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July 2004
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EHI July 2004; Volume 5, Number 7
WebMD acquires Vips...SciQuest-Trinity deal approved...QuadraMed buys Tempus...GHI has online enrollment...ConnectiCare to fund e-scripts...Cigna relies on Verdasys security...PacifiCare picks Online Insight...HP-San Joaquin taps HealthTrio...Health Net signs with AT&T...Medco 1Q e-scripts top 3.8MM...In brief: Zix; Allscripts...Trizetto posts 2Q gains...WebMD promotes Stampiglia...eDiets to trim ad spending...HHS awards eHealth funding...ProxyMed to sell Key...eHealth, info services stocks rise...and more...
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WEBMD ACQUIRES VIPS FOR $160 MILLION
WebMD (Elmwood Park, NJ) has announced a definitive agreement to acquire Vips Inc. (Baltimore) for $160 million in cash and assumed liabilities.
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SCIQUEST-TRINITY DEAL APPROVED
SciQuest Inc. (Research Triangle Park, NC), a provider of electronic supply chain software and services, announced that its shareholders have approved the sale of the company to Trinity Ventures (Menlo Park, CA) for $25.25 million in cash.
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QUADRAMED ACQUIRES TEMPUS
QuadraMed Corp. (Reston, VA) has acquired Tempus Software (Jacksonville, FL) for $13.4 million, including $5.8 million in cash and 2.559 million shares of stock.
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TRIZETTO GAINS OFFSET ALTIUS LOSS
Trizetto Group (Newport Beach, CA) reported that growth in revenues from health plan clients for hosting, software maintenance and consulting services more than offset the loss of the Altius Health Plan account (EHI, July 2003), which was worth $18 million in annual revenues.
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GROUP HEALTH ADDS ONLINE ENROLLMENT
Group Health Inc. (New York) is offer individuals and small businesses real-time web enrollment through online broker eHealthInsurance (Sunnyvale, CA).
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eDIETS TO TRIM AD SPENDING 6-11%
eDiets.com (Deerfield Beach, FL) announced that because of the tight market for online advertising and improving cost per acquisition trends, the company will cut back its projected ad spending 6% to 11% in 2004 to between $31 million to $33 million.
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HEALTH PLAN-SAN JOAQUIN
Health Plan of San Joaquin (Stockton, CA), a Medicaid plan with 66,500 lives, has installed claims management and health plan administration software from HealthTrio (Nashville, TN).
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HHS AWARDS $2 MM FOR eHEALTH INITIATIVES
The U.S. Dept. of Health & Human Services (Washington) awarded $2 million to nine communities to foster collaborative efforts between the public and private sectors to develop electronic health information exchange.
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PROXYMED TO SELL KEY MANUFACTURING
ProxyMed Inc. (Atlanta) has announced the sale of its Key Electronics circuit board assembly unit to a company executive for $5 million.
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IN BRIEF: ZIX; ALLSCRIPTS
Baycare Health Partners (Springfield, MA), a PHO owned by Baystate Health System and the Greater Springfield IPA, will roll out e-prescribing technology from Zix Corp. (Dallas).
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