Health IT Business News Roundup for the Week of May 4, 2012

TOPIC ALERT:

M&A, Financial Reports and Funding

eHealth, a provider of online health insurance resources, reported a Q1 2012 net income of $2.1 million on $37.1 million in revenue, compared with a Q1 2011 net income of $2 million on $37.6 million in revenue...Computer Programs and Systems, a provider of health care information systems, reported a Q1 2012 net income of $5.6 million on $44.5 million in revenue, compared with a Q1 2011 net income of $5.4 million on $40.4 million in revenue.

athenahealth, a provider of cloud-based practice management and EHR systems, reported a Q1 2012 net income of $2.4 million on $96.6 million in revenue, compared with a Q1 2011 net income of $3.3 million on $69.9 million in revenue...Diversinet, a provider of mobile health applications, reported a Q1 2012 net loss of $1.4 million on $282,000 in revenue, compared with a Q1 2011 net loss of $1.1 million on $444,000 in revenue...McKesson, a health care services and health IT provider, reported a Q4 2012 net income of $521 million on $31.7 billion in revenue, compared with a Q4 2011 net income of $422 million on $28.9 billion in revenue.

Castlight Health -- a vendor of health care transparency tools -- has raised $100 million in Series D funding with contributions from multiple investors to bring its total funding to $181 million.

Contracts

The Department of Veterans Affairs' Technology Acquisition Center has awarded communications and IT company Harris Corporation a multiyear, $80.3 million contract to help integrate VA's EHR system with the Department of Defense's EHR system...Olmstead Medical Center in Minnesota has extended its contract to deploy MED3OOO's EHR system through 2017...LA Net, a practice-based research network in California, will implement Emerge.MD's cloud-based telehealth system...Mayo Clinic in Minnesota has completed its multisite implementation of SCC Soft Computer's laboratory information system...JPS Health Network in Texas has implemented Epic's EHR system...Clinical research organization Quanticate has selected Comprehend Clinical's analytics and visualization tools for clinical trials.

HHS has awarded health care modeling firm Archimedes a contract worth up to $5 million to provide modeling, simulation and other data analytics services...Healthcare Billing Incorporated in New Jersey, Nephrology Associates of Northern Illinois and Pottstown Medical Specialists in Pennsylvania will deploy Navicure's Web-based medical claims services...Blue Cross and Blue Shield of Minnesota has selected eHealth Technology's health insurance exchange platform...Samaritan Regional Health System in Ohio has selected CareTech Solutions' health IT and online services...Radiology Associates of Fox Valley in Wisconsin has chosen McKesson's revenue cycle services...The Valley Ear, Nose and Throat medical group in Arizona has selected ChartLogic's EHR system.

Product Development and Marketing

Vidyo, a telehealth software and services provider, has partnered with AMD Global Telemedicine, a supplier of clinical telehealth devices, to provide a point-of-care telehealth tool...AT&T has partnered with home health services provider Valued Relationships to provide patient monitoring services...Sermo, an online physician network, has partnered with TheVisualMD, a provider of Web-based health content, to provide interactive medical education resources for physicians...MedAptus, a developer of charge capture tools, has partnered with Intelligent Medical Objects, a vendor of medical vocabularies and software applications, to provide enhanced search capabilities during ICD-10 documentation...GE Healthcare has announced a partnership to incorporate Covidien's clinical measurement tools into GE Healthcare's remote patient monitoring devices.

Personnel

Dominic Wallen -- former executive vice president and CTO at HealthTrio, a provider of health plan administrative and interactive health management services -- has been named president and COO of the company...George Morgan -- former COO at US Oncology, a network of community-based oncology physicians -- has been named CEO of Virtual Radiologic, a national radiology practice and telehealth services provider...Dennis Chookaszian -- former CEO of CNA Insurance -- has been named chair of the board at Allscripts Healthcare Solutions, a provider of EHR systems.

Patricia Savitsky -- former vice president of corporate assurance at Blue Cross of Northern Pennsylvania -- has been named senior vice president and chief compliance officer at TMG Health, a provider of technology and services to government-sponsored health plans...Teresa DiMarco -- former president of Unisys' health information management business unit -- has been named CEO of WellAware Systems, an eldercare remote monitoring company...Katherine Schneider -- former senior vice president for health engagement at AtlantiCare, a New Jersey-based health care system -- has been named chief medical officer of Medecision, a provider of care management systems.


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