (“ACHP”), the Company’s Insurance Marketing distribution channel, is one of America’s largest independent agent networks and provides major medical, life and supplemental insurance products to individuals. 

The Company is headquartered in Norman, Oklahoma, and its common stock trades on the OTC Bulletin Board under the symbol “APNC”. For more information, visit the Company’s website at www.accessplans.com.

Forward-Looking Statement

This press release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to financial results and plans for future business activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed in, or implied by, such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are competitive pressures, loss of significant customers, revenue mix, changes in pricing policies, delays in revenue recognition, lower-than-expected demand for the Company’s products and services, general economic conditions, and other risk factors detailed from time to time in the Company’s periodic reports and registration statements filed with the Securities and Exchange Commission. Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995, and the Company assumes no responsibility for updating such forward-looking statements after the date of this release.

For additional information, please contact:
Robert Hoeffner
Sr. V.P., Administration
(405) 579-8525
[email protected]

RJ Falkner & Company, Inc.
Investor Relations Counsel
(800) 377-9893
[email protected]

Filed Under: Healthcare Business

New Century Hospice Closes $20M Series A Financing Led by Scale Venture Partners and Petra Capital Partners

Posted on October 13, 2010 Written by Editor

SOURCE: New Century Hospice

New Capital to Support Regional Expansion of Network of Hospice Care Centers

DALLAS, TX–(Marketwire – October 13, 2010) – New Century Hospice, a provider of hospice care to patients in nine centers located in Texas, today announced that it has closed $20M in Series A financing, led by Scale Venture Partners and Petra Capital Partners. New Century Hospice will use this new financing to continue its expansion of standalone hospice care centers located in Texas and neighboring Southern states. With the completion of this financing, Mark Brooks and Lou Bock, both Managing Directors with ScaleVP, and David Fitzgerald, General Partner with Petra Capital, join the Board.

New Century Hospice owns nine hospice companies in Texas under the operating names of Century Hospice, Cosmos Hospice, Heritage Care Hospice, Paragon Hospice and Angel Heart Hospice.

“I started this company with the belief that providing patients with high-quality, end-of-life care is both good for patients and their families and is cost-effective as well,” said David Gasmire, founder and CEO of Century Hospice. “Lou, Mark and David are experienced investors in companies that deliver medical care in a clinical situation. They understand how to scale this type of business successfully, while keeping care for patients the top priority. I look forward to working with them as we expand the company.”

Patients served by hospice typically have a life expectancy of six months or less, and the treatment is focused on palliation or comfort care for the patient and the family. The hospice approach to care is called “interdisciplinary,” because it involves the participation of many healthcare professionals, who are focused on addressing medical, spiritual, psycho-social and personal needs of patients and their families. The goal of this approach is quality of life for both patients and their families. The Medicare Hospice Benefit, enacted in 1983, also provides for medications, equipment and supplies related to the patient’s diagnosis.

“ScaleVP has a history of successful investments in healthcare service companies like New Century Hospice, where demographic trends and superior outcomes at lower costs drive growth,” said Mark Brooks, Managing Director with ScaleVP. “It is an honor to be working with David and the team at Century Hospice to expand their care centers.”

David Fitzgerald, General Partner with Petra Capital commented, “Hospice care will play an increasingly important role as more physicians begin to view hospice as the most appropriate option for patients with a terminal diagnosis. In our view, hospice care allows patients and their families to address the emotional and physical challenges of end of life care with the support of an interdisciplinary team in the most appropriate care setting. We are pleased to have the opportunity to partner with such an outstanding management team, led by David Gasmire, and look forward to helping New Century Hospice achieve its growth plans.”

About Scale Venture Partners
Based in Foster City, California, the ScaleVP team is a long-standing partnership with a consistent, top quartile track record of returns for the past decade. ScaleVP’s market-tested investment strategy, extensive operating networks and go-to-market expertise help identify and build successful portfolio companies in technology and healthcare markets. The ScaleVP team’s collaborative and active approach provides entrepreneurs a competitive advantage for growth and category leadership. Representative portfolio companies include AlimeraSciences, EverydayHealth, ExactTarget, Frontbridge, IPC TheHospitalist Company, mBlox, Monolithic Power Systems, National Healing, NComputing, Omniture, Orexigen, ScanSafe, and Zogenix. For more information, visit www.scalevp.com.

About Petra Capital Partners
Petra Capital Partners, LLC is a private equity firm based in Nashville, Tennessee. The firm is actively investing its second SBIC fund, Petra Growth Fund II, which has $160 million of available capital to invest. Its previous funds under management total $130 million. Petra provides non-control subordinated debt and/or preferred stock to high growth companies for expansion, acquisition, buyout, refinancing or recapitalization in partnership with the founding management team. Petra seeks to invest up to $15 million in growth companies that possess a minimum of $10 million in revenue and positive EBITDA at the time of investment. The fund targets business, healthcare and information technology services companies. For more information, please visit Petra’s website at www.petracapital.com or call (615) 313-5999.

About New Century Hospice
Based in Dallas, Texas, New Century Hospice is a leading provider of hospice services to patients, families and healthcare providers. The Management Team of Century Hospice has, combined, over 50 years of hospice experience. At New Century Hospice, we believe that quality care provides quality time for our patients and their families. For more information, please contact: www.centuryhospice.com.

For more information, please contact:
Carol Sacks
TENOR Communications
650.520.8261
Email Contact

Filed Under: Healthcare Business, Hospitals and Health Systems

Healthcare Services Group, Inc. Reports Results for the Three and Nine Months Ended September 30, 2010 and Declares Increased Third Quarter 2010 Cash…

Posted on October 12, 2010 Written by Editor

SOURCE: Healthcare Services Group, Inc.

BENSALEM, PA–(Marketwire – October 12, 2010) – Healthcare Services Group, Inc. (NASDAQ: HCSG)
reported that revenues for the three months ended September 30, 2010
increased over 9% to $195,114,000 compared to $178,829,000 for the same
2009 period. Net income for the three months ended September 30, 2010
increased approximately 12% to $9,169,000 or $.21 per basic and per diluted
common share, compared to the 2009 third quarter net income of $8,225,000
or $.19 per basic and per diluted common share.

Revenues for the nine months ended September 30, 2010 increased over 12% to
$571,868,000 compared to $510,134,000 for the same 2009 period. Net income
for the nine months ended September 30, 2010 increased approximately 7% to
$25,318,000 or $.58 per basic and $.57 per diluted common share compared to
the 2009 nine month period net income of $23,776,000 or $.55 per basic and
$.54 per diluted common share.

The Board of Directors has declared a third quarter 2010 regular quarterly
cash dividend of $.2325 per common share, payable on November 5, 2010 to
shareholders of record at the close of business October 22, 2010. This
represents an increase over the dividend declared for the 2010 second
quarter, as well as an increase of 16% over the 2009 same period payment.
It is the 30th consecutive regular quarterly cash dividend payment, as well
as the 29th consecutive increase since our initiation of regular quarterly
cash dividend payments in 2003.

Additionally, our Board of Directors has declared a three-for-two stock
split in the form of a 50% stock dividend payable on November 12, 2010 to
holders of record of its Common Stock at the close of business November 8,
2010. All fractional share interests will be rounded up to the nearest
whole number. The effect of this action will be to increase Common Shares
outstanding by approximately 22,000,000 shares.

The Company will host a conference call on October 13, 2010 at 8:30 AM
Eastern Time to discuss its results for the three and nine month periods
ended September 30, 2010. The call in numbers are 888-259-8552 and
913-312-1406 (passcode # 8945410).

Cautionary Statement Regarding Forward-Looking Statements

This release and any schedules incorporated by reference into this report
may contain forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934 (the “Exchange Act”), as amended, which are not
historical facts but rather are based on current expectations, estimates
and projections about our business and industry, our beliefs and
assumptions. Words such as “believes,” “anticipates,” “plans,” “expects,”
“will,” “goal,” and similar expressions are intended to identify
forward-looking statements. The inclusion of forward-looking statements
should not be regarded as a representation by us that any of our plans will
be achieved. We undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Such forward-looking information is also subject to
various risks and uncertainties. Such risks and uncertainties include, but
are not limited to, risks arising from our providing services exclusively
to the health care industry, primarily providers of long-term care; credit
and collection risks associated with this industry; one client accounting
for approximately 11% of revenues in the nine month period ended September
30, 2010; risks associated with our acquisition of Contract Environmental
Services, Inc., including integration risks or costs, or such business not
achieving expected financial results or synergies or failure to otherwise
perform as expected; our claims experience related to workers’ compensation
and general liability insurance; the effects of changes in, or
interpretations of laws and regulations governing the industry, our
workforce and services provided, including state and local regulations
pertaining to the taxability of our services; and the risk factors
described in our Form 10-K filed with the Securities and Exchange
Commission for the year ended December 31, 2009 in Part I thereof under
“Government Regulation of Clients,” “Competition” and “Service
Agreements/Collections,” and under Item IA “Risk Factors.” Many of our
clients’ revenues are highly contingent on Medicare and Medicaid
reimbursement funding rates, which Congress has affected through the
enactment of a number of major laws during the past decade, most recently
the March 2010 enactment of the Patient Protection and Affordable Care Act
and the Health Care and Education Reconciliation Act of 2010. Currently,
the U.S. Congress is considering further changes or revising legislation
relating to health care in the United States which, among other
initiatives, may impose cost containment measures impacting our clients.
These laws and proposed laws and forthcoming regulations have significantly
altered, or threaten to alter, overall government reimbursement funding
rates and mechanisms. The overall effect of these laws and trends in the
long-term care industry have affected and could adversely affect the
liquidity of our clients, resulting in their inability to make payments to
us on agreed upon payment terms. These factors, in addition to delays in
payments from clients, have resulted in, and could continue to result in,
significant additional bad debts in the near future. Additionally, our
operating results would be adversely affected if unexpected increases in
the costs of labor and labor related costs, materials, supplies and
equipment used in performing services could not be passed on to our
clients.

In addition, we believe that to improve our financial performance we must
continue to obtain service agreements with new clients, provide new
services to existing clients, achieve modest price increases on current
service agreements with existing clients and maintain internal cost
reduction strategies at our various operational levels. Furthermore, we
believe that our ability to sustain the internal development of managerial
personnel is an important factor impacting future operating results and
successfully executing projected growth strategies.

Healthcare Services Group, Inc. is the largest national provider of
professional housekeeping, laundry and dietary services to long-term care
and related facilities.

                      HEALTHCARE SERVICES GROUP, INC.
                          CONDENSED CONSOLIDATED
                           STATEMENTS OF INCOME
                                (Unaudited)


                                                For the Three Months Ended
                                                        September 30,
                                                    2010          2009
                                                ------------- -------------
Revenues                                        $ 195,114,000 $ 178,829,000
Operating costs and expenses:
   Cost of services provided                      168,384,000   155,228,000
   Selling, general and administrative             14,488,000    11,936,000
                                                ------------- -------------
Income from operations                             12,242,000    11,665,000
Other income:
    Investment and interest income                  1,182,000     1,709,000
                                                ------------- -------------
Income before income taxes                         13,424,000    13,374,000
Income taxes                                        4,255,000     5,149,000
                                                ------------- -------------
Net income                                      $   9,169,000 $   8,225,000
                                                ============= =============

Basic earnings per common share                 $         .21 $         .19
                                                ============= =============

Diluted earnings per common share               $         .21 $         .19
                                                ============= =============

Cash dividends per common share                 $         .23 $         .19
                                                ============= =============
Basic weighted average number of
 common shares outstanding                         44,026,000    43,626,000
                                                ============= =============

Diluted weighted average number of
 common shares outstanding                         44,719,000    44,334,000
                                                ============= =============




                      HEALTHCARE SERVICES GROUP, INC.
                          CONDENSED CONSOLIDATED
                           STATEMENTS OF INCOME
                                (Unaudited)


                                                 For the Nine Months Ended
                                                       September 30,
                                                    2010          2009
                                                ------------- -------------
Revenues                                        $ 571,868,000 $ 510,134,000
Operating costs and expenses:
   Cost of services provided                      492,196,000   438,950,000
   Selling, general and administrative             41,539,000    36,328,000
                                                ------------- -------------
Income from operations                             38,133,000    34,856,000
Other income:
    Investment and interest income                  1,549,000     3,803,000
                                                ------------- -------------
Income before income taxes                         39,682,000    38,659,000
Income taxes                                       14,364,000    14,883,000
                                                ------------- -------------
Net income                                      $  25,318,000 $  23,776,000
                                                ============= =============

Basic earnings per common share                 $         .58 $         .55
                                                ============= =============

Diluted earnings per common share               $         .57 $         .54
                                                ============= =============

Cash dividends per common share                 $         .66 $         .54
                                                ============= =============
Basic weighted average number of common shares
 outstanding                                       43,964,000    43,540,000
                                                ============= =============

Diluted weighted average number of common
 shares outstanding                                44,677,000    44,224,000
                                                ============= =============




                      HEALTHCARE SERVICES GROUP, INC.
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                                (Unaudited)


                                                September 30, December 31,
                                                    2010          2009
                                                ------------- -------------
Cash and cash equivalents                       $  26,109,000 $  31,301,000
Marketable securities, net                         44,498,000    52,648,000
Accounts receivable, net                          108,363,000   104,356,000
Other current assets                               24,350,000    23,865,000
                                                ------------- -------------
  Total current assets                            203,320,000   212,170,000

Property and equipment, net                         5,591,000     4,391,000
Notes receivable- long term, net                    6,084,000     4,623,000
Goodwill, net                                      16,955,000    17,087,000
Other Intangible Assets, net                        7,730,000     8,862,000
Deferred compensation funding                      12,510,000    10,783,000
Other assets                                       10,082,000     7,976,000
                                                ------------- -------------

Total Assets                                    $ 262,272,000 $ 265,892,000
                                                ============= =============


Accrued insurance claims- current               $   6,032,000 $   4,844,000
Other current liabilities                          18,186,000    29,873,000
                                                ------------- -------------
  Total current liabilities                        24,218,000    34,717,000

Accrued insurance claims- long term                14,074,000    11,302,000
Deferred compensation liability                    12,837,000    11,099,000
Stockholders' equity                              211,143,000   208,774,000
                                                ------------- -------------

Total Liabilities and Stockholders' Equity      $ 262,272,000 $ 265,892,000
                                                ============= =============


Filed Under: Healthcare Business

Somnia Anesthesia Services Appoints John B. Ansorge to Post of Chief Financial Officer

Posted on October 12, 2010 Written by Editor

SOURCE: Somnia Inc.

Healthcare Veteran Tapped to Support Company’s Growth Agenda

NEW ROCHELLE, NY–(Marketwire – October 12, 2010) –  Somnia Anesthesia, the premier anesthesiology practice management company, today announced the appointment of John Ansorge to the position of chief financial officer. In this newly created role, Ansorge will assume oversight of the company’s financial operations, with responsibility for accounting, financial planning and reporting, budgets and forecasting. He will report to Somnia President and CEO, Marc E. Koch, MD, MBA.

Mr. Ansorge joins Somnia with more than 20 years’ experience in hospital finance. Most recently, he held the position of interim CFO for Stamford Health System in Stamford, Connecticut, a 305-bed teaching hospital affiliated with the Columbia University Medical School and posting net revenues of $450M. While there, he reorganized the Patient Access Department, initiated and controlled a cost savings plan aimed at reducing expenses, reduced supply costs, and successfully reorganized the hospital’s debt during unfavorable market conditions.

“John is a highly talented healthcare finance professional who rounds out our world-class executive team,” said Dr. Koch. “He brings tremendous business acumen to the organization and we’re confident he will put in place the financial structure needed to support our continued growth in the hospital market.”

Prior to joining Stamford Health System, Mr. Ansorge held the post of chief financial officer at a variety of hospitals including Lincoln Park Hospital and Ephraim McDowell Regional Medical Center, located in Chicago and Kentucky, respectively. While at Lincoln, he reduced cash flow losses and increased collections. He also moved the hospital’s EBITA results into positive territory for the first time in five years.

Earlier in his career, Mr. Ansorge honed his healthcare accounting and finance skills in a series of roles requiring increasing levels of responsibilities at Humana, Inc. and Columbia/HCA Healthcare Corporation.

Mr. Ansorge holds a BS, Healthcare Management, from the University of Alabama.

About Somnia
Somnia Inc., founded in 1996, is the most experienced physician-owned and operated clinical anesthesia management company servicing healthcare facilities nationwide. Somnia specializes exclusively in building and comprehensively managing world-class anesthesia teams that consistently deliver the highest quality of patient care. The company expertly manages all areas of anesthesia including leadership, recruiting, revenue cycle management, payor contracting and quality assurance with the largest in-house management infrastructure in the United States.

For more information visit: www.somniainc.com. Follow us on Twitter: http://www.twitter.com/somniainc.
Add us on LinkedIn: http://www.linkedin.com/in/somniaanesthesia.

Contact:
Danielle McAuley
914.637.3533

Click here to see all recent news from this company

Filed Under: Healthcare Business, Hospitals and Health Systems

JC Data Solutions Contracted by Legacy Reserves, LP to Provide Payment Manager(TM)

Posted on October 11, 2010 Written by Editor

SOURCE: JC Data Solutions, Inc.

DALLAS, TX–(Marketwire – October 11, 2010) –  JC Data Solutions (PINKSHEETS: JCDS), a provider of innovative and cost-effective solutions for digital office workflow and data management focusing on the Oil & Gas, Legal and Healthcare industries, has entered into an agreement to provide their Payment Manager™ services to Legacy Reserves, LP of Midland, TX.

The Payment Manager™ software, designed by JCDS especially for the Oil & Gas Industry, is part of a turnkey service that automates the distribution, delivery and archival of payments and documents to payees through ACH/EFT and posts documents to the web. The service also offers printing checks and/or statements, joint interest billing and other cost-effective data management functions.

Legacy, a public company traded on the NASDAQ under symbol LGCY, is an independent oil and natural gas limited partnership headquartered in Midland, Texas, specializes in Oil & Natural Gas Operations in the Permian Basin and Mid-Continent Regions focusing on the acquisition and development of oil and natural gas properties.

Cary Allen, CEO of JCDS, said, “Legacy Reserves is growing and recognized the need to streamline some of their processes. Payment Manger™ provides several key operational advantages as well as significant reduction of paper and manpower associated with their distribution process.”

Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are “forward-looking statements” are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.

All information in this release is as of the date of this release.

Filed Under: Health Technology and AI, Healthcare Business

MMRGlobal Board Seat Opens for Strategic Opportunity

Posted on October 8, 2010 Written by Editor

SOURCE: MMRGlobal, Inc.

LOS ANGELES, CA–(Marketwire – October 8, 2010) –  MMRGlobal, Inc. (OTCBB: MMRF) (the “Company”) today announced that David A. Boyden, a member of MMRGlobal’s Board of Directors (the “Board”) since January 2009, has notified the Company of his intent to resign from the Board, effective today. There were no disagreements between the Company and Mr. Boyden which led to his decision to resign.

“Dave joined the Board at the request of the pre-merger Faville, Inc. Board of Directors and has contributed to the Company’s efforts in the exploitation of its biotech assets. He is not resigning due to disagreements with the Company or its officers over operations, policies or practices,” said Robert H. Lorsch, MMRGlobal Chairman and CEO. “We appreciate Dave’s many contributions to the Company since the merger and I will miss his involvement. The Company plans on a search for a replacement director with expertise in biotech, insurance or banking.”

About MMRGlobal, Inc.

MMR Global, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (“MMR”), provides secure and easy-to-use online Personal Health Records (“PHRs”) and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, and professional organizations and affinity groups. MyMedicalRecords enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. The MyMedicalRecords Personal Health Record is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user’s account. The Company’s professional offering, MMRPro, is designed to give physicians’ offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. MMR is also an integrated service provider on Google Health. To learn more about MMR Global, Inc. and its products, visit www.mmrglobal.com.

Forward-Looking Statements

Any statements contained in this press release that refer to future events or other non-historical matters are forward-looking statements, and some can be identified by the use of words (and their derivations) such as “need,” “possibility,” “offer,” “development,” “if,” “negotiate,” “when,” “begun,” “believe,” “achieve,” “will,” “estimate,” “expect,” “maintain,” “plan,” and “continue.” MMRGlobal, Inc. disclaims any intent or obligation to revise or update any forward-looking statements. These forward-looking statements are based on MMRGlobal, Inc.’s reasonable expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The information discussed in this release is subject to various risks and uncertainties related to changes in MMRGlobal, Inc.’s business prospects, results of operations or financial condition, government regulation, and such other risks and uncertainties as detailed from time to time in MMRGlobal, Inc.’s public filings with the U.S. Securities and Exchange Commission.

CONTACT:
Bobbie Volman
MMRGlobal, Inc.
(310) 476-7002, Ext. 7015
[email protected]

Michael Selsman
Public Communications Co.
(310) 553-5732
[email protected]

Filed Under: Healthcare Business

Amergence Group Acquires Altitude Organic Licensing Corporation

Posted on October 8, 2010 Written by Editor

SOURCE: The Amergence Group

DENVER, CO and PHOENIX, AZ–(Marketwire – October 8, 2010) –  The Amergence Group (PINKSHEETS: AMNG), a company that focuses on developing, nurturing, and rapidly expanding selected emerging or “disruptive” companies across a wide range of industries and disciplines, announced today that it has completed the successful acquisition of Altitude Organic Licensing Corporation (AO) which is headquartered in Denver, Colorado. Terms for the acquisition will be disclosed in a subsequent release.

The company currently has 5 stores using its Altitude Organic™ Trademark who pay an annual license fee of $15,000 per year. Banding together for strength, the Altitude Organic licensee-dispensaries receive joint-marketing benefits, limited free marketing from corporate, purchasing power on all approved partner products and services, national brand recognition, lobbying efforts, medical marijuana consulting, commercial real estate placement and attorney advisory in addition to booth space at the annual convention.

AO’s prez, Brian Cook, said, “Thanks to the Amergence Group we will now be able to offer a stock compensation plan for all our store owners. I believe this will be a tremendous incentive for prospective dispensary licensees. In addition, our ownership of the National Medical Marijuana Association (NMMA) will put Altitude Organic in ‘pole position’ to provide the best services to our licensees and their customers and enable Altitude Organic to capitalize on this exploding trend. Through this growth process, we must always remain vigilant to defend our high quality standards, developing protocols, and compassionate customer service for our patients.”

Amergence managing director Peter Jacobs stated, “Our acquisition of Altitude Organic Licensing Corp. at this time makes perfect sense for Amergence shareholders. I have been seeing this ‘marijuana legalization wave’ building since 1970 and I sense it is getting ready to crest. The Company’s timing for this acquisition couldn’t be better.”

Altitude Organic Medicine medical marijuana centers are currently located in Denver, CO, Colorado Springs, CO, and San Diego, CA.

The National Medical Marijuana Association (NMMA) commercial can be viewed here: http://www.youtube.com/watch?v=hXQMsPlKJcc

To learn more about the National Medical Marijuana Association visit them here: http://nationalmedicalmarijuanaassociation.org/ 

ABOUT THE AMERGENCE GROUP
The Amergence Group’s (PINKSHEETS: AMNG) provides valuable advice and support to new businesses with its goal of accelerating their intended plans to introduce edgy, disruptive, and/or innovative technologies to the world market. The Company’s 8-year-old Tranzbyte division continues to focus on the development and marketing of its innovative group of optical media enhancement technologies worldwide such as FLASHAlbum, a technology which enables distributors of optic disc media (CDs and DVDs) to combine the best features of both on one USB flash drive.

ABOUT ALTITUDE ORGANIC LICENSING CORPORATION
Altitude Organic Licensing Corporation was founded in Denver during the medical marijuana industry “fever” of early 2010. AO Licensing Corp. generates revenue in the fastest growing industry in the United States without carrying the liability of growing and selling marijuana. The company generates revenue by licensing its “Altitude Organic™” Federal Trademark to dispensaries. The company also offers medical cannabis advocacy and consulting services to its licensed dispensaries. The corporate website can be found at: www.AltitudeOrganicMedicine.com.

NOTES ABOUT FORWARD-LOOKING STATEMENTS

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.

Company and Contact:
Peter H. Jacobs
Managing Director
[email protected]
14220 N. Northsight Blvd., Suite 139
Scottsdale, AZ 85260
(480) 443-1600

Company and Contact:
Brian Cook
President
[email protected]
1716 Boulder St.
Denver, CO. 80211
(720) 855-6337

Filed Under: Healthcare Business

PCTS Announces Record New Contract Signings and 100% Renewal of Existing Customers

Posted on October 6, 2010 Written by Editor

SOURCE: Patient Care Technology Systems

CHARLOTTE, NC–(Marketwire – October 6, 2010) – Patient Care Technology Systems (PCTS), a subsidiary of Consulier Engineering, Inc. (NASDAQ: CSLR) today announced they have signed a record number of contracts for the year and that 100% of their existing tracking customers have renewed their agreements for ongoing solutions and services.

“There is no stronger endorsement of our company and solutions than the dramatic increase in new contract signings and the continual renewal, and expansion of customer agreements. Every year, our customers almost unanimously renew their agreements. They expand their implementations while finding greater value in our breadth of solutions,” said Tony Marsico, PCTS president and CEO.

Renewals are executed when customers want to extend their agreement with PCTS to provide additional products, maintenance and/or support. So, the 100% renewal rate means that every customer who was with PCTS in January of 2010 will continue their agreements in 2011.

“The renewal of these agreements is extremely important as they not only provide a viable, ongoing stream of revenue that supports enhanced research and development, but also because they provide validation that the company as a whole is approaching the market with the right innovative solutions that are clearly in demand. The benefits of these solutions more than justify the investment the health care organizations are making in PCTS. The financial and performance advantages we offer our clients are what’s driving the accelerating growth we are seeing,” says Warren Mosler, CEO of Consulier Engineering, the primary shareholder of PCTS.

“What is equally exciting, is that almost every customer doesn’t just renew their existing agreement, but actually comes back to us for additional work each year,” states Jaime Ojeda, PCTS vice president of sales and business development. Ojeda says, “In 2010 alone, we will have about 70% of our existing tracking customers expand their PCTS installations. This, combined with the record number of sales we have made to new customers, is what is driving our continued growth and validates PCTS as the ‘go to’ provider of healthcare real time locating and workflow automation systems. PCTS has been supporting the healthcare industry since 1997 and our exceptional growth will allow us to expand our offerings.”

To facilitate and manage this growth, so far in 2010, PCTS has increased employment by almost 20% and is estimating almost double that in 2011.

“That we have been able to increase revenues as much as we have with only a 20% increase in staff is also very encouraging,” says Tony Marsico. “The work we have done to deliver our solutions in as efficient a way as possible is allowing us to enjoy the tremendous growth without excessive increases in overhead or any need to increase prices.”

In February of this year, the company announced the opening of a subsidiary based outside of London that will service the UK and European Union. Patient Care Technology Systems, Ltd. is holding two seminars the week of October 11 that will present innovative techniques for improving accident and emergency department (A&E) productivity, streamlining workflow, and improving overall operational efficiency and quality of practice.

Tony Marsico adds, “Since becoming CEO in April 2005, my emphasis, and hence our company’s emphasis, has been ensuring that our customers realize the complete value of our solutions. This includes much more than just customer service. We are automating hospital workflow through visibility, communication and real-time tracking of interactions between entities, patients and staff. This has successfully allowed our customers to consistently enhance revenue and contain costs, resulting in solid, bottom-line returns on their investment. Our renewal rate shows that they are getting that ROI and our focus is paying off.”

About Patient Care Technology Systems

Patient Care Technology Systems, a subsidiary of Consulier Engineering, Inc. (NASDAQ: CSLR), helps health care providers to improve patient flow, increase capacity and improve patient and staff safety by visualizing the real time location and status of people and equipment throughout their facility. PCTS solutions have supported over 2 million patient visits annually and have shown a proven return on investment in high turnover, high-acuity units such as the emergency department and perioperative suites. The Amelior Enterprise Visibility and Workflow Automation Suite™ is interoperable with all leading locating technologies, including active-RFID, infrared, ultrasound, ultra-wideband, Wi-Fi and ZigBee. PCTS customers have been recognized nationally for improvements in efficiency and clinical excellence. For more information, visit www.pcts.com and connect to PCTS on Facebook and Twitter.

This press release contains forward-looking statements within the meaning of federal securities laws. PCTS and CSLR caution you that any statements contained in this press release which are not strictly historical statements constitute forward-looking statements. Such forward-looking statements include, but are not limited to, those related to PCTS’s and CSLR’s expectations regarding continued business growth. These statements are neither promises nor guarantees, and involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, (copies of which may be obtained at the SEC’s website at: http://www.sec.gov) — could impact the forward-looking statements contained in this press release. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PCTS and CSLR disclaim any obligation to publicly update or revise any such statements to reflect any change in PCTS and CSLR’s expectations, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Contact:
Karen Beran
Marketing Operations Manager
714-642-1056
Email Contact

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Filed Under: Healthcare Business

CONMED Corporation to Announce Third Quarter 2010 Financial Results on October 28, 2010

Posted on October 6, 2010 Written by Editor

SOURCE: CONMED Corporation

UTICA, NY–(Marketwire – October 6, 2010) –  CONMED Corporation (NASDAQ: CNMD) announced today that it expects to report third quarter 2010 financial results before the market opens on Thursday, October 28, 2010, and will also hold a conference call live over the Internet at 10:00 a.m. Eastern Time that same day. This webcast can be accessed from CONMED’s web site at www.conmed.com. Replays of the call will be made available through November 5, 2010.

The Company anticipates that forward-looking information and additional material details related to third quarter 2010 earnings and the Company’s expectations on a prospective basis may be discussed during the call. Such forward-looking information may involve risks and uncertainties such as those described in the Company’s SEC filings.

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

CONTACT:

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

FD
Brian Ritchie
212-850-5600

Filed Under: Healthcare Business, Hospitals and Health Systems

CareCloud Raises $5 Million in Second Angel Investor Round

Posted on October 5, 2010 Written by Editor

SOURCE: CareCloud

MIAMI, FL–(Marketwire – October 5, 2010) –  CareCloud, a provider of on-demand software and services for the healthcare industry, today announced it has closed a $5 million round of investment capital. Investors include a cadre of prominent entrepreneurs and business leaders. The Company has raised in excess of $7.8 million to date.

“We are delighted with the outpouring of support from our investors. They share our passion and vision to revolutionize the healthcare experience with our digital ecosystem,” said CareCloud President and CEO, Albert Santalo. “This funding is validation of the tremendous progress the company has made since closing its first round in January of 2010. We are experiencing explosive growth since our product launch in March of 2010, and we plan to use this capital to invest in our software development and service infrastructure while fueling additional growth.”

CareCloud offers a suite of web-based apps that allow physicians to manage their business and also allows them and their patients to communicate and collaborate with each other in real time across multiple points of care via the company’s web-based digital ecosystem. By leveraging the power of cloud computing to deliver technology-enabled services to healthcare providers, CareCloud is creating an integrated environment where all participants share a common commitment to reducing inefficiency and providing excellence in care.

CareCloud received global attention recently for winning top honors at IBM’s SmartCamp competition, an exclusive mentoring program through which IBM seeks to identify and support innovative new technology companies. As the winner of the Silicon Valley SmartCamp event, CareCloud will be competing against other winners from around the globe for the title of “World’s Smartest Startup,” as well as for the attention of many of the world’s most prominent venture capitalists.

About CareCloud
CareCloud is a web-based software and services company that modernizes the workflow in a medical practice. Visit CareCloud online at www.carecloud.com, blog.carecloud.com, or www.twitter.com/carecloud.

Media Inquiries
Mike Cuesta
Director of Marketing
CareCloud
305-265-4230
Email Contact

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Filed Under: Healthcare Business

Imaging3 Executes Securities Purchase Agreement for Sale of Common Stock and Warrants for $1 Million

Posted on October 5, 2010 Written by Editor

SOURCE: Imaging3, Inc.

BURBANK, CA–(Marketwire – October 5, 2010) –  Imaging3™, Inc. (OTCBB: IMGG), developer of a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time, announced today that the company entered into a Securities Purchase Agreement with two institutional investors for the sale of common stock and warrants for $1 million.

The terms of the securities purchase agreement include the sale of 4,587,157 shares of common stock at 20% discount to Friday’s closing price ($0.218). The warrants include: (i) Series A Warrants, which are immediately exercisable for a period of 5 years into 4,587,157 shares at $0.2725 per share; (ii) Series B Warrants, which are immediately exercisable for a period of up to 18 months into 4,587,157 shares at $0.218 per share and (iii) Series C Warrants, which are immediately exercisable for a period of 5 years into 4,587,157 shares at $0.2725 per share but only to the extent that the Series B Warrants are exercised and only in the same percentage that the Series B Warrants are exercised. All of such warrants contain customary adjustments for corporate events such as reorganizations, splits, dividends, and the exercise prices of all such warrants are subject to full-ratchet anti-dilution adjustments in the event of additional issuances of common stock below the exercise price then in effect.

“This transaction will provide Imaging3 with sufficient working capital for the next year,” stated the company’s Chairman/CEO Dean Janes.

The completion of the offering is subject to the satisfaction of customary closing conditions and is expected to close on or before October 14, 2010. The net proceeds from this offering will be used solely for working capital purposes. In the securities purchase agreement, the company agreed not to use the proceeds to satisfy any debt, to redeem any of the company’s outstanding securities or with respect to any litigation involving the company.

The company will also provide customary resale registration rights in connection with the offering.

Wharton Capital Partners, Ltd., a New York based investment banking firm, acted as the placement agent for the company in this offering.

The shares of common stock and warrants being sold in the placement have not been registered under the Securities Act and may not be offered or sold without registration with the Securities and Exchange Commission, or under an applicable exemption.

About Imaging3

Imaging3, Inc., founded in 1993, is a leading provider of advanced technology medical imaging devices. The Company has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time. Because these 3D images are instantly constructed in real-time, they can be used for any current or new medical procedures in which multiple frames of reference are required to perform medical procedures on or in the human body. Visit the company’s website at http://www.imaging3.com for more information.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, technological obsolescence, competition from other medical instrument(s) and imaging companies, lack of capital, unexpected costs, failure or delay of FDA approval, absence of revenue, the impact on the national and local economies resulting from an economic recession or terrorist actions, and U.S. actions subsequently; unavailability of financing for the Company or its customers, product malfunction and potential product liability claims, and other factors detailed in reports filed by the Company.

Contact:
Imaging3, Inc.
Investor Relations
800-900-9729

Filed Under: Healthcare Business, Senior Care

Healthcare Information Solution Provider Enclarity Hires Chief Financial Officer

Posted on October 5, 2010 Written by Editor

SOURCE: Enclarity, Inc.

Warren Gouk to Lead Business Development for Further Expansion Into Healthcare and Information Service Marketplaces and Cultivate Relationships for Strategic Partnership Building

ALISO VIEJO, CA–(Marketwire – October 5, 2010) – Enclarity, Inc., a leading healthcare information solutions company, today announced the appointment of Warren Gouk as chief financial officer and head of business development. Gouk will oversee all of the company’s financial strategy, financial reporting, along with leading the company’s business and corporate development efforts. He joins Enclarity from Cascadia Capital, where he served as managing director and practice leader across various teams within the company’s investment banking practice.

“This has been a year of tremendous expansion for Enclarity, which included financial investments, strategic partnerships, significant new clients and industry recognition, and we foresee this growth accelerating,” said Sean Downs, chief executive officer, Enclarity. “By bringing Warren on board, we now have the expertise in place to help guide Enclarity into the next phase of development. His extensive experience building strategic relationships will help us both build and maintain partnerships with companies like Emdeon, along with expanding our focus into other healthcare and information service markets.”

At Cascadia Capital, Gouk built the firm’s physical security and Internet digital media teams into a top-three nationally ranked investment banking practice. He has spent his career advising private and public high-growth companies in the healthcare technology and data services markets. In addition, Gouk worked for five years with PricewaterhouseCoopers as a financial auditor to middle market companies across North America and as a strategic advisor to governments in Central America and the Caribbean pursuing privatizations and project finance transactions. Gouk holds a finance degree from the University of British Columbia, and has earned the Chartered Accountant (CA) and Chartered Financial Analyst (CFA) designations.

About Enclarity
Enclarity® solves healthcare’s provider information problem. The company delivers correct, current and comprehensive provider information solutions by blending thousands of data sources, advanced analytics and healthcare expertise. As a result, its clients improve results in many areas, including claims processing, provider directories, regulatory compliance and market analysis. Named one of the Top 100 private technology companies in North America by Red Herring magazine and awarded the Global Healthcare Information Technology Excellence Award by Frost & Sullivan, Enclarity is headquartered in Aliso Viejo, Calif. For more information, visit www.enclarity.com.

Contacts

Company:
Brian Teeter
Enclarity, Inc.
949-614-8115
Email Contact

Media:
Theresa Dreike
Remarx Media Inc.
714-706-0433 ext. 102
Email Contact

Click here to see all recent news from this company

Filed Under: Healthcare Business, Hospitals and Health Systems

Uni-Ter Wins Computer Sciences Corporation Innovation Award

Posted on October 4, 2010 Written by Editor

SOURCE: Uni-Ter Underwriting Management Corporation

ATLANTA, GA–(Marketwire – October 4, 2010) –  Uni-Ter Underwriting Management Corporation (UUMC), builder and manager of Risk Retention Groups in the healthcare industry, won the Computer Sciences Corporation (CSC) award for innovation in the process of customizing the CSC RISKMASTER X policy administration and claims processing software to reduce UUMC operational costs and increase efficiency.

According to the award citation, “Integrating all facets of the business will improve continuity and structure within the organization. UUMC has used the expertise that CSC has earned through its 50 years of industry experience to evaluate its business practices and establish guidelines to ensure that day-to-day operations are handled consistently and adequately. As a result of this process, UUMC has determined that integrating additional CSC products may be desired to achieve the all-inclusive system that would set UUMC apart from its competitors. A second phase project plan has already been initiated.”

The award was presented at CSC’s annual Connect Conference held in Kissimmee, Fl. The conference was attended by some 1,500 representatives of companies that do business with CSC.

For more information, contact:
Mechlin Moore
MDM Communications
239-777-1595
Email Contact

Filed Under: Healthcare Business

Valiant Health Care, Inc. Announces Execution of Term Sheet to Acquire Atlantic Medical Supply, Inc.

Posted on September 30, 2010 Written by Editor

SOURCE: Valiant Health Care, Inc.

CORAL SPRINGS, FL–(Marketwire – September 30, 2010) –  Valiant Health Care, Inc. (OTCBB: VHCI) (PINKSHEETS: VHCI) announces that it has executed a term sheet with Atlantic Medical Supply, Inc., a Florida corporation (“AMS”), under which it will acquire all of the outstanding shares of AMS in exchange for cash, shares of Valiant’s common stock and options to purchase shares of Valiant’s common stock. 

Atlantic is a Joint Commission Accredited, Medicare Certified firm serving South Florida’s home medical equipment and supply needs since 1993. As one of the area’s largest retail suppliers of home health products and services, they provide superior customer service and top quality, state-of-the-art medical equipment and supplies.

The parties intend to quickly negotiate the stock purchase agreement and hope to close the transaction as quickly as possible, but no later than six months from the signing of the term sheet. Specific terms of the purchase will be provided when the stock purchase agreement is completed and filed with the SEC as required.

Ms. Salem, Co-founder of Accessible stated that “Acquisition of Atlantic a DME provider is the next important step toward achieving our objective of being a “One Stop Provider” of home health care” she continued “We are looking forward to having the Founders of Atlantic join our team, they bring 17 years each of successful experience in the home health care industry.”

About Valiant Health Care, Inc.
Through our Accessible Home Health Care division, we offer and sell a proven one of its kind franchise opportunity to establish and operate a full service medical and personal care Accessible Home Health Care franchise, under our distinctive brand and system. As of the date of this press release, there are 96 Accessible Home Health Care franchise units and one company-owned unit in 24 states, as well as in India and Kenya.

Accessible’s business model is designed to lead and direct the 21st Century demands of the long term home health care industry by offering a “Complete Home Healthcare Package™” and being a “One Stop Provider™.” Accessible’s primary mission is to provide the highest quality home health care services and products to its patients while adding value to the payers by reducing direct costs and the potential for fraud. Accessible’s next phase of growth includes an expansion of its company owned units by acquisition of Medicare certified home health care providers in strategic geographic markets.

Forward-Looking Statements
This release is not an offer to purchase or sell securities and may contain statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements herein are or may be based on current estimates and projections about Valiant’s business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Valiant assumes no obligation to update information concerning its expectations.

Filed Under: Healthcare Business, Senior Care

Sun Healthcare Group, Inc. Schedules Special Stockholder Meeting to Approve Restructuring

Posted on September 30, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – September 30, 2010) –  Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced that it will be holding a special stockholder meeting on Thursday, Nov. 4, 2010 at the Irvine Hilton Hotel. At this meeting, stockholders will vote on the previously announced restructuring pursuant to which Sun is separating its operating assets and its real property assets by means of a distribution of SHG Services, Inc. stock. SHG Services, Inc. will own all of Sun’s operating assets and will be renamed Sun Healthcare Group, Inc. Stockholders will also be asked to vote on the merger of Sun with and into Sabra Health Care REIT, Inc., which will own substantially all of Sun’s real property assets, and intends to elect to be treated as a real estate investment trust effective Jan. 1, 2011. As previously announced, Sun expects that the restructuring will be completed in the fourth quarter of 2010.

The record date for stockholders entitled to vote at the meeting is Sept. 15, 2010. Sun expects that a proxy statement/prospectus describing the restructuring transactions will be mailed to stockholders on or about Oct. 4, 2010.

Richard K. Matros, Sun’s Chairman and Chief Executive Officer, commented, “We look forward to the opportunity to create increased shareholder value by separating into two publicly-held companies with independent growth strategies. This meeting is a significant step in the restructuring process.”

About Sun Healthcare Group, Inc.

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

Forward-Looking Statements

Statements made in this release that are not historical facts are “forward-looking” statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These forward-looking statements may include, but are not limited to, statements containing words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “hope,” “intend,” “may” and similar expressions. Factors that could cause actual results to differ are identified in the public filings made by the Company with the Securities and Exchange Commission (SEC) and include the company’s ability to successfully complete the restructuring on terms and conditions satisfactory to Sun, 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 the company’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 is being mailed to Sun stockholders on or about October 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 Annual Report on Form 10-K for the year ended December 31, 2009 filed with the SEC on March 5, 2010 and in the definitive proxy statement relating to Sun’s 2010 Annual Meeting of Stockholders filed with the SEC on April 30, 2010. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the interests of these participants is also included in the definitive proxy statement/prospectus regarding the proposed transactions that is being mailed to Sun stockholders on or about October 4, 2010.

Contact:

Investor Inquiries
(505) 468-2341

Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business

PHILand Ranch Signs Agreement to Co-Develop Part of Hanoi South An Khanh New City

Posted on September 30, 2010 Written by Editor

SOURCE: PHILand Ranch, Ltd.

FRANKFURT, GERMANY and LOS ANGELES, CA–(Marketwire – September 30, 2010) – PHIGroup, Inc., (OTCBB: PHIE) today announced that its subsidiary PHILand Ranch Ltd., a company engaged in the development of master-planned communities, residential and commercial properties, hospitality and healthcare services in Vietnam and Southeast Asia, (WKN A0RPEA) (FRANKFURT: 1P8) (XETRA: 1P8), has signed an agreement with Hanoi-based Huong Viet International Investment and Trade Joint Stock Company to co-develop the HH3 Project, part of the South An Khanh New City, about 10 kilometers (6.2 miles) from Central Hanoi, Vietnam.

The HH3 Project consists of 2.8 hectares (6.92 acres) along Lang Hoa Lac Highway in An Khanh Village, Hoai Duc District, Hanoi City, which has been approved for 40% mixed use construction, with seven 40-story building blocks to be built, 38 stories of which are allocated for residential purposes. PHILand Ranch will be responsible for engaging a renowned architectural firm to help design the project and jointly contributing capital towards the development and construction.

Total cost of the HH3 Project is estimated at $238.7 million while projected revenues range from $323.5 million to $582.2 million and net profits from $63.5 million to $257.7 million, based on a sale price of $1,000/square meter to $1,800/square meter. PHILand Ranch may own 50% to 70% of the project, based on actual resource contributions such as design work, capital contributed and project management.

According to Cushman Wakefield, the real estate market in Vietnam is showing signs of recovery in line with positive growth of the Vietnamese economy and Hanoi’s increasing population and urbanization ratio, which is predicted to be 30% in 2010 and 50% in 2020. Good investment returns are anticipated in all residential segments especially in the premium and executive levels since demand for houses for people with an average income always remains high.

Henry Fahman, Chairman of PHILand Ranch, said, “We are delighted to partner with Huong Viet, a group of real estate experts who possess in-depth knowledge of the local market, marketing savvy and a extensive client network, to develop the HH3 Project to meet the growing demand of the housing market in Hanoi and its surrounding areas. This is the first of our joint development projects with selective local Vietnamese partners as part of our growth strategy.”

About PHILand Ranch Ltd.
PHILand Ranch Limited, a United Kingdom corporation, is engaged in the development of master-planned communities, residential and commercial properties, hospitality and healthcare services in Vietnam and the growing economies of Southeast Asia. The company is currently developing the first phase of a multi-billion dollar project at Pointe91 in Bien Rang, Chu Lai, Quang Nam Province, Central Vietnam through its wholly owned Vietnam-based subsidiary PHILand Vietnam Ltd. PHILand Ranch’s stock is traded on the Frankfurt Stock Exchange (FRANKFURT: 1P8), (WKN A0RPEA). Website: www.PHILandranch.com.

About PHIGroup, Inc.
PHIGroup (OTCBB: PHIE) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHIGroup is also engaged in mining activities through its majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com). Website: www.phiglobal.com.

Contact:
Daniel St. John
Director and Corporate Strategist
PHILand Ranch Ltd.
Tel: +1-714-843-5453
Email: [email protected]

Filed Under: Healthcare Business

Sage a Preferred Vendor of Ohio Health Information Partnership

Posted on September 29, 2010 Written by Editor

SOURCE: Sage

Regional Extension Center Vendor Partnerships Will Increase Quality of Care and Improve Public Health

TAMPA, FL–(Marketwire – September 29, 2010) –  Sage North America today announced that the Sage Healthcare Division, a major provider of electronic health records (EHR) and practice management software serving approximately 80,000 physicians throughout the United States, has been named a preferred vendor by the Ohio Health Information Partnership to make available the Sage Intergy Meaningful Use Edition to all of the Regional Extension Center’s (REC) thousands of participating healthcare providers.

The Ohio Health Information Partnership (OHIP) is a nonprofit, funded through a combination of state funds and federal grants, whose mission is to advance the adoption, implementation and meaningful use of health IT among health care providers to improve the safety, quality, accessibility, availability and efficiency of healthcare for the citizens of Ohio. The organization was created by the American Recovery and Reinvestment Act (ARRA).

Fred Richards, CIO and COO of OHIP, said, “We look forward to working with Sage Healthcare to help us achieve our mission to improve the quality and value of health in Ohio by increasing the use of EHRs.”

The Ohio partnership will provide services that will offer practices EHR implementation assistance making the selection of an EHR system easier for healthcare providers, as well as helping providers meet meaningful use standards. Meeting these standards is necessary for physicians to qualify for financial incentives through Medicare and Medicaid.

The overall goal of OHIP is to improve healthcare quality, outcomes and experience for the citizens of Ohio. OHIP is committed to assisting more than 6,000 physicians adopt and meaningfully use an EHR by 2012.

As a Preferred Vendor for OHIP, Sage will be offering its electronic health record products and services to OHIP provider members. “The Sage mission echoes that of the Ohio Information Partnership in that our ultimate goal is to improve healthcare outcomes throughout the United States through the implementation of affordable and effective health information technology,” said Ken Ernsting, Vice President of Business Development for Sage Healthcare. “Because of this mission, Sage is dedicated to serving regional extension centers and the provider community here in Ohio and beyond.”

The Sage Intergy Meaningful Use Edition is a comprehensive clinical, financial and administrative health information technology solution that assists physicians in continuing to advance the quality and efficiency of care they deliver. The Sage Intergy family of products includes integrated practice management, electronic health records, clinical and business intelligence and tools for online patient engagement. Providers can access Sage Intergy from multiple practice locations, from home, or other remote locations either through a central patient database server, or as a Sage-hosted solution on a monthly subscription basis.

Sage Intergy easily tracks the details of a patient’s clinical history, shares and manages clinical information and combines complex medical practice functions into easy-to-navigate menus. Sage Intergy features centralized financial operations including billing, reporting, task management, and fully integrates with EDI services, Sage Intergy Practice Portal, Sage Intergy RIS and Sage Practice Analytics.

Clinics eligible to utilize Ohio Health Information Partnership’s subsidized services include Priority Primary Care Providers (PPCP) in the area of family medicine, obstetrics, and gynecology, general internal or pediatric medicine. In addition, practices must be either individual or a small group practices (defined as 10 or fewer professionals with prescriptive privileges in the practice) primarily focused on primary care; public and critical access hospitals; and community health centers and rural health clinics.

About Ohio Health Information Partnership
Ohio Health Information Partnership mission is to advance the adoption, implementation and meaningful use of health IT among healthcare providers and facilitate and develop an electronic health information exchange (HIE) to improve the safety, quality, accessibility, availability and efficiency of healthcare for the citizens of Ohio while creating a secure, sustainable health information exchange that ensures the protection of all patient records, enables providers to access necessary, patient-authorized health information and improves the overall level of health care provided throughout the state of Ohio.

About Sage Healthcare Division
Sage Healthcare Division provides integrated electronic health records, EDI applications and practice management systems to approximately 80,000 physicians and thousands of ambulatory care practices throughout North America. These systems enable physicians and practice managers to better manage their practices and improve profitability. Sage Healthcare Division is based in Tampa, Fla., and is a division of Sage North America. For more information, please visit www.sagehealth.com or call (877) 932-6301.

About Sage North America
Sage North America is part of The Sage Group plc, a leading global supplier of business management software and services. Sage North America employs 4,000 people and supports 3.1 million small and midsized business customers, including medical practices in the United States. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs 13,100 people and supports 6.2 million customers worldwide. For more information, please visit the Web site at www.sagenorthamerica.com.

© 2010 Sage Software, Inc. All rights reserved. Sage, the Sage logos, and the Sage product and service names mentioned herein are registered trademarks or trademarks of Sage Software, Inc. or its affiliated entities. All other trademarks are the property of their respective owners.

Media Contact:
Scott Rupp
Sage North America
813-249-4264
[email protected]

Filed Under: Healthcare Business, Hospitals and Health Systems

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