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September 2005
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EHI September 2005; Volume 6, Number 8
WebMD raises IPO price...MA eRx hits 1 MM scripts...M.D. On-Line vs. Emdeon...QuadraMed taps Hagen...QuadraMed sells EDI unit...ProxyMed, NDC extend pact...Zix redeems notes...Allscripts wins EMR account...eHealth services stocks rise 4%...WellPoint taps Subimo...Independence taps Zix...and more...
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WEBMD RAISES IPO ASKING PRICE
WebMD Health Corp. (New York) said it expects to raise $102.6 million to $118.5 million in net proceeds after underwriters’ commissions in an initial public offering of common stock based on an increased asking price of $15.50 to $17.50 per share, compared to a previous asking price of $13.50 to $15.50 per share (EHI E-Mail Update, Sept. 12).
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MA eRX EFFORT HITS 1 MM E-SCRIPTS
The eRx Collaborative, an e-prescribing network funded by Blue Cross Blue Shield of Massachusetts, Tufts Health Plan and Neighborhood Health Plan, generated more than 1 million electronic prescriptions through the first six months of 2005.
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M.D. ON-LINE LOSES ROUND IN NAME GAME
M.D. On-Line (Parsippany, NJ) announced that a federal judge in New Jersey denied the company’s request for a preliminary injunction that would have precluded the former WebMD from using its new name Emdeon.
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QUADRAMED NAMES HAGEN CEO
QuadraMed (Reston, VA) has named Keith Hagen, 42, president and chief executive, replacing Lawrence English, 65, who has headed the company since 2000.
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PROXYMED EXTENDS AGREEMENT WITH NDCHEALTH
ProxyMed (Atlanta) has extended an existing relationship with NDCHealth (Atlanta), signing a three-year contract to provide claims processing and electronic remittance advice services to 100,000 providers who use NDC’s physician practice management systems.
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ZIX REDEEMS $2.2 MILLION IN CONVERTIBLE NOTES
Zix Corp. (Dallas) said it has redeemed $2.2 million principal amount (plus 5% premium and accrued interest) out of $20 million in convertible notes issued to Omicron Master Trust and Amulet Ltd. and due 2005-08.
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ALLSCRIPTS WINS NORTHEAST MEDICAL CENTER
Allscripts Healthcare Solutions (Libertyville, IL) will provide its electronic medical record to NorthEast Medical Center (Concord, NC), connecting 150 physicians and 33 locations.
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INDEPENDENCE TAPS ZIX FOR E-SCRIPTS PILOT
Independence Blue Cross (Philadelphia) will sponsor an e-prescribing pilot for 500 physicians in Pennsylvania, New Jersey and Delaware using technology supplied by both Zix Corp. (Dallas) and another e-prescribing vendor.
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