It's always a pleasure to see one of your prior clients become acquired. Between January-2004 and Mid-2005, NMHC was one of my clients when I was Portfolio Manager within the healthcare lending industry. At the time, they were a thriving business and had taken on private equity which in turn drove the stock price to record highs. They were always a pleasure to work with and I wish them the best.
David J. Lacasse, Managing Director - djlacasse@gmail.com
Healthcare Collateral Consulting, LLC
SXCI signed a definitive agreement to acquire National Medical Health Card Systems Inc. (NMHC) for $143 million, or $7.70 in cash and 0.217 shares of SXC common stock, a 13% premium to National Medical's 20-day average closing price. SXC, a Lisle, Ill., healthcare information technology provider, expects the deal with the Port Washington, N.Y., pharmacy benefit program manager to close in the second quarter of 2008. SXC expects the acquisition to decrease earnings in fiscal 2008 and add to earnings after that. SXC said the combined company, which will be renamed InformedRx, will be based in Lisle, Ill., with Gordon Glenn as chairman and chief executive. The company said Mark Thierer of SXC will remain president and chief operating officer, and Jeff Park will remain senior vice president, chief financial officer and secretary.
Link:
http://www.marketwatch.com/news/story/sxc-health-acquire-ntl-medical/story.aspx?guid=%7B39B76FBB%2D32B3%2D493F%2DB98C%2D2BC0085C2354%7D&dist=hplatest
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