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Morning Market Movers (ORCH, SIMO, HILL, BLTI)
Wednesday, April 6, 2011 - 9:46am | 156Orchid Cellmark Inc (NASDAQ: ORCH) climbed 38.06% to $2.78 at 9:45 am. Laboratory Corporation of America (NYSE: LH) announced its plans to acquire ORCH for $85.4 million or $2.80 per share, representing a 40% premium over ORCH's closing price of $2 per share on Tuesday. Silicon Motion Technology...
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News Summary
Wednesday, April 6, 2011 - 9:32am | 192Shares of Genpact Ltd (NYSE: G) gained about 2.7% after the company announced its plans to buy consulting and IT services group Headstrong Corp. for $550 million in cash. The transaction is likely to close by the end of May. Shares of Monsanto Co (NYSE: MON) fell about 0.5% after the company...
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Citi Maintains Buy on Lincare Holdings (LNCR)
Wednesday, April 6, 2011 - 8:21am | 121Citi is out with its report on Lincare Holdings (NASDAQ: LNCR), maintaining Buy. In a note to clients, Citi writes, "We rate LNCR Buy/Medium Risk (1M) due to a recurring history of government reimbursement reductions. That said, we believe LNCR may be unmolested by government cuts for at least...
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LabCorp Announces Definitive Agreement to Acquire Orchid Cellmark for $2.80 per Share
Wednesday, April 6, 2011 - 8:02am | 101Laboratory Corporation of America® Holdings (NYSE: LH) and Orchid Cellmark Inc. (NASDAQ: ORCH) today announced that they have entered into a definitive agreement and plan of merger under which LabCorp will acquire all of the outstanding shares of Orchid Cellmark in a cash tender offer for $2.80 per...
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Lab Corp To Buy Orchid Cellmark for $85.4M (LH)
Wednesday, April 6, 2011 - 8:02am | 18Lab Corp To Buy Orchid Cellmark for $85.4M (NYSE: LH)
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BioScrip Receives URAC Accreditation in Specialty and Mail Service Pharmacy
Wednesday, April 6, 2011 - 7:39am | 93BioScrip, Inc. (NASDAQ: BIOS) announced today that it has been awarded specialty pharmacy and mail service pharmacy accreditation from URAC, a Washington, D.C.-based health care accrediting organization that establishes quality standards for the health care industry. Specialty pharmacy and mail...
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athenahealth Selected as a Supported EHR Vendor for the Maine Regional Extension Center
Tuesday, April 5, 2011 - 10:59am | 78athenahealth, Inc. (NASDAQ: ATHN) today announced that HealthInfoNet has selected athenahealth as a one of its supported EHR vendors. This partnership will give primary health care providers across the State of Maine the opportunity to take advantage of the benefits that athenahealth's cloud-...
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HMS Awarded Third Party Liability Contract by the Commonwealth of Virginia
Tuesday, April 5, 2011 - 9:36am | 72HMS, a wholly owned subsidiary of HMS Holdings Corp. (NASDAQ: HMSY), announced today that is has been awarded a contract by the Commonwealth of Virginia, Department of Medical Assistance Services (DMAS) to provide third party liability services, including cost avoidance, commercial insurance...
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Jefferies Comments On DaVita CMS
Tuesday, April 5, 2011 - 8:13am | 136According to Jefferies, DaVita's (NYSE: DVA) CMS provides relief with elimination of ESRD transition adjustment. Jefferies reported that it views the elimination of the -3.1% transition budget neutrality adjustment under the Medicare ESRD bundled payment system as a positive for dialysis providers...
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Jefferies Raises PT On DaVita To $95
Tuesday, April 5, 2011 - 7:31am | 26Jefferies & Company has raised the price target on DaVita (NYSE: DVA) from $81 to $95 and maintains its Hold rating.
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IPC The Hospitalist Company Names Chief Clinical Officer
Monday, April 4, 2011 - 4:03pm | 75IPC The Hospitalist Company, Inc. (Nasdaq: IPCM) announced today that it has appointed Kerry Weiner, M.D., to the newly created position of Chief Clinical Officer. Dr. Weiner will report to Adam Singer, M.D., IPC's Chairman and Chief Executive Officer. In his new role, Dr. Weiner will lead the...
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Laboratory Corp. of America Hits New 52-Week High (LH)
Monday, April 4, 2011 - 1:21pm | 26Laboratory Corp. of America Holdings (NYSE: LH) is currently trading at $93.51 which is above the 52 week high of $93.50.
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athenahealth Appoints Dr. Todd Rothenhaus to Chief Medical Information Officer Position
Monday, April 4, 2011 - 9:16am | 48athenahealth, Inc. (NASDAQ: ATHN) announced today the appointment of Todd Rothenhaus, M.D. to the newly created position of Chief Medical Information Officer (CMIO). Dr. Rothenhaus will report directly to athenahealth Executive Vice President and Chief Operating Officer, Ed Park.
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Deutsche Bank Raises Price Target To $101 On DaVita
Monday, April 4, 2011 - 8:05am | 112According to Deutsche Bank, DaVita (NYSE: DVA) price target is raised to $101 and estimates are raised. Deutsche Bank reported that it is raising estimates as a result of CMS' issuance of a fix to the so-called transition budget-neutrality adjustment, which was announced late Friday April 1, 2011...
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PDI Announces Contract Extension Valued at $23M
Monday, April 4, 2011 - 7:53am | 72PDI, Inc. (Nasdaq: PDII) today announced the extension of a contract sales engagement with an existing Top 5 global pharmaceutical client. The extension began April 1 and will run for the balance of 2011. This program is expected to generate total revenue to PDI of approximately $23 million. Under...