Showing posts with label Grows. Show all posts
Showing posts with label Grows. Show all posts

Tuesday, February 7, 2012

Genomic Health 4Q profit grows; plans new division

REDWOOD CITY, Calif. (AP) — Cancer test maker Genomic Health Inc. reported a larger fourth-quarter profit on Monday, and said it will start a new genetics business.

Genomic Health said its income grew to $2.6 million, or 8 cents per share, from $1.7 million, or 6 cents per share. Its revenue rose 13 percent, to $53.4 million from $47.1 million. The company said it delivered 17,080 test results with its Oncotype DX test, up 13 percent from a year ago. The Oncotype DX test is designed to predict the risk that a patient's breast or colon cancer will recur.

Analysts expected the company to report a profit of 10 cents per share on revenue of $53.8 million, according to FactSet.

The company said its new subsidiary will focus on commercial applications of the human genome. It will invest $20 million in the business over the next two years.

It will establish the business by March 1 and offer its first commercial service by 2013. Randy Scott will step down as chairman of Genomic health to become CEO of the new venture on March 1, and company President and CEO Kim Popovits will become chairman of Genomic Health. Julian Baker has been named lead independent director.

In 2011, the company's profit climbed to $7.8 million, or 26 cents per share, from $4.3 million, or 14 cents per share. Revenue grew 16 percent, to $206.1 million from $178.1 million. Genomic Health said it returned more than 66,600 Oncotype DX test results.

In 2012, the company expects adjusted income of $5 million to $8 million, excluding its losses related to the new subsidiary. It forecast $230 million to $240 million in revenue and 75,000 to 77,000 Oncotype DX test results.

Analysts expect the company to report a profit of $13.4 million, or 44 cents per share, on $235.9 million in revenue.

Shares of Genomic Health lost $1.45, or 5 percent, to $27.40 in extended trading following the release of the earnings report. They had ended the regular trading session down 49 cents at $28.85.


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Thursday, January 19, 2012

Curaspan Health Group Grows Customer Base by Nearly 30 Percent

NEWTON, Mass., Jan. 19, 2012 /PRNewswire/ -- Curaspan Health Group®, the industry leader in building secure electronic patient-transition networks for hospitals, post-acute providers and payers to optimize patient care, is starting the new year with strong momentum from 2011. With more than 4,100 customers in 40 states plus the District of Columbia, the company's customer base grew by 26 percent last year, according to Curaspan president and CEO Thomas R. Ferry.

(Logo:  http://photos.prnewswire.com/prnh/20100114/NE37429LOGO)

"Providers increasingly recognize the need for technology that can break down the walls that exist between different departments, internally as well as externally," said Ferry. "Our Synchronized Patient Management™ portfolio of applications enables them to take a holistic approach to patient care with everyone on the same platform, working together to drive toward the same outcomes."

Curaspan debuted DischargeCentral® last year, a major upgrade to eDischarge™ which revolutionized discharge planning more than 10 years ago. Built on a flexible new platform, DischargeCentral extends the capabilities of the discharge-planning software-as-a-service (SaaS) application for use in every level of care.

In addition to DischargeCentral for discharge planning, the Curaspan Synchronized Patient Management portfolio of applications includes RideCentral® for non-emergent transport ordering and dispatch and ReferralCentral® for referral management. Users experience unparalleled performance to transition patients efficiently from one level of care to another; in 2011, application uptime was 99.996 percent.

"Connectivity and good care transitions are fundamental to who we are and how we provide quality care, and Curaspan has helped support our success," said Joe DiResta, director of business planning at SunBridge Healthcare, one of the nation's largest nursing-home companies, headquartered in Irvine, Calif. "With ReferralCentral enabling the secure and timely transmission of patient data, we operate more efficiently and deepen our relationships with referring facilities."

New Curaspan post-acute clients include Critical Care Systems, a wholly owned subsidiary of Accredo Health Group in Memphis; Avante Group in Hollywood, Fla.; LaVie Care Centers in Tampa, Fla.; National HealthCare Corporation in Murfreesboro, Tenn.; Select Specialty Hospitals in Mechanicsburg, Penn.; and Skilled Healthcare in Foothill Ranch, Calif. 

"Curaspan provides a platform that allows for good clinical handoffs," said Dawn Kowalski, operations manager at Riverside Health System in Newport News, Va. "This is a win-win for both the referring and receiving facilities and for the ultimate goal of excellent transitional care for our patients." (See the Riverside case study.)

Among new Curaspan hospital clients are Bayhealth Medical Center in Dover, Del.; Civista Medical Center in La Plata, Md.; Cullman Regional Medical Center in Cullman, Ala.; Heartland Health in St. Joseph, Mo.; Health Quest in LaGrangeville, N.Y.; IASIS Healthcare in Franklin, Tenn.; Norton Healthcare in Louisville, Ky.; Overlake Hospital Medical Center in Bellevue, Wash.; Samaritan Medical Center in Watertown, N.Y.; and University of New Mexico Hospitals in Albuquerque, N.M.

To meet demand for its portfolio of applications and advisory services that help cut readmissions and LOS while increasing productivity, Curaspan grew its staff by 60 percent in 2011 and continues to recruit top-notch talent.

Founded in 1999, Curaspan set the standard for the secure transmission of clinical data about patients moving from one level of care to another. Among its customers are Johns Hopkins Health System, NewYork Presbyterian Hospital, Saint Thomas Health Services (part of Ascension Health), Vanguard Health Systems, Amedisys Home Health Services, American Medical Response, Gentiva Health Services, Golden LivingCenters and Life Care Centers of America.

About Curaspan Health Group

Curaspan Health Group builds secure electronic patient-transition networks for hospitals, post-acute providers and payers to optimize patient care. Curaspan software-as-a-service (SaaS) applications empower users with real-time, predictive decision-making data that enables all participants to continuously monitor care, improve communication and ensure compliance. This informatics exchange is integrated with the proprietary Curaspan Provider Data Bank™, the industry's most comprehensive and up-to-date system of actionable patient-transition intelligence, and is complemented by the clinical process expertise of credentialed advisors. The Health Care Advisory Board and KLAS repeatedly have recognized Curaspan for its industry-leading software. Curaspan is headquartered in Newton, Mass. For more information please visit Curaspan.com.


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