Companies in the News
Coram to be delisted from NYSE
Coram Healthcare (Denver) said its stock will probably begin trading on the National Association of Securities Dealers’ over-the-counter bulletin board in the coming weeks. The company said it received notice that trading in its stock will be suspended on the New York Stock Exchange prior to its opening tomorrow, March 7. Coram also said application will be made with the Securities and Exchange Commission (Washington) to delist the company from the NYSE.
The delisting is occuring because Coram does not comply with NYSE listing requirements of at least $50 million in stockholders’ equity, $50 million in market capitalization, and a stock price of $1.
Mallinckrodt launches reimbursement Web site
Mallinckrodt (St. Louis) launched a Web site de voted to reimbursement issues. The company’s new healthcare economics Web site, which can be found at www.mallinckrodt.com/hce, went on line in early February, Mallinckrodt said. The site provides general reimbursement information, including source documents from Medicare and links to the sources of information. The site is designed to be particulary useful to providers who interact with Medicare payment policy, like medical equipment providers, said Mallinckrodt.
In other news, Mallinckrodt and Heller Financial (Chicago) have signed an agreement for Heller’s Global Vendor Finance unit to administer a private-label equipment lease financing program for Mallinckrodt. The Mallinckrodt Financial Solutions program is being offered to healthcare equipment providers in the United States and Canada who want to acquire Mallinckrodt’s alternate care respiratory products.
3M signs agreement with Fazzi Associates
3M Home Health (St. Paul, MN), a unit of 3M Health Information Systems (Salt Lake City), signed a sales and marketing agreement with Fazzi Associates (North ampton, MA) to market the CORE Research Partnership performance measurement system to home health agencies that are users of 3M Datacron Home Care Management Systems.
The CORE Research Partnership system was developed by the University of Colorado Center for Health Services and Policy Research. It provides for the collection, entry, and tabulating of OASIS assessment data for comparing home care agencies to a national database of home care quality. It also provides appropriate data for quarterly ORYX-compliant reporting to the Joint Commission for Accreditation of Healthcare Organizations (JCAHO).
The CORE Research Partnership system is designed to help agencies meet the requirements of the prospective payment system. The CORE Research Partnership system is an ORYX-based and JCAHO-listed system.
Stephen Loes, business unit manager of 3M Home Health, said the 3M-Fazzi marketing agreement "comes at a key moment for U.S. home health agencies. Every agency, regardless of its size or experience, has to anticipate its ability to provide required information to government and oversight organizations." He added, "We hope that by offering 3M customers the CORE Research Partnership, we will help address these concerns."